Imperial Innovations Group plc reported progress by three of its portfolio companies, PolyTherics Ltd, Circassia Ltd and Thiakis Ltd.
PolyTherics signed a collaboration agreement with the private equity fund Celtic Pharma, to use its drug modification technologies to improve the characteristics of drugs being developed by Celtic Pharma. The company, in which Imperial Innovations has a 20 percent stake, also announced recently that it is expanding of its collaboration with the medical devices company Biocompatibles International, in the field of drug device combination products.
Meanwhile, Circassia Ltd, an immune system specialist, started a Phase II Clinical Study with its anti-allergy technology, ToleroMune in treating cat allergy, a condition which affects approximately 17 percent of Americans and 9 percent of Europeans.
Imperial Innovation has a 13.2 percent holding in the company, which completed a GBP 11 million funding round in January 2008.
And Thiakis Ltd, which is developing natural gut hormones for the treatment of obesity, started a clinical trial of TKS1225, an oxyntomodulin analogue.
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