Corporate Banner
Satellite Banner
Biologics & Bioprocessing
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Absynth Biologics Limited Secures £850,000 Funding to Develop its Products

Published: Monday, July 22, 2013
Last Updated: Monday, July 22, 2013
Bookmark and Share
Absynth Biologics Limited, one of Fusion’s portfolio companies, has secured £850,000 in funding from new and existing investors.

Absynth is a UK biotechnology spinout company from the University of Sheffield. It has developed a distinctive, non-conventional approach to developing vaccines and therapeutic antibodies based on identifying novel, conserved bacterial antigens that are essential and also antibody-accessible.  Bacterial infections are a major cause of death worldwide, with microbial drug resistance being a significant contributing factor.

Lead programmes undertaken by Absynth target Staphylococcus aureus including its drug-resistant form MRSA, against which vaccines and antibodies of other companies have failed to show clinical efficacy – Absynth’s approach has the potential to succeed where others have previously failed.

Absynth’s novel antigens offer broad potential against a range of bacterial infections and form the basis of the company’s pipeline that includes vaccines to prevent Clostridium difficile and Streptococcus pyogenes infections.

Absynth will use the investment to advance the Staphylococcus aureus  programme to key pre-clinical milestones. The investment will also complement funding secured from the Biomedical Catalyst – a funding stream administered by the UK’s innovation agency, the Technology Strategy Board (TSB), to further develop Absynth’s product pipeline. This brings the total awarded to Absynth since 2012 to £175,000 in two grants from the TSB.

The North West Fund for Biomedical, managed by SPARK Impact, is investing £400,000 and Fusion IP is investing £450,000. Post–funding, Fusion will own a 42.84% equity shareholding in Absynth.
The North West Fund for Biomedical is part of the wider £155m North West Fund, financed jointly by the European Regional Development Fund and the European Investment Bank.

Fiona Marston, Chief Executive of Absynth Biologics, said:

“I am delighted to have the support of our new investor The North West Fund for Biomedical and the ongoing support of our existing shareholder Fusion IP. This investment will fund exciting stages of development for Absynth’s S. aureus vaccine and pipeline R&D programmes."

Dr Penny Attridge, senior investment director at SPARK Impact and manager of The North West Fund for Biomedical, said:

”We hope that this funding will help Absynth Biologics to continue to excel and further develop its products to make a real difference in targeting infectious diseases. We’re delighted to make this investment into such a forward thinking company which is clearly passionate about combating infectious diseases.”

Peter Grant, Operations Director for Fusion IP and Absynth’s chairman, said:

“We very much look forward to developing Absynth with our new investor, the North West Fund, to create a very exciting range of products in infectious diseases. The Absynth team are highly motivated and complemented by industry specific non-executive directors, all of whom work together to combat the very concerning threat of drug resistant bacteria.”


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,400+ scientific posters on ePosters
  • More than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
First Artificial Ribosome Designed
Researchers at the University of Illinois at Chicago and Northwestern University have engineered a tethered ribosome that works nearly as well as the authentic cellular component, or organelle, that produces all the proteins and enzymes within the cell.
Experimental MERS Vaccine Shows Promise in Animal Studies
A two-step regimen of experimental vaccines against Middle East respiratory syndrome (MERS) prompted immune responses in mice and rhesus macaques, report National Institutes of Health scientists who designed the vaccines.
Sweet Revenge Against Superbugs
A special type of synthetic sugar could be the latest weapon in the fight against superbugs.
Researchers Develop Vaccine that Protects Primates Against Ebola
A collaborative team from The University of Texas Medical Branch at Galveston and the National Institutes of Health have developed an inhalable vaccine that protects primates against Ebola.
Universal Flu Vaccine in the Works
A new study has demonstrated a potential strategy for developing a flu vaccine with potent, broad protection.
Immunotherapy Shows Promise for Myeloma
A strategy, which uses patients’ own immune cells, genetically engineered to target tumors, has shown significant success against multiple myeloma, a cancer of the plasma cells that is largely incurable.
Ferring Bets on Bacteriophages to Treat Inflammatory Bowel Disease
Ferring Pharmaceuticals have annoucned that it will collaborate with Intralytix in the latest phase of its early stage development programme for a bacteriophage-based therapy for inflammatory bowel disease (IBD).
A Novel Drug to FIght Malaria
An international team of scientists has announced that a new compound to fight malaria is ready for human trials.
Ebola Vaccine Trial Begins in Senegal
A clinical trial to evaluate an Ebola vaccine has begun in Dakar, Senegal, after initial research started at the Jenner Institute, Oxford University.
New Cell Structure Finding Might Lead to Novel Cancer Therapies
University of Warwick scientists in the U.K. say they have discovered a cell structure which could help researchers understand why some cancers develop.
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,400+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!