Biofusion launches Genophrenix
Second new spin-out company to focus on developing targets and compounds to treat schizophrenia
Biofusion plc announced the creation of Genophrenix Limited, a new spin-out company from its pipeline agreement with the University of Sheffield. Genophrenix has been formed to capitalise on the discovery of specific proteins that are involved with a key biochemical pathway implicated in a range of neuropsychiatric diseases, including schizophrenia. The initial discovery of these new proteins was the result of work carried out by Dr Jamal Nasir, of the University of Sheffield Medical School. Biofusion owns a 60% shareholding in the company.
The genetic basis of schizophrenia is still poorly understood and consequently the understanding of the mode of action of currently prescribed drugs for schizophrenia is far from complete. As a result many of the drugs which are currently used to treat schizophrenia cause unwanted and potentially severe side-effects and lack acceptable efficacy. These limitations often lead to patients discontinuing therapy, clearly a very unsatisfactory outcome. It is clear that a more precise understanding of the causes of schizophrenia are required if new improved therapeutics, that are clearly needed to treat this disease, are to be developed.
Genophrenix believes that their discovery of proteins thought to play a role in the development of schizophrenia, will allow it to become an important partner to the pharmaceutical industry in developing new therapies and drug targets for the treatment of schizophrenia. The Company will seek to consolidate existing findings in the field of schizophrenia in order to add value to the intellectual property that it has already generated. Genophrenix aims to develop packages of novel proprietary therapeutic targets and compounds which can be licensed to major global pharmaceutical companies focused on developing new treatments for schizophrenia.
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