Corporate Banner
Satellite Banner
Pharma Outsourcing
Scientific Community
Become a Member | Sign in
Home>News>This Article

Canbex Therapeutics Completes £2.1m ($3.2m) Financing Round

Published: Monday, April 08, 2013
Last Updated: Monday, April 08, 2013
Bookmark and Share
Fundraising will enable the Company to complete the early development of its lead candidate for the treatment of spasticity in multiple sclerosis (MS).

Merck Serono Ventures, the venture capital arm of Merck Serono, led the financing for this round.
“The goal of the Canbex programme is to set a new standard in the treatment of spasticity through improved tolerability,” said Jesse Schulman, CEO of Canbex. “Spasticity is among the most serious and debilitating symptoms of MS. VSN16R, our lead investigational candidate, has the potential to make a difference to people with MS.”

Nilesh Kumar, Director of Merck Serono Ventures, will join the Canbex Board of Directors. Kumar said: “We believe that an effective and well-tolerated treatment for spasticity would address an important medical need, and that VSN16R has the potential to make a major contribution in the area of symptomatic treatments of MS.”

Canbex is a spin-out of University College London (UCL) and was founded by a leading scientific team including Professor David Baker and Professor David Selwood, later joined by Professor Gavin Giovannoni, a practicing MS clinician who is a global leader in MS drug development and clinical research. The company received a Translation Award from the Wellcome Trust in 2011 to support development of VSN16R.

In addition to Merck Serono Ventures, other participants in the financing round included UCL Business PLC (UCLB), the technology transfer company of UCL, and the Wellcome Trust, through the release of the remaining tranches of funding from the 2011 Translation Award.

UCLB Senior Business Manager Abigail Watts commented: “UCLB are delighted that with this latest investment Canbex will see its lead MS therapeutic move into human trials.”

Past investors in Canbex include Fast Forward, the commercial drug development arm of the US National Multiple Sclerosis Society, the Bloomsbury Bio-Seed Fund and the venture capital fund Esperante SA.

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 2,600+ scientific posters on ePosters
  • More than 3,800+ 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 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
Atriva Therapeutics GmbH Develops Innovative Flu Drug
Highly effective against seasonal and pandemic influenza.
Study Removes Cancer Doubt for Multiple Sclerosis Drug
Researchers from Queen Mary University of London are calling on the medical community to reconsider developing a known drug to treat people with relapsing Multiple sclerosis after new evidence shows it does not increase the risk of cancer as previously thought.
Antibody Treatment Efficacious in Psoriasis
An experimental, biologic treatment, brodalumab, achieved 100 percent reduction in psoriasis symptoms in twice as many patients as a second, commonly used treatment, according to the results of a multicenter clinical trial led by Mount Sinai researchers.
Scientists Test New Gene Therapy for Vision Loss from a Mitochondrial Disease
NIH-funded study shows success in targeting mitochondrial DNA in mice.
HIV Patients Should Be Included in Early Clinical Trials of Anti-TB Drugs
Tuberculosis is the number one cause of death in HIV-infected patients in Africa and a leading cause of death in this population worldwide.
Multi-Gene Test Enables Some Breast Cancer Patients to Safely Avoid Chemotherapy
A major study is providing the best evidence to date that a 21-gene test done on the tumor can identify breast cancer patients who can safely avoid chemotherapy.
Low Dose Beta-Blockers As Effective As High Dose After a Heart Attack?
Heart attack patients live as long – or even longer – on one-quarter the suggested dose.
Antidepressants Plus Blood-Thinners Slow Down Brain Cancer
EPFL scientists have found that combining antidepressants with anticoagulants slows down brain tumors (gliomas) in mice.
Old Drug Performs New Tricks
Cambridge-led research reveals the powers of a "wonder drug" that has lain under the noses of doctors for 50 years.
Electronic Reminders Keep TB Patients on Track With Medication In China
Giving electronic reminders to tuberculosis (TB) patients in China can reduce the amount of medication doses they miss by half, according to new research.
Scroll Up
Scroll Down

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
2,600+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos