Catalyst
BioMedica fund DanioLabs in the search for novel treatments for
neurological and ophthalmic disorders.
6th
November 2002 Following
on from their initial successful financing earlier this year,
therapeutics business DanioLabs has today announced further funding from
a new investor Catalyst BioMedica – a subsidiary of the Wellcome
Trust. This provides a
further £456k that will allow DanioLabs to progress research in its
core areas of neurology and ophthalmics.
Dr
Paul Goldsmith, DanioLabs CSO said, “we are delighted to have secured
funding from the Wellcome Trust through Catalyst BioMedica. We hope that
this will help us identify and develop new treatment for epilepsy as
part of proof-of-principle work we are conducting across a range of
neurological and ophthalmic diseases. However, epilepsy is
also important in its own right, affecting 1 in 200 of the population.
Some 1% of children and 0.5% of adults exhibit recurrent seizures, with
3% of the population having at least one seizure during their life. For
the majority of sufferers, lifelong treatment is necessary. 10-20% of
patients have resistant seizures, despite trying several of the
currently available medications in combination. The major clinical
problem – and unmet need – for the majority of patients is
drug-induced side effects. The investment should also serve to
strengthen our link with the Wellcome Trust Sanger Institute. We are
delighted to have their expertise supporting us.’
Dr
Amanda Hayward, Business Development Manager, Catalyst BioMedica said,
“We are pleased to be supporting the DanioLabs research programme, and
hope that the DanioLabs approach will lead to the development of new
treatments that improve human health.”
DanioLabs
Limited is a Cambridge-based therapeutics
company. Current investors
include the Cambridge Angels and the University of Cambridge Challenge
Fund. Since inception, the
company has continued to expand its technology platform across a range
of neurological and ophthalmic diseases.
Catalyst
BioMedica Ltd
is a business development and new ventures company that aims to support
the mission of the Wellcome Trust by advance the development and
application of biomedical science for the purposes of improving human
and animal health. Catalyst was established as a subsidiary of the
Wellcome Trust, one of the largest philanthropic organisations
supporting medical research in the world, to increase the flow of new
science into innovative products and technologies of practical medical
benefit. A key component of the company's strategy is to build a
portfolio of innovative projects that feed the venture and industry
pipelines. The company manages a Development Fund to add value to basic
research projects that have the potential to improve health.
ENDS
For
more information, see www.catalystbiomedica.org.uk
or contact
paul.goldsmith@daniolabs.com
www.daniolabs.com
