Celtic Pharma Holdings and PolyTherics announce investment into novel biopharmaceutical programme

28-Jan-2010 - United Kingdom

Celtic Pharma Holdings Advisors LLP, the advisor to Celtic Pharma Holdings II LP (“CP2”), together with PolyTherics Limited announced an investment into a research programme to develop a novel biopharmaceutical molecule.

This research programme will be undertaken jointly by PolyTherics and Cantab BioPharmaceuticals Limited , a wholly-owned subsidiary of CP2 based in Cambridge, UK. PolyTherics will receive an upfront payment and ongoing technical support for the research, while CP2 may elect to submit two further proteins for research under the collaboration. PolyTherics grants CP2 an option to license products arising from the research collaboration, with PolyTherics receiving a share of any commercial returns. Further details of the agreement terms were not disclosed.

Commenting on the investment, John Mayo, Managing Partner of CP2 said: “The next generation of biopharmaceuticals will need to deliver increased benefits to patients, physicians and healthcare systems over the original products. We believe that PEGylation will be a key technology in addressing this need. Our investment in this project furthers our strategy of investing in companies and projects with well- differentiated technologies. Our commercial, regulatory, drug development and manufacturing experience will increase both the probability of success and the value of the products developed with PolyTherics. The advanced PolyTherics technology has proven itself elsewhere in this field and we are looking forward to working with the team and replicating its successes in our programmes.”

https://www.bionity.com/en/news/112382/celtic-pharma-holdings-and-polytherics-announce-investment-into-novel-biopharmaceutical-programme.html