TPP Global raises £9.6M to bridge early stage drug development gap

Funding

Start-up TPP Global Development (TPP) has raised £9.6m to fund the development of early-stage preclinical drug candidates. The money comes from a group of investors, including the Scottish Venture Fund, a public fund.

TPP will focus on nervous system disorders, immunology/inflammation and oncology, sourcing early programmes mainly from research institutes and universities. The company will oversee development of these programmes in the lab of the inventor where possible, or with a local contract research organisation, outlicensing programmes, or spinning them out into new companies once they reach the later stages of pre-clinical development.

TPP says its willingness to in-license and develop programmes at a much earlier stage than most other commercial organizations is a key differentiating feature. Peter Trill, TPP’s CFO, commented, “There has always been a funding shortfall for early stage research. This will become ever more acute as the pharma industry continues to reduce spending on pre clinical research, instead looking to in-license late-stage pre-clinical drugs, and as the economic environment puts pressure on central government and medical charity research funding.”

TPP’s CEO Tom Brown and CFO Peter Trill have almost 25 years combined experience of advising on and investing in healthcare and biotech companies. Other board members include Michael Walker, CEO of Verona, and Sharon O’Kane, a founder of Renovo plc.

The scientific advisory board is chaired by Sid Gilman, previously member and chairman of the FDA’s advisory panel on drugs for central nervous system disorders.

CEO Tom Brown said, “We are fundamentally a science company, but our board brings more to TPP than scientific excellence - these are individuals with a substantial track record of commercial success.”

TPP is headquartered in Edinburgh, Scotland. The company says it aims to form genuine partnerships with academic researchers throughout the UK, Europe, US and Asia to translate novel research into safe and effective drugs.