Corporate Banner
Satellite Banner
ADME Tox
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

UK Biotechnology Firm Receives £700k Funding Boost

Published: Friday, July 12, 2013
Last Updated: Friday, July 12, 2013
Bookmark and Share
Investment will progress the development of a new generation of biological therapeutics through advanced glycosylation technologies.

Glythera Ltd is delighted to announce that it has successfully achieved a number of technical and commercial milestones which has resulted in the release of a second tranche of funding totalling £700k from IP Group and its managed fund, the Finance for Business North East Technology Fund.

Glythera, a UK based spin out specialising in a new generation of biological therapeutics through advanced glycosylation technologies, received an initial investment of £600,000 in April 2012.The funds have been used by the company to continue the development of a new generation of biological therapeutics including its core technologies - Permalink™ and Permacarb™. These technologies will be used to create drugs with unprecedented biological stability, bioavailability and therapeutic efficacy.

Glythera reached its technical and commercial targets ahead of schedule including the validation of Glythera’s Permalink™ technology and establishment of partnerships with four pharmaceutical companies. This demonstrates how the company is effectively managing the financial investment it has received. The third tranche of investment will be made available once further technological progress has been made and commercial traction successfully achieved.

Glythera is based in the Newcastle-upon-Tyne INEX incubator facility, ideally placed within the North East of England which is fast becoming one of the top ten places in the world to do science based business. With the financial support from IP Group, Glythera is continuing to establish itself within the region and has demonstrated its commitment to growth with the creation of seven new jobs.

The additional investment coincides with Glythera consolidating its board of directors with the addition of Cassie Doherty from IP Group. With a wealth of expertise and experience in commercial development Cassie’s appointment represents a significant benefit to the company in achieving specific business development related outcomes. Cassie completes a team of three that comprises the board of directors at Glythera including CEO of Cyprotex and Chairman of Equinox Pharma Dr Anthony  Baxter and William Bains representing Bath University.

Commenting on the investment Dr Baxter said, “Glythera is a shining example of how a spin out company can be successfully brought to commercialisation. By meeting the criteria to receive the second installment of funding it has shown that it is capable of developing innovative technology in a challenging market. I am extremely pleased to be involved at this exciting time for the company and I look forward to continuing to working with the team as it leads the way in the development of ground breaking biological therapeutics for the benefit of the pharmaceutical industry.”

Chief Operating Officer Dr. David Simpson said, “We are delighted with the progress that has been made throughout the research and development process so far thanks to the expertise of the Glythera team in the discovery, development and manufacturing of complex biologics. This funding will enable us to continue with the commercialisation of our products and maximise the opportunities available to us in the market.”


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
RNAi Screening Trends
Understand current trends and learn which application areas are expected to gain in popularity over the next few years.
Long-sought Discovery Fills in Missing Details of Cell 'Switchboard'
A biomedical breakthrough reveals never-before-seen details of the human body’s cellular switchboard that regulates sensory and hormonal responses.
Tracking Breast Cancer Before it Grows
A team of scientists led by University of Saskatchewan researcher Saroj Kumar is using cutting-edge Canadian Light Source techniques to screen and treat breast cancer at its earliest changes.
Zebrafish Reveal Drugs that may Improve Bone Marrow Transplant
Compounds boost stem cell engraftment; could allow more matches for patients with cancer and blood diseases.
Teeth Reveal Lifetime Exposures to Metals, Toxins
Researchers have identified dental biomarkers to reveal links between early iron exposure and late life brain diseases.
An Innovative Algorithm to Decipher How Drugs Work Inside the Body
Researchers at Columbia University Medical Center (CUMC) have developed a computer algorithm that is helping scientists see how drugs produce pharmacological effects inside the body.
Uncovering the Spread of Bacteria in Pneumonia
Northwestern Medicine scientists have discovered the role a toxin produced by a pneumonia-causing bacterium plays in the spread of infection from the lungs to the bloodstream in hospitalized patients.
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).
Rare Form: Novel Structures Built from DNA Emerge
DNA, the molecular foundation of life, has new tricks up its sleeve. The four bases from which it is composed can be artificially manipulated to construct endlessly varied forms in two and three dimensions.
Early Lead Exposure Has Long Lasting Effect
A team of researchers have found links between lead exposure in children and epigenetic alterations in regulatory regions of genes that are imprinted and known to be critical in growth regulation and brain development.
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!