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

Stock marketsEU

29.01.2015 Denmark's Ascendis Pharma has successfully raised US$108m with its upsized NASDAQ IPO, while Irish animal health specialist Nexvet is waiting in the wings.

Contract ResearchEU

28.01.2015 EMA recommends suspending around 750 generic medicines marketed throughout the world after India’s GVK Biosciences is accused of faking bioequivalence studies. Meds considered critically important for patients will remain available.

RegulationEU

21.01.2015 The EMA is asking for comments on how to implement the transparency rules of EU Clinical Trial Regulation, pointing to the new clinical trial portal and database as the main instrument.

Stock marketsEUGermany

21.01.2015 2014 was a record year for biotech companies on the European stock market, with a total of €2.4bn raised in the year - 25% more than in the year before.

ResearchEUUK

20.01.2015 Ebola research projects are set to receive €215m in funding from the European Commission’s IMI2 Ebola+ programme. Among the project partners are vaccine developers Glaxosmithkline, Johnson&Johnson and Merck. 

Stock ExchangeUKDenmarkFrance

16.01.2015 It's time to get used to weekly IPO plans by European biotechs. UK's drug discovery firm Redx Pharma Ltd, established just five years ago, has come of age with their £80m (€105m) IPO plans.

M&ASwitzerland

14.01.2015 Pharma kingpin Roche has launched a billion-dollar transaction for a total of US$1.2bn (€1bn), taking over the majority of US cancer specialist Foundation Medicine.

PoliticsEU

14.01.2015 The European Parliament has backed the legislation allowing individual countries to restrict or prohibit the cultivation of genetically modified crops that have been authorised at EU level.

M&AIrelandUK

13.01.2015 Shire beefs up its rare disease portfolio after acquiring NPS Pharma with the aim of becoming a leading biotech in a US$5.2bn deal. Part of the deal is the US biotech's lead portfolio of gastrointestinal and hormone replacement therapies.

M&ASwitzerlandFrance

09.01.2015 The excitement surrounding CRISPR genome editing shows no sign of abating. This month, Novartis and US biotech Intellia Therapeutics became the first ever biotech-pharma collaboration to use the groundbreaking technology.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • CO.DON2.40 EUR11.63%
  • SARTORIUS113.95 EUR4.93%
  • EVONIK27.85 EUR3.69%

FLOP

  • ADDEX3.30 CHF-4.07%
  • BIOFRONTERA1.95 EUR-3.47%
  • MEDIGENE3.70 EUR-2.63%

TOP

  • CYTOS0.33 CHF43.5%
  • ADDEX3.30 CHF42.2%
  • FORMYCON14.30 EUR41.9%

FLOP

  • BIOFRONTERA1.95 EUR-15.2%
  • ACTELION100.20 CHF-13.8%
  • MOLOGEN5.60 EUR-11.8%

TOP

  • SANTHERA105.50 CHF2557.4%
  • BB BIOTECH256.75 EUR102.4%
  • FORMYCON14.30 EUR90.7%

FLOP

  • CYTOS0.33 CHF-90.9%
  • MOLOGEN5.60 EUR-51.5%
  • 4SC0.82 EUR-50.0%

No liability assumed, Date: 28.01.2015