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Biofusion Launches Genophrenix Second Spin-out Company
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Biofusion plc has announced the creation of Genophrenix Limited, a spin-out company from its pipeline agreement with the University of Sheffield.
Genophrenix has been formed to capitalise on the discovery of specific proteins that are involved with a key biochemical pathway implicated in a range of neuropsychiatric diseases, including schizophrenia.
The initial discovery of these proteins was the result of work carried out by Dr Jamal Nasir, of the University of Sheffield Medical School. Biofusion owns a 60% shareholding in the company.
Genophrenix believes that their discovery of proteins thought to play a role in the development of schizophrenia, will allow it to become an important partner to the pharmaceutical industry in developing therapies and drug targets for the treatment of schizophrenia.
The Company will seek to consolidate existing findings in the field of schizophrenia in order to add value to the intellectual property that it has already generated.
Genophrenix aims to develop packages of proprietary therapeutic targets and compounds which can be licensed to major global pharmaceutical companies focused on developing treatments for schizophrenia.
David Baynes, CEO of Biofusion, said, "Genophrenix is the tenth company in our portfolio and demonstrates the excellence of the academic staff at the University of Sheffield."
"Although this is clearly an early stage company, Genophrenix believes that by targeting specific proteins that are part of the dopamine signalling pathway, implicated in schizophrenia, it can help pharmaceutical companies to meet the need for more efficacious, less harmful therapeutic medicines for this market ."
