Celtic Pharma Holdings and PolyTherics announce investment into novel biopharmaceutical programme
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By Stephen Parker in Portfolio News Published: Tuesday, 26 January 10 - 11:30 AM (GMT) |
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Guernsey and London, 26th January 2010 – Celtic Pharma Holdings Advisors LLP (“CPHA”), the advisor to Celtic Pharma Holdings II LP (“CP2”), together with PolyTherics Limited (“PolyTherics”), innovators in precision engineering of proteins to improve their pharmacokinetic properties, today announce an investment into a research programme to develop a novel biopharmaceutical molecule.
This research programme will be undertaken jointly by PolyTherics and Cantab BioPharmaceuticals Limited (“Cantab”), a wholly-owned subsidiary of CP2 based in Cambridge, UK. PolyTherics will receive an upfront payment and ongoing technical support for the research, while CP2 may elect to submit two further proteins for research under the collaboration. PolyTherics grants CP2 an option to license products arising from the research collaboration, with PolyTherics receiving a share of any commercial returns. Further details of the agreement terms were not disclosed.
Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “We are delighted to establish a working relationship with CP2 and its subsidiary Cantab through this new therapeutic programme. Importantly, as we embark as a company on the development of our own bio-better products, we are excited to share in the rewards of product commercialisation resulting from this new collaboration.”
Commenting on the investment, John Mayo, Managing Partner of CP2 said: “The next generation of biopharmaceuticals will need to deliver increased benefits to patients, physicians and healthcare systems over the original products. We believe that PEGylation will be a key technology in addressing this need. Our investment in this project furthers our strategy of investing in companies and projects with well- differentiated technologies. Our commercial, regulatory, drug development and manufacturing experience will increase both the probability of success and the value of the products developed with PolyTherics. The advanced PolyTherics technology has proven itself elsewhere in this field and we are looking forward to working with the team and replicating its successes in our programmes.”
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Please contact with enquiries:
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Celtic Pharma Holdings Advisors LLP
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PolyTherics Ltd.
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John Mayo / Stephen Parker
Tel: +44 (0)20 7291 5456
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Dr. Keith Powell, CEO
Tel: +44 (0)20 7691 4928
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Citigate Dewe Rogerson (for Celtic Pharma)
David Dible
Tel: +44 (0)20 7638 9571
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De Facto Communications (for PolyTherics)
Mike Wort / Anna Dunphy
Tel: +44 (0)20 7861 3838
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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 PolyTherics Ltd
Founded in 2002, PolyTherics is a spin-out company from Imperial College London and the London School of Pharmacy that is dedicated to using biomedical polymers to optimise pharmaceuticals for the treatment and cure of the world's most important diseases.
PolyTherics has developed and patented an innovative approach to PEGylation, known as TheraPEG™, to prolong the half-life of proteins for therapeutic application. PEGylation is the process by which poly(ethyleneglycol) (PEG) is chemically attached to proteins and peptides to modify their pharmacokinetic properties.
PEGylation increases the time that a compound remains in the bloodstream before being metabolised or excreted by the body, thereby improving its half-life and potentially reducing treatment frequency, decreasing side effects and improving patient compliance. For example, PEGylated interferon treatments for Hepatitis C can be administered once rather than three times per week.
PolyTherics is established in facilities in the London Bioscience Innovation Centre (LBIC). The Company received investment of £2.3 million from Imperial Innovations Group plc, Longbow Capital LLP and The Capital Fund in June 2007.
For further information: www.polytherics.co.uk
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