Collaboration agreed
Imperial College London and the London School of Pharmacy spin-out PolyTherics Ltd has agreed a collaboration with Lund, Sweden-based Alligator Bioscience AB. explore the biological effects of the polymer-based technologies developed by PolyTherics on proteins optimised and provided by Alligator.
The parties intend to use the intellectual property generated by their collaboration to explore the development and commercialisation potential of next generation protein-based products. Financial details were not disclosed.
Dr Keith Powell, Chief Executive Officer of PolyTherics, said: “A key element of PolyTherics’ business strategy is to exploit our proprietary technologies in expanding the product potential of proteins. We have developed and continue to develop technologies to improve every type of protein therapeutic; from antibody fragments to enzymes, both natural and improved. We are excited by the prospects for this collaboration with Alligator and our shared vision of exploring next generation biopharmaceuticals.”
Dr Gun-Britt Fransson, Chief Executive Officer of Alligator, commented: “The collaboration with PolyTherics supports Alligator’s strategy to further expand its pipeline with optimised drug candidates into new areas of indications. We are excited to see the outcome of combining the two companies technologies.”
PolyTherics has been supported financially through an initial seed investment, followed in June 2007 by £2.3 million from Imperial Innovations Group plc, Longbow Capital LLP and The Capital Fund in June 2007 and through deal-generated revenues.
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