Funding Next-Generation Anticoagulants
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LUNAC Therapeutics (LUNAC), a UK based drug discovery company focused on the identification and development of advanced anticoagulants with minimal bleeding risk, has announced it has spun out of the University of Leeds with £2.65M funding in the first close of a Series A financing round. The investment is being led by Epidarex Capital and the University of Leeds. The Company was founded based on IP generated by Professor Helen Philippou and Dr Richard Foster, through insights built on a decade of academic research into Factor XII which has been supported by the Wellcome Trust, British Heart Foundation and the Medical Research Council.
LUNAC is targeting activated Factor XII to identify and develop next-generation anticoagulants. Current therapies carry the risk of causing bleeding, and LUNAC believes that targeting the coagulation cascade at the level of Factor XII will reduce this risk. Factor XII is implicated in the formation of pathological clot formation, but not the stemming of bleeding. Furthermore, individuals who lack Factor XII do not exhibit bleeding symptoms, unlike those with a deficiency of any other coagulation factor.
Philippou says: “There is an urgent need for anticoagulant therapies with reduced bleeding risk. Our research has validated that targeting activated Factor XII may lead to differentiated therapies and a new treatment option for patients.”
Andy Duley, Director of Commercialization at the University of Leeds, commented: “We are excited to be working together with Epidarex Capital on this significant funding round, to maximize the potential of the University’s research in the field of anticoagulation and build upon the decade of academic research into Factor XII at the University.”