Celtic Pharma Holdings commits significant funding to Cantab Biopharmaceuticals to drive the development of improved biological medicines – ‘biosuperiors’; Jim Mills appointed as Cantab CEO
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By Stephen Parker in Portfolio News Published: Monday, 25 January 10 - 09:00 AM (GMT) Last Updated: Wednesday, 27 January 10 - 05:53 PM (GMT) |
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Guernsey and London, 25th January 2010 – Celtic Pharma Holdings Advisors LLP (“CPHA”), today announces it has made significant funding available to Cantab Biopharmaceuticals Limited (“Cantab”) for the development of improved biological medicines or ‘biosuperiors’, via the fund Celtic Pharma Holdings II LP (“CP2”).
Cantab is a Cambridge, UK-based biopharmaceutical company wholly owned by CP2 that is focused on developing ‘bio-superiors’ – next-generation biologics designed to offer superior therapeutic efficacy and convenience over originator products. Initially Cantab will use the new funding to target specific ‘bio-superior’ opportunities in the area of haematology through its own resources and through agreements to access innovative technology platforms from third parties. The company will aim to progress these candidates to Phase I or Phase II at which point partners will be sought to develop the programmes further.
The initial funding commitment being made by CP2 is approximately £5 million over 3 years and is designed to allow Cantab to take its first biosuperior product into clinical trials.
In the longer term, Cantab aims to build a pipeline of ‘bio-superior’ candidates in other therapeutic areas, including infectious disease.
Cantab’s strategy is to complement its own expertise in biopharmaceutical process development and manufacturing with a suite of relevant technologies that it will seek to in-license. This will enable Cantab to create drug candidates with improved bioavailability, immunogenicity, pharmacokinetics and pharmacodynamics, based on novel delivery technologies and formulations.
Cantab Management and Board Appointments
In addition, Cantab has appointed Dr. Jim Mills, formerly Director of Operations at Cambridge Biomanufacturing Limited, as Chief Executive Officer. Dr Stephen Parker will become non-executive Chairman of the company and John Mayo and Dr Bill Henry will become non-executive Directors following this investment. All three non-executive Directors are partners of CPHA.
Commenting on today’s announcement, John Mayo, Managing Partner of CP2 said: “This financing commitment is the first that CP2 has made in the strategic area of biosuperiors, which we see as a central thrust of the Fund. We expect to augment this support of Cantab with licence deals and further significant investments to provide a strong platform with which to develop biosuperior products of great benefit to patients, doctors and healthcare systems alike and thereby deliver significant returns to our Fund investors.”
Dr Jim Mills, CEO of Cantab Biopharmaceuticals, said: “With the support of CP2, we are now well placed to build a strong capability in the development of superior biologic therapeutics, or ‘biosuperiors‘. Biologics have established a large market across many therapeutic areas, but many have well known limitations. We believe we can address these issues and generate new, improved products that will be attractive to industry and will create significant shareholder value.”
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Please contact with enquiries:
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Celtic Pharma Holdings Advisors LLP
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John Mayo / Stephen Parker
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Tel: +44 (20) 7291 5456
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Cantab Biopharmaceuticals Ltd.
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Jim Mills
Chief Executive Officer
Tel: +44 (0)1223 436567
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Citigate Dewe Rogerson Limited
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David Dible
Tel: +44 (0)20 7638 9571
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NOTES TO EDITORS
About Celtic Pharma Holdings Advisors LLP
Celtic Pharma Holdings Advisors is a global private equity fund management partnership focused on the biotechnology and pharmaceutical industries. Our second fund, Celtic Pharma Holdings II LP, invests in companies which own proven technology platforms and early clinical development-stage pharmaceutical programmes and directs the management of these programmes through their development prior to sale at proof of concept with appropriate efficacy and safety data (usually at end of Phase II clinical trials).
CP2 has already attracted investment from sovereign wealth funds, pension funds and high net worth individuals from many countries and continues to raise further capital. For further information, please visit our website at www.celticpharmaholdings.com.
About Cantab Biopharmaceuticals
Cantab Biopharmaceuticals Ltd (CBL) is a drug development company focused on the development of "bio-superior" products. Cantab is based in Cambridge, UK at the heart of the largest biotech cluster in Europe. The company uses its extensive experience in biopharmaceutical discovery, process development and GMP manufacturing to expedite the development of ‘bio-superiors’ from inception through clinical development. The strategy of the company is to add value to previously marketed, off-patent, biologics by applying cutting-edge technologies that address the sub-optimal characteristics of the marketed product. Particular characteristics of biologic drugs that Cantab seek to improve upon are product presentation and stability, pharmacokinetics, pharmacodynamics, immunogenicity and drug delivery.
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