News

Second Round of funding
Enlarge image

FundingUK

Second Round of funding

07.11.2012 - The British government-backed Biomedical Catalyst has started its second round of funding. A total of £39m will be given to 32 of UK’s leading life science projects.

The money comes from a £180m funding initiative set up in in December 2011 to help spur the commercialisation of new medical products and technologies being developed by UK businesses and universities. The funds are jointly administered by the Technology Strategy Board (TSB) and the Medical Research Council (MRC). The TSB manages 22 SME-led projects, totalling £29.6m. Business recipients include Cambridge biotech company Arecor, which has been awarded £85,000 to accelerate the development of high concentration antibodies to allow more convenient administration of future therapeutic medicines and reduce healthcare costs. KalVista Pharmaceuticals (Southampton) will use its £2.4m grant to further develop its oral plasma kallikrein inhibitor as a treatment for diabetic macular edema (DME). Other recipients include PsiOxus Therapeutics, which received £1.7m to develop a virus-based oncolytic vaccine for treating ovarian cancer, and Modern Biosciences, which received £1.6m to push forward the development of a novel anti-inflammatory compound for treating rheumatoid arthritis. Additional companies receiving funding include dermatology and inflammation company Creabilis S.A. (Canterbury, £1.4m); cancer company Cyclacel Pharmaceuticals Inc. (Dundee, £1.9m); drug delivery company Glide Pharma Technologies Ltd. (Abingdon, £2.3m) and medical imaging company IXICO Ltd. (London).

Grants to the 10 university-led projects, totalling £9.5m will be administered by the Medical Research Council. Academic recipients include Oxford University, which will use its grant to conduct human trials of a universal flu jab that could protect against all known strains of the illness.

“Britain is in a global race today and this £39 million investment will help keep us at the very forefront of life sciences by supporting some of our most innovative SMEs and universities. It will help take excellent ideas through to market, driving growth and helping patients benefit from the  very latest technologies and treatments“, stated David Willetts, UK’s Minister for Universities and Science.

Taking into account contributions to the projects from the participating companies, the total value of the research, evaluation, development and demonstration work to be undertaken by the 32 projects exceeds £63m. The Biomedical Catalyst’s initial funding awards, announced in August, injected nearly £10m into 14 universities and 18 SMEs, supporting them on their vital first steps in exploring the market potential of their scientific ideas.

© eurobiotechnews.eu/bk

BusinessSpainUKSweden

31.07.2014 Astrazeneca is buying the rights to Almirall’s respiratory drugs in a deal worth up to €1.56bn.

BusinessFranceGermanySwitzerlandUK

30.07.2014 Rumours have it that French Danone wants to sell its medical nutrition business to US drugmaker Hospira for US$5bn in yet another tax inversion deal.

RegulationUKEU

29.07.2014 The first vaccine for malaria may be within reach: The European Medicines Agency has accepted Glaxosmithkline’s malaria vaccine candidate RTS,S for regulatory review.

FundingEU

25.07.2014 The European Commission aims to support innovation in Europe and announced a "Fast Track to Innovation" pilot as well as five innovation prices under Horizon 2020.

ResearchUKEU

23.07.2014 In the largest genomic study published on any psychiatric disorder so far, researchers have indentified 83 new locations in the human genome associated with the risk of developing schizophrenia.

BusinessUKIreland

21.07.2014 Abbvie’s tenacious pursuit of British rival Shire is finally paying off: The two companies have unveiled their transatlantic merger worth £32bn (€40bn).

ResearchEUSwitzerland

17.07.2014 A trans-border, cross-disciplinary project that aims to model the human brain in a computer has drawn heavy criticism from scientists pledging to boycott the project.

MergerUK

16.07.2014 After rejecting three merger propositions from US competitor Abbvie, Shire has now given up resistance to the deal and is recommending a new and improved offer worth £31.3bn.

AcquisitionUKDenmarkSpainGermanyFrance

15.07.2014 British specialty pharma company Prostrakan is handing over £230m for Archimedes Pharma Limited, a company that brings its lead product Pecfent and its proprietary drug delivery technology platform into the deal.

FundingEU

11.07.2014 Among the seven newly launched Joint Technology Initiatives (JTI) of Horizon2020 are two with deep roots in biotech: IMI is going into its second round while the newly established Bio-based Industries partnership invests in bioeconomy.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CHRONTECH PHARMA (S)0.09 SEK12.50%
  • WILEX (D)2.99 EUR6.79%
  • CO.DON (D)2.75 EUR5.77%

FLOP

  • ANTISOMA (UK)1.32 GBP-14.84%
  • XENETIC BIOSCIENCES (UK)6.00 GBP-14.29%
  • SERODUS (N)2.81 NOK-10.79%

TOP

  • WILEX (D)2.99 EUR251.8%
  • ADDEX (CH)3.82 CHF59.2%
  • 4SC (D)1.45 EUR49.5%

FLOP

  • HYBRIGENICS (F)1.72 EUR-29.5%
  • PROSENSA (NL)9.72 USD-23.4%
  • PROTHENA PLC (IE)17.37 USD-22.1%

TOP

  • SANTHERA (CH)64.00 CHF3037.3%
  • GW PHARMACEUTICALS (UK)426.00 GBP667.6%
  • PAION (D)2.67 EUR292.6%

FLOP

  • EVOCUTIS (UK)0.21 GBP-92.6%
  • CYTOS (CH)0.28 CHF-91.7%
  • THROMBOGENICS (B)9.14 EUR-70.4%

No liability assumed, Date: 30.07.2014