Cambridge healthcare company, ImmunoBiology Limited (“ImmBio”) has successfully raised funds to apply its HspC™ technology platform to the development of pandemic vaccines. The increasing number of deaths from the recent outbreaks of influenza originating in the Fujian province of China has served as a timely reminder of the significant healthcare concerns associated with respiratory disease viruses such as SARS and influenza. The threat of an influenza pandemic is of serious concern to the WHO and is the primary driver for the government campaign to increase influenza vaccine coverage. However, the influenza outbreak of the Fujian strain emphasises the problem of limited cross-strain protection that is afforded by current vaccines. In addition the current production of influenza vaccines in eggs makes it too slow to respond to pandemics and new approaches are thus needed to develop effective pandemic vaccines. ImmBio’s HspC™ technology enables the rapid production of vaccines that give broad cross-strain protective immunity and is thus ideally suited to the development of pandemic vaccines. In addition HspC™ vaccines avoid the use of either live organisms or genetic material and the risks therein.
The funding includes a significant equity investment by biotechnology sector specialist investor Avlar BioVentures Limited and Huw Jones will join the board of directors at ImmBio. ImmBio was founded in May 1999 and has previously raised funds from three venture capital sources (Generics Asset Management, British Smaller Technology Companies VCT and Oxford Technology 2VCT). In addition ImmBio has been the recipient of both SMART feasibility and SMART Development awards by the DTI.
Dr Colaco was previously Director of IP for the biotechnology company Quadrant Healthcare plc. He was responsible for the development of Quadrant Healthcare’s IP portfolio that formed the basis of its successful Initial Public Offering (IPO) and full listing on the London Stock Exchange.
Camilo Colaco, ImmBio said “A very important aspect of the Avlar investment is the added value they bring with extensive experience in the Biotechnology sector and particularly in the vaccine industry.
Alan Goodman, Avlar’s CEO said: “Avlar BioVentures looks forward to the development of ImmBio as a leading vaccine industry player. Its business plan and the underlying science are rigorous and there is no doubting that ImmBio’s technology can be applied to meet the significant need for new and better vaccines in the healthcare industry globally.”
|
