We are also looking to broaden its investor base by the year end, with a view to raising further funds in 2004 to finance the clinical development of the respiratory disease vaccine candidates being identified in the current pre-clinical programme.
ImmBio was formed to exploit advances in the emerging science of immunobiology that have clarified the mechanisms by which the immune system recognises and responds to infectious disease pathogens. We are applying our HspC technology platform to identify vaccine candidates for clinical development as anti-infective products for the prevention and treatment of infectious diseases. ImmBio have a bacterial vaccine programme underway and is beginning a viral vaccine programme, initially focussing on respiratory diseases.
The initial target for our bacterial programme is tuberculosis, an increasingly serious healthcare issue, and the programme has already identified candidate HspC vaccines for both the prevention and the treatment of TB. The live BCG vaccine currently used for prophylaxis shows little protection against pulmonary TB, the major form of the disease. There are no therapeutic vaccines available and the rise in the incidence of multi-drug resistant TB (especially in HIV patients), as well as safety concerns recently raised about therapeutic DNA vaccination, makes the need for an effective therapeutic TB vaccine a global health priority. We are also working on potential TB booster vaccine candidates for use in BCG vaccines, to combat the problem of short-lived immunity.
Our Managing Director, Camilo Colaco said: The funds raised will enable us to complete our current TB vaccine candidate identification programme and begin identification of HspC vaccine candidates for both annual and pandemic influenza vaccines. Whilst fundraising was difficult in the current climate, the recent Severe Respiratory Distress Syndrome (SARS) epidemic has reminded investors of both the global healthcare need and commercial relevance of infectious disease vaccines.
Generics Asset Management’s Managing Director, Chris Coggill, said: Generics Asset Management is delighted to have led this funding round for ImmBio. Its business plan and the underlying science are rigorous and there is no doubting that ImmBio is trying to meet a significant need in the healthcare industry globally. |
