NeuroTargets Patent Grant

RNS Number : 0522Z

Angle PLC

07 January 2011

 



For immediate release

7 January 2011

ANGLE plc ("the Company")

NeuroTargets Patent Grant

ANGLE plc ("ANGLE"), the international venture management company focusing on the commercialisation of technology and innovation, is delighted to announce further progress with NeuroTargets, its 25% portfolio company specialising in neurological conditions.  ANGLE also holds convertible loans in NeuroTargets, which if converted could increase its holding to c. 70%.

As previously announced, NeuroTargets has licensed its intellectual property in relation to neuropathic pain therapeutic molecules to the University of Bristol, who have used that background IP to successfully raise funding of £4.3 million from the Wellcome Trust to advance its galanin programme focused on new treatments for neuropathic pain.

In addition to the work on neuropathic pain, NeuroTargets has through Professor Wynick's research also progressed investigation of the use of its galanin-based molecules for the treatment of Multiple Sclerosis (MS) and Alzheimer's disease (AD) and has had positive pre-clinical results.  The MS work has been published in Proceedings of the National Academy of Sciences of USA and most recently Professor Wynick has submitted a scientific paper to the Journal of Alzheimer's Disease providing the scientific basis for the use of galanin to treat AD.  Following peer review it is hoped that this paper will be published in early Summer 2011.

NeuroTargets has submitted applications for patents over the use of galanin molecules for the treatment of MS and AD.  The first such application has now resulted in a granted patent in Australia for the use of galanin to treat MS and AD.  The applications in the US, EU and other important territories are ongoing.

ANGLE Founder and Chief Executive, Andrew Newland, commented:

"The grant of this patent extends NeuroTargets' intellectual property beyond the neuropathic pain area into the major markets for unmet clinical need of Multiple Sclerosis (MS) and Alzheimer's disease (AD)."

For further information:

ANGLE plc	01483 685830
Andrew Newland, Chief Executive Ian Griffiths, Finance Director
Collins Stewart Europe Limited Stewart Wallace	0207 523 8350
Scott Harris Stephen Scott, James O'Shaughnessy, Harry Dee	0207 653 0030

Notes to Editors

ANGLE plc 

Founded in 1994, ANGLE focuses on the commercialisation of technology and the development of technology-based industry. ANGLE creates, develops and advises technology businesses on its own behalf and for its clients. 

ANGLE's specialist Management services business provides support on a fee-for-service basis to major clients around the world involved in incubation, IP commercialisation, SME innovation and growth and the operation of science & technology parks.

ANGLE also owns a portfolio of company holdings with high growth potential in the medical and technology sectors.  These have been developed whilst subsidiaries of ANGLE using its proprietary Progeny® process.  ANGLE seeks to retain a substantial shareholding in these companies with a view to ongoing returns from dividend, milestone, royalty and capital returns.   

ANGLE's technology commercialisation skills are of increasing relevance as global economies focus on regeneration, innovation and value added components to their industries.  ANGLE's technology skills in IT and software, medical and life sciences, cleantech and renewable energies are directly relevant to major growth markets of the future and are marketed as specialised Management services. 

ANGLE is quoted on AIM (AGL.L); further information can be found on www.ANGLEplc.com 

About the Wellcome Trust

The Wellcome Trust is a global charity dedicated to achieving extraordinary improvements in human and animal health. It supports the brightest minds in biomedical research and the medical humanities. The Trust's breadth of support includes public engagement, education and the application of research to improve health. It is independent of both political and commercial interests.

www.wellcome.ac.uk

 

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