Stabilitech Ltd has raised £3.3 million from new and existing investors, including business angels and high net worth individuals, to accelerate the development and commercialisation of its proprietary technology platform for stabilising vaccines, biopharmaceuticals and other biological products.
Two feasibility studies are already underway with potential partners, one a major pharmaceutical company, the other a diagnostics specialist, and the new funding will enable the company to develop further data packages.
Currently, vaccines and biopharmaceuticals require storage and transport under strictly controlled temperatures in a cold chain to ensure their potency. Stabilitech’s technology uses licensed excipients (inert substances added to pharmaceuticals to provide bulk) to stabilise vaccines and biopharmaceuticals, enabling them to be stored at a wide range of temperatures. The technology could be applied to products in development and new formulations of existing products coming off patent.
The technology has been successfully applied to live viral vaccines, including both enveloped and non-enveloped viruses, inactivated viruses and sub-unit vaccines as well as antibodies, peptides, enzymes, growth factors and other proteins.
The financing brings the total funds raised by the London-based company to date to £5.2 million.