Corporate Banner
Satellite Banner
Immunology
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

Join For Free

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 2,900+ scientific posters on ePosters
  • More than 4,200+ 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
Unique Mechanism for a High-Risk Leukemia
Researchers uncovered the aberrant mechanism underlying a notoriously treatment-resistant acute lymphoblastic leukemia subtype; findings offer lessons for understanding all cancers.
Food Triggers Creation of Regulatory T Cells
IBS researchers document how normal diet establishes immune tolerance conditions in the small intestine.
Therapeutic Approach Gives Hope for Multiple Myeloma
A new therapeutic approach tested by a team from Maisonneuve-Rosemont Hospital (CIUSSS-EST, Montreal) and the University of Montreal gives promising results for the treatment of multiple myeloma, a cancer of the bone marrow currently considered incurable with conventional chemotherapy and for which the average life expectancy is about 6 or 7 years.
Cellular 'Relief Valve'
A team led by scientists at The Scripps Research Institute (TSRI) has solved a long-standing mystery in cell biology by showing essentially how a key “relief-valve” in cells does its job.
Switch Lets Salmonella Fight, Evade Immune System
Researchers at the University of Illinois at Chicago have discovered a molecular regulator that allows salmonella bacteria to switch from actively causing disease to lurking in a chronic but asymptomatic state called a biofilm.
Tricked-Out Immune Cells Could Attack Cancer
New cell-engineering technique may lead to precision immunotherapies.
Neural Networks Adapt to the Presence of a Toxic HIV Protein
HIV-associated neurocognitive disorders (HAND) afflict approximately half of HIV infected patients.
HIV Protein Manipulates Hundreds of Human Genes
Findings search for new or improved treatments for patients with AIDS.
Breaking the Brain’s Garbage Disposal
The children’s ataxia gene problem turned out to be not such a big deal genetically — it was such a slight mutation that it barely changed the way the cells made the protein.
Flesh-Eating Bacteria Work Together
Scientists recently discovered different strains of deadly flesh-eating bacteria working together to spread infection and they now have a better understanding of the role of the toxins they produce. The discovery could change how the illness and other diseases are treated.
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
2,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,200+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!