RCP Therapeutics moves its HQ from California to London as it seals $10M first round

RCP Therapeutics Ltd, a specialist in the application of nanotechnology in regenerative medicine, moved its headquarters to London as it closed a $10 million first round funding.

The company is built around the assets and intellectual property of Telemolecular Corporation, which had previously in-licensed nanoparticle technology from a number of US universities. Telemolecular had raised $7 million from private investors but new management, appointed to run the business in May 2008 set in motion a business strategy culminating in the formation of RCP Therapeutics and the move to London.

RCP will retain its research laboratory in Sacramento, and plans to expand the Californian operation and increase the number of scientists and staff employed there. However, Robert Sexauer, CEO believes the company can organise and conduct Phase I clinical studies faster and less expensively in the EU, especially in Eastern Europe. “Furthermore, we may look to establish additional research facilities in the EU, especially as its governments have demonstrated aggressive efforts to assist emerging companies with tax incentives that are not generally available in the US,” said Sexauer.  

The company’s lead product Nano SOD uses nanoparticles to deliver the enzyme superoxide dismutase to treat brain damage caused by ishcemic strokes. The product is also being developed to stabilise and preserve human organs for transplant, extending the time they will remain viable after removal from the donor.

The nanoparticles are able to cross the blood brain barrier and RCP intends to use this ability to develop cell therapies for neurodegenerative diseases such as Alzheimer’s and Parkinson’s diseases. RCP also has nanoparticles that can be targeted directly at mitochondria within the cell, which it intends to use to deliver marketed chemotherapy drugs. It is thought this direct targeting will overcome the multi-drug resistance mechanisms by which cancer cells develop the ability pump out chemotherapeutics.

Sexauer said, “We are delighted to have completed the formal acquisition of Telomolecular’s intellectual property and assets. Our vision is focused on the convergence between nanotechnologies and cellular targeting. In the area of regenerative medicine, we are developing novel products and therapies.

He added that RCP wants to acquire intellectual property rights in the field of regenerative medicine, saying “We plan to forge alliances with leading European research institutions to commercialise cell-based technologies.

The $10 million funding came from FirstPoint Biotech, a specialist life sciences investor based in San Francisco.