The White Rose Technology Seedcorn Fund (“WRTSF”), the venture capital fund owned by the Universities of Leeds, Sheffield and York, invested £105k. Following the investment, Biofusion’s shareholding in Asterion will be 38.01%.
Asterion is developing specialised hormones (cytokines) which are implicated in a range of diseases including diabetes and cancer as well as obesity, growth and inflammatory disorders. Asterion has developed and patented a range of technologies to produce cytokine agonists, which mimic or complement the action of a target hormone, and cytokine antagonists which reduce or inhibit the hormone action. Drugs based on these technologies have the potential to lower dose requirements, increase stability and slow clearance from the bloodstream, all leading to potentially improved performance.
Asterion has established a research programme with a major multi-national pharmaceutical company to develop growth hormone antagonists and agonists.
The new investment will enable Asterion’s to expand its research and technologies to further target hormones. These include established pharmaceuticals such as erythropoietin as well as drug targets of the future including the obesity hormone, leptin.
Peter Grant, CEO of Asterion, and a Director of Biofusion, said: “Asterion has already shown the potential of its technology through its growth hormone licensing deal. This new investment will allow us to advance a number of other product candidates which we believe will be of considerable interest to the pharmaceutical industry.”
David Baynes, CEO of Biofusion, said: “We are delighted by the progress made by the Asterion team and excited by the potential of their technology. Asterion demonstrates the strength in depth of the Biofusion portfolio, providing us with the significant potential upside of a genuine drug development company.”
Dr Joe Wiley, WRTSF’s Investment Manager said: “WRTSF provided initial funding to found Asterion in 2001 and since then the Company has met all its technological milestones and continues to represent a strong investment opportunity. Asterion is a great example of world-leading research from with within the White Rose universities that can deliver real benefits to thousands of people suffering from debilitating diseases.”
Dr Joe Wiley | alfa
New risk factors for anxiety disorders
24.02.2017 | Julius-Maximilians-Universität Würzburg
Stingless bees have their nests protected by soldiers
24.02.2017 | Johannes Gutenberg-Universität Mainz
In the field of nanoscience, an international team of physicists with participants from Konstanz has achieved a breakthrough in understanding heat transport
Cells need to repair damaged DNA in our genes to prevent the development of cancer and other diseases. Our cells therefore activate and send “repair-proteins”...
The Fraunhofer IWS Dresden and Technische Universität Dresden inaugurated their jointly operated Center for Additive Manufacturing Dresden (AMCD) with a festive ceremony on February 7, 2017. Scientists from various disciplines perform research on materials, additive manufacturing processes and innovative technologies, which build up components in a layer by layer process. This technology opens up new horizons for component design and combinations of functions. For example during fabrication, electrical conductors and sensors are already able to be additively manufactured into components. They provide information about stress conditions of a product during operation.
The 3D-printing technology, or additive manufacturing as it is often called, has long made the step out of scientific research laboratories into industrial...
Nature does amazing things with limited design materials. Grass, for example, can support its own weight, resist strong wind loads, and recover after being...
Nanometer-scale magnetic perforated grids could create new possibilities for computing. Together with international colleagues, scientists from the Helmholtz Zentrum Dresden-Rossendorf (HZDR) have shown how a cobalt grid can be reliably programmed at room temperature. In addition they discovered that for every hole ("antidot") three magnetic states can be configured. The results have been published in the journal "Scientific Reports".
Physicist Dr. Rantej Bali from the HZDR, together with scientists from Singapore and Australia, designed a special grid structure in a thin layer of cobalt in...
13.02.2017 | Event News
10.02.2017 | Event News
09.02.2017 | Event News
24.02.2017 | Life Sciences
24.02.2017 | Life Sciences
24.02.2017 | Trade Fair News