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 A novel synthetic antibody enables conditional “protein knockdown” in vertebrates
20.08.2018 | Technische Universität Dresden

nachricht Climate Impact Research in Hannover: Small Plants against Large Waves
17.08.2018 | Leibniz Universität Hannover

All articles from Life Sciences >>>

The most recent press releases about innovation >>>

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

Im Focus: It’s All in the Mix: Jülich Researchers are Developing Fast-Charging Solid-State Batteries

There are currently great hopes for solid-state batteries. They contain no liquid parts that could leak or catch fire. For this reason, they do not require cooling and are considered to be much safer, more reliable, and longer lasting than traditional lithium-ion batteries. Jülich scientists have now introduced a new concept that allows currents up to ten times greater during charging and discharging than previously described in the literature. The improvement was achieved by a “clever” choice of materials with a focus on consistently good compatibility. All components were made from phosphate compounds, which are well matched both chemically and mechanically.

The low current is considered one of the biggest hurdles in the development of solid-state batteries. It is the reason why the batteries take a relatively long...

Im Focus: Color effects from transparent 3D-printed nanostructures

New design tool automatically creates nanostructure 3D-print templates for user-given colors
Scientists present work at prestigious SIGGRAPH conference

Most of the objects we see are colored by pigments, but using pigments has disadvantages: such colors can fade, industrial pigments are often toxic, and...

Im Focus: Unraveling the nature of 'whistlers' from space in the lab

A new study sheds light on how ultralow frequency radio waves and plasmas interact

Scientists at the University of California, Los Angeles present new research on a curious cosmic phenomenon known as "whistlers" -- very low frequency packets...

Im Focus: New interactive machine learning tool makes car designs more aerodynamic

Scientists develop first tool to use machine learning methods to compute flow around interactively designable 3D objects. Tool will be presented at this year’s prestigious SIGGRAPH conference.

When engineers or designers want to test the aerodynamic properties of the newly designed shape of a car, airplane, or other object, they would normally model...

Im Focus: Robots as 'pump attendants': TU Graz develops robot-controlled rapid charging system for e-vehicles

Researchers from TU Graz and their industry partners have unveiled a world first: the prototype of a robot-controlled, high-speed combined charging system (CCS) for electric vehicles that enables series charging of cars in various parking positions.

Global demand for electric vehicles is forecast to rise sharply: by 2025, the number of new vehicle registrations is expected to reach 25 million per year....

All Focus news of the innovation-report >>>

Anzeige

Anzeige

VideoLinks
Industry & Economy
Event News

LaserForum 2018 deals with 3D production of components

17.08.2018 | Event News

Within reach of the Universe

08.08.2018 | Event News

A journey through the history of microscopy – new exhibition opens at the MDC

27.07.2018 | Event News

 
Latest News

A novel synthetic antibody enables conditional “protein knockdown” in vertebrates

20.08.2018 | Life Sciences

Metamolds: Molding a mold

20.08.2018 | Information Technology

It’s All in the Mix: Jülich Researchers are Developing Fast-Charging Solid-State Batteries

20.08.2018 | Power and Electrical Engineering

VideoLinks
Science & Research
Overview of more VideoLinks >>>