Novel use of bacteriophages prevention & control
Market Sector | Healthcare
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Product | Novel use of bacteriophages for Prevention & Control of Bacterial Infection | |||
Patent | IPR - patents granted EU pending USA | |||
Business Stage | Approaching Phase II Clinical Trials - time to market <3 years | |||
Investment | £200k | |||
EIS Tax Relief | Yes | Valuation | £1.8m |
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Location | Coventry | |||
Background:
Company set up to develop and commercialise patented technology that involves novel methods for selecting bacteriophages for use in phage therapy in the prevention and treatment of bacterial infections of which MRSA is probably most well known. An impressive commercial team have been assembled to execute the plan whilst progress in development of the business is on schedule.
Product
The initial target platform is to launch a nasal decolonisation cost effective and sustainable solution, a key requirement in the fight against hospital-acquired infections that is targeted at PREVENTING infection spread occurring at the source. The product has some unique characteristics including an ability to continually evolve to meet each new "superbug" which provides not only a fast response but is fundamentally a cost effective & scalable solution. Phages are self-replicating & self-limiting and perhaps is one of the key differences between this treatment and the many drugs being developed.
Substantial IP is in place where Patents for Antibacterial Agents has been granted in Europe & India and pending in the USA
Primary Objective
The first product is targeted at MRSA and because phages have no effects on human cells they are inherently much safer than, and not classed as, drugs. They can be developed into medicines much quicker than antibiotics and the company are able to fast track accordingly staying on schedule to complete phase I and IIa clinical trials by the middle of 2010.
The platform developed for this first product will be the basis for other clinical applications, e.g. community-acquired (CA) MRSA, MRSA bacteraemia and wound infections. In addition, the R&D platform will be used to develop a pipeline of products against other bacterial indications e.g. Clostridium difficile as well as veterinary applications.
Market Size
The market is global, growing and reachable with clear routes to market through the Pharma's. In addition the appetite for solutions world wide is driven by both health care legislation, litigation, cost as well as simply a need to combat infection.
Financials & Exit
To date the company has received funding of £1.65 million from a mixture of business angels and government-backed grants for SMEs. The company now is seeking £200,000 to complete the current funding round. This funding will enable the company to complete the pre-clinical development of its first product and to complete phase I of the clinical trial programme.
At that stage they are then in the reach of Pharma & major VC funding for final follow on phases that the executives have extensive experience in attracting, at which point of course the valuation of the company will increase significantly and or a trade sale executed. In support of this objective, a preliminary meeting has been held with the UK regulator (MHRA), a GMP manufacturer has been selected and has completed the engineering run of the product which is now in toxicology and a major UK hospital with appropriate clinical trial experience has agreed to be the trial site.