Manchester, England, 6th July 2009 – F2G Limited, the Manchester UK based antifungal drug discovery and development company, today announced the initiation of a Phase I clinical study of FG3622, the company’s lead antifungal drug candidate.
The Phase 1 trial is a randomised, placebo-controlled study designed to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of FG3622. 100 healthy volunteers will be enrolled in the trial which will evaluate single as well as multiple ascending doses of FG3622 which will be administered orally. This clinical trial is the first-in-human study in the global development of FG3622 and will be conducted in the UK.
FG3622 is the first of a new generation of novel class systemic antifungal agents active by both oral and intravenous administration to enter the clinic. The mechanism of action, discovered by scientists at F2G, involves the selective inhibition of a fungal enzyme and is completely distinct from any other class of marketed antifungal agent. The compound displays highly potent activity against a wide range of clinically significant moulds including the common pathogen Aspergillus fumigatus which is the leading cause of Invasive Aspergillosis, a serious, debilitating disease associated with very high mortality rates despite current therapy options.
The incidence of serious life threatening fungal infections has increased steadily over the last 20 years as a result of an increase in the susceptible immunosuppressed patient population. There is a limited choice of antifungals to treat systemic infections and these are currently represented by only three classes of compound. Resistance is becoming an increasing problem, particularly amongst the azole class. The value of the systemic antifungal market rose to USD 3 billion in 2007 and is forecast to grow substantially in the next 7 years.
Mr Shane Kelly, Chief Executive of F2G said “The progress of the FG3622 program represents a tremendous milestone for our scientists and their approach to antifungal drug discovery. Based on its unique mechanism of action and compelling preclinical data, we are hopeful that FG3622 will offer a major advance in antifungal therapy.”
Dr Anthony Kennedy, Chief Scientific and Development Officer added “The first in man trial is an important step for F2G in the development of FG3622 and will provide us with the data needed to design and expedite clinical studies in patients.”
Dr Thomas Tscherning, Partner at BankInvest Biomedical Venture and Chairman of the F2G Board of Directors, commented “This is a significant achievement for F2G, as initiation of this first trial offers F2G the opportunity to demonstrate the broad clinical potential of a new class of antifungal therapeutics. There is a clear clinical need for new agents to treat systemic fungal infections and we believe FG3622 presents a very promising new approach to treating these serious and life-threatening conditions.”
About F2G Ltd:
Based in Manchester, UK, F2G Ltd is dedicated to the discovery and development of new and clinically superior drug classes to treat life-threatening systemic fungal infections in at-risk patient populations. The antifungal market is currently estimated at over 6 billion dollars annually and is growing steadily year on year. Market growth is expected to increase with the emergence of new clinical indications in allergies and asthma.
The company has impressive internal capabilities, employing a core team of scientists with a unique understanding of the antifungal arena, supported by an experienced management team. F2G operates a flexible business model, building value through the development of a balanced portfolio of antifungal assets across multiple validated TPPs.
For more information visit www.f2g.com
Paul Strzelecki has been appointed Honorary Visiting Professor at The University of Manchester, at the School of Electrical and Electronic Engineering.
Paul is an alumnus of the School, a Fellow of the Institute of Engineering and Technology and a Fellow of the Chartered Institute of Marketing.
Paul will have an enterprise focus to his role. This will include assisting the School with industrial contacts, helping researchers identify and commercialise intellectual property, through spin-out companies and licensing, and lecturing students in enterprise subjects relating to the electronics industry.
Currently Managing Director of Yorkville Advisors UKLLP offering a fund investing in global public companies, Paul has had a successful corporate career in the world of semiconductor and electronics including a European Vice President at Motorola before becoming a successful internet and mobile communications entrepreneur and a venture capitalist. Paul has also been an adviser to Manchester United FC.
The School is one of the largest electrical engineering schools in the UK and highly rated for its “Research Power” and is headed by Professor Andy Gibson. “The School has a good history of working with industry and I am delighted that Paul will be assisting with our goals and helping extend our international reach and collaborations across the spectrum of our innovative research activities “he said.
Paul is enthusiastic about his role. “Electrical technology continues to change the world, at work and play at an ever increasing rate” he said, “ yet there are still huge challenges to be met”. “Electrical engineering can provide solutions to climate change and reduction and changes in energy consumption.”
Paul is excited about one of the School’s expertise areas, where it leads the world: agri – electronics, which uses electrical and electronic technology to improve farming yields and to reduce waste in the food supply change. This links with another area where the University is taking a lead – sustainable consumption.
“It’s an honour to be asked to contribute to the world class team in Manchester. If we can create new businesses that literally change the world from the research activity and contribute to the UKs industrial future it will be a thrilling journey.
Last year, Paul was appointed to the Strategy Advisory Board of the UMIP Premier Fund (UPF), a unique fund dedicated to assisting the financing of spin-out companies from the University.
The University of Manchester’s Intellectual Property Commercialisation Company, UMIP Ltd, has won the Business Impact category at the Unico Awards which recognise and celebrate the impact of innovation.
UMIP was recognised by the judges for its spin-out company Transitive, which was acquired in November last year by IBM. Transitive’s technology allows the transportability of software applications across multiple hardware platforms with little or no modification. Today, Transitive products are installed on over 20M computers world-wide.
Unico is the UK’s leading knowledge transfer membership association and UMIP’s Dr Rich Ferrie picked up the Business Impact Award at the Association’s Gala Dinner at Brighton Racecourse in June.
The Impact Awards were open to all sectors of research that have made an outstanding impact through successful knowledge transfer. Awards were also made for a series of novel innovations in two other award categories: Environmental Impact and Public Policy and Service Impact. They recognise and celebrate the success of collaborative working and the process of transferring knowledge and expertise from the research base of higher education and the public sector for the wider benefit of society and the economy.
Commenting on the award, UMIP’s CEO, Clive Rowland, said: “Transitive is the latest of The University of Manchester’s notable commercialisation success stories and it is great for Transitive and UMIP to receive this level of recognition.“
For more information on The Impact Awards visit www.impactawards.org.uk.
Nanoco Group PLC began trading on the London Stock Exchange AIM Market at 0800 GMT, Friday, 1st May under the ticker symbol “NANO”. Shares have traded up over the first few days with the company now valued at greater than £90m. The commencement of trading represents Nanoco’s successful conclusion of the reverse takeover which was announced in late February 2009.
+44 (0) 161 831 1512
Nanoco Group plc:
+44 (0) 161 603 7900
Nanoco is a leading nanotechnology company involved in the development and manufacture of fluorescent semi-conducting materials called quantum dots (QDs).
QDs are a platform technology with wide-ranging applications across several industry sectors from solid state lighting, solar energy and next generation displays to life sciences. Applications based on QD materials have the potential to offer significant improvements over materials traditionally used, giving benefits to performance and energy savings.
Zeus Capital, the Manchester based investment bank, is Nominated Adviser and Broker to Nanoco Group PLC. Nanoco’s chief executive Dr Michael Edelman said: “This listing represents the next milestone in Nanoco’s rapid development.”
“Trading on the AIM Market of the London Stock Exchange allows Nanoco to continue to further strengthen its shareholder base and balance sheet, providing the resources needed to meet the growing demand for its products.”
Nanoco was founded in 2001 by two academics from Manchester University – Professor Paul O’Brien and Dr Nigel Pickett – to advance the development of quantum dots.
“Nanoco’s successful growth”, says Dr Michael Edelman, “is based on focusing our efforts on the development and mass production of high performance quantum dots and partnering with strategic quantum dot application developers around the world to get these exciting materials into the market.”
The Nanoco Group PLC business strategy is to work in partnership with quantum dot application developers. These application developers tend to be large global technology companies working to incorporate quantum dots into a specific end use application such as LEDs, solar cells and displays.
For further enquires please contact:
Nanoco Group PLC, Manchester, UK (www.nanocotechnologies.com);
7th May 2009
The University of Manchester and its intellectual property commercialisation company (UMIP) has signed an agreement with the Johnson & Johnson Corporate Office of Science and Technology (COSAT) to establish a proof-of-principle (PoP) Fund.
COSAT was established in 1978 to foster a long-standing focus on innovation and entrepreneurship by supporting and creating access to breakthrough science and technologies.
The Fund will allow scientists at the University to submit ideas with the promise of having a positive impact on human health. It will lead to projects that explore how new technological approaches, such as regenerative medicine, will impact the treatment of such chronic conditions as Alzheimer’s and diabetes as well as to the generation of new diagnostic markers and medical devices and materials which may help manage disease and wellness.
Successful projects could, post proof-of-principle and further development, be taken to market. This augments the University’s capability for funding innovative projects beyond spin-outs, which is already underpinned by the UMIP Premier Find (UPF).
Professor Rod Coombs, Vice-President for Innovation and Economic Development at The University of Manchester, said: “This fund will prove invaluable for scientists as they look to take their research to new levels and could lead to new technology platforms which will underpin new therapies. We are delighted that COSAT has chosen Manchester as a centre of excellence.”
Clive Rowland, Chief Executive Officer of UMIP, said: “This agreement will allow scientists to make major strides forward in their research as well as help them to develop that research into products with commercial potential. UMIP will make decisions on how to distribute the fund, based on the commercial case of each individual submission.”
Joe Smith, COSAT, and Prof Rod Coombs