Forum for Science, Industry and Business

Sponsored by:     3M 
Search our Site:

 

Asterion Raises £355k Funding to Progress Novel Therapies for Hormone Related Diseases

15.05.2006
Asterion Ltd (“Asterion”), a Sheffield, UK-based drug development company and part of the Biofusion portfolio, announces today that it has raised £355k to progress its novel therapies for hormone-related diseases. Biofusion plc (“Biofusion”), the University Intellectual Property (IP) commercialisation company, led the round, investing £250k.

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
Further information:
http://www.whiteroseseedcorn.com

More articles from Life Sciences:

nachricht Modern genetic sequencing tools give clearer picture of how corals are related
17.08.2017 | University of Washington

nachricht The irresistible fragrance of dying vinegar flies
16.08.2017 | Max-Planck-Institut für chemische Ökologie

All articles from Life Sciences >>>

The most recent press releases about innovation >>>

Die letzten 5 Focus-News des innovations-reports im Überblick:

Im Focus: Fizzy soda water could be key to clean manufacture of flat wonder material: Graphene

Whether you call it effervescent, fizzy, or sparkling, carbonated water is making a comeback as a beverage. Aside from quenching thirst, researchers at the University of Illinois at Urbana-Champaign have discovered a new use for these "bubbly" concoctions that will have major impact on the manufacturer of the world's thinnest, flattest, and one most useful materials -- graphene.

As graphene's popularity grows as an advanced "wonder" material, the speed and quality at which it can be manufactured will be paramount. With that in mind,...

Im Focus: Exotic quantum states made from light: Physicists create optical “wells” for a super-photon

Physicists at the University of Bonn have managed to create optical hollows and more complex patterns into which the light of a Bose-Einstein condensate flows. The creation of such highly low-loss structures for light is a prerequisite for complex light circuits, such as for quantum information processing for a new generation of computers. The researchers are now presenting their results in the journal Nature Photonics.

Light particles (photons) occur as tiny, indivisible portions. Many thousands of these light portions can be merged to form a single super-photon if they are...

Im Focus: Circular RNA linked to brain function

For the first time, scientists have shown that circular RNA is linked to brain function. When a RNA molecule called Cdr1as was deleted from the genome of mice, the animals had problems filtering out unnecessary information – like patients suffering from neuropsychiatric disorders.

While hundreds of circular RNAs (circRNAs) are abundant in mammalian brains, one big question has remained unanswered: What are they actually good for? In the...

Im Focus: RAVAN CubeSat measures Earth's outgoing energy

An experimental small satellite has successfully collected and delivered data on a key measurement for predicting changes in Earth's climate.

The Radiometer Assessment using Vertically Aligned Nanotubes (RAVAN) CubeSat was launched into low-Earth orbit on Nov. 11, 2016, in order to test new...

Im Focus: Scientists shine new light on the “other high temperature superconductor”

A study led by scientists of the Max Planck Institute for the Structure and Dynamics of Matter (MPSD) at the Center for Free-Electron Laser Science in Hamburg presents evidence of the coexistence of superconductivity and “charge-density-waves” in compounds of the poorly-studied family of bismuthates. This observation opens up new perspectives for a deeper understanding of the phenomenon of high-temperature superconductivity, a topic which is at the core of condensed matter research since more than 30 years. The paper by Nicoletti et al has been published in the PNAS.

Since the beginning of the 20th century, superconductivity had been observed in some metals at temperatures only a few degrees above the absolute zero (minus...

All Focus news of the innovation-report >>>

Anzeige

Anzeige

Event News

Call for Papers – ICNFT 2018, 5th International Conference on New Forming Technology

16.08.2017 | Event News

Sustainability is the business model of tomorrow

04.08.2017 | Event News

Clash of Realities 2017: Registration now open. International Conference at TH Köln

26.07.2017 | Event News

 
Latest News

Gold shines through properties of nano biosensors

17.08.2017 | Physics and Astronomy

Greenland ice flow likely to speed up: New data assert glaciers move over sediment, which gets more slippery as it gets wetter

17.08.2017 | Earth Sciences

Mars 2020 mission to use smart methods to seek signs of past life

17.08.2017 | Physics and Astronomy

VideoLinks
B2B-VideoLinks
More VideoLinks >>>