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

http://www.european-biotechnology-news.com/news/news/2012-04/second-round-of-funding.html

Clinical ResearchFrancePortugalEU

05.02.2016 It is not yet clear why a man died during a first-in-man clinical trial in January. However, a preliminary report found several “major shortcomings” by responsible CRO Biotrial. However, all regulations were complied with.

M&ASwitzerland

04.02.2016 After having dodged multiple takeover attempts by Monsanto last year, agrobusiness giant Syngenta has now agreed to be acquired by chemical corporation ChemChina. The Swiss company also announced plans to go public within a few years.

FinancingEUUKBelgium

01.02.2016 Newly formed Medicxi Ventures, a life sciences-dedicated VC firm based in London, Geneva and Jersey, has closed a €210m investment fund to reinvest in European early-stage assets.

ResearchUKEU

01.02.2016 Altering human DNA with the efficient gene editing method CRISPR/Cas9, especially germline modifications, was long considered a taboo. Now, however, UK scientists have received official approval to tinker with embryo DNA.

M&ASwedenIceland

28.01.2016 Swedish infectious disease specialist Enzymatica has bagged Icelandic company Zymetech, who produces the patent-protected enzyme used in Enzymatica’s own common cold blocker ColdZyme.

R&DUK

27.01.2016 Three UK universities have teamed up with three pharma companies to create the Apollo Therapeutics Fund. With the tech transfer fund, the consortium aims to develop scientific research into medicines.

Clinical TrialsGermany

25.01.2016 Affimed means to put a promising drug combination to the test. With support from MSD, the German biopharma will carry out clinical trials for an immunotherapy combining treatments of both companies.

AMREU

21.01.2016 Stop squandering antibiotics and make research profitable again: at the World Economic Forum in Swiss Davos, 83 pharmaceutical companies have called for a unified approach towards the threat of antimicrobial resistance.

M&AFinland

19.01.2016 Biotie Therapies has long been expanding its business in the US. Now, the Finnish company is set to be taken over by US company Acorda Therapeutics, which is paying €321m for the shares.

Drug AssessmentPortugalFrance

18.01.2016 A Phase I clinical trial for a drug developed by Portuguese pharma company Bial has ended in disaster. One man died, five others may have irreversible neurological damage.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • MAGFORCE (D)5.25 EUR5.00%
  • SAREUM HOLDINGS (UK)0.24 GBP4.35%
  • SCANCELL HOLDINGS (UK)18.25 GBP4.29%

FLOP

  • SWEDISH ORPHAN BIOVITRUM (S)12.45 USD-23.38%
  • BIOTIE THERAPEUTICS (FI)0.14 EUR-22.22%
  • IMMUPHARMA (UK)25.50 GBP-12.07%

TOP

  • EPIGENOMICS (D)4.46 EUR109.4%
  • VERONA PHARMA (UK)3.40 GBP28.3%
  • WILEX (D)2.09 EUR19.4%

FLOP

  • PROTHENA PLC (IE)34.27 USD-39.1%
  • PLETHORA (UK)2.75 GBP-33.3%
  • BIONOR PHARMA (N)0.88 NOK-30.2%

TOP

  • KARO BIO (S)26.80 SEK3728.6%
  • CHRONTECH PHARMA (S)0.34 SEK3300.0%
  • 4SC (D)3.33 EUR291.8%

FLOP

  • NEUROVIVE PHARMACEUTICAL AB (S)8.80 SEK-85.6%
  • BIOTEST (D)14.11 EUR-84.5%
  • EVOCUTIS (UK)0.08 GBP-71.4%

No liability assumed, Date: 06.02.2016