Funding raised
Therakind Ltd, a spin-off from the School of Pharmacy, University of London, has raised £300,000 from the quoted technology management specialist Ipso Ventures.
The company was set up to capitalise on new European legislation on paediatric medicines that aims to increase the amount of ethical research into paediatric medicines and increase the availability of medicines that have been authorised specifically for children.
Relatively few drugs are clinically evaluated in children and many children are unable to take adult drug formulations, such as tablets or capsules. Differences in the way that children absorb, metabolise and excrete drugs may cause them to suffer different adverse effects. Research suggests that children may also be at higher risk of medication administration errors.
According to the European Commission, 50 to 90 per cent of all medicinal products used in the paediatric population have never been studied in, or authorised for use on children.
Therakind’s first product is an intra-nasal formulation of diamorphine, developed for use in paediatric pain control. It is envisaged that two relatively small clinical studies will be required prior to submission for regulatory approval.
Ipso invested an initial £120,000 in October 2006 and following this latest investment will hold 50 per cent of the shares of Therakind.
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