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Fusion IP PLC (FIP)

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Wednesday 10 April, 2013

Fusion IP PLC

New Fusion portfolio company - PH Theraputics Ltd

RNS Number : 9257B
Fusion IP PLC
10 April 2013
 



For immediate release

10 April 2013

 

FUSION IP PLC

("Fusion" or "the Company")

New Fusion portfolio company - PH Therapeutics Ltd

Fusion IP (AIM: FIP), the university commercialisation company which turns university research into business, is pleased to announce a new portfolio company, PH Therapeutics Ltd, has been formed under its exclusive agreement with the University of Sheffield.

PH Therapeutics, which is founded on the research of Dr Allan Lawrie from the Department of Cardiovascular Science, aims to develop biologic treatments for the rare disease Pulmonary Arterial Hypertension (PAH). PAH is caused by the thickening of the walls in arteries that take blood from the heart to the lungs, making it harder for blood to flow through them resulting in high blood pressure. The increase in pressure puts a strain on the heart that can lead to difficulty in breathing and heart failure. Current therapies only attempt to alleviate the symptoms of this disease through relaxing the vessels.  PH Therapeutics is developing therapies that specifically target molecules thought to be responsible for cell wall thickening. This may lead to control, and importantly reversal of the disease. PAH affects around 2 in 10,000 people in the European Union and is classed as an orphan disease.

In accordance with its agreement with the University of Sheffield, Fusion will start with a 60% shareholding in PH Therapeutics Ltd.

Peter Grant, Operations Director of Fusion IP, commented:

"PH Therapeutics is another Life-Sciences spin-out derived from the world-class research at the University of Sheffield and we look forward to working with Allan and the team, as they develop this ground-breaking IP.  This is another example of commercialisation of IP for an orphan or rare disease with the potential of bringing real benefits to patients". 

Allan Lawrie, Founder and MRC Career Development Fellow, commented:

"Although several treatments exist for treating the symptoms of PAH, these have not been shown to be as effective as hoped for patients suffering from this life-threatening disease.  I am delighted that through PH Therapeutics, working in conjunction with the University of Sheffield and SheffieldPulmonary Vascular Disease Unit we will begin the journey of developing new and better treatments for patients".

 

 

 

 

For further information please contact:

Fusion IP

+44 (0) 114 275 5555

David Baynes, CEO

Stuart Gall, Press Relations

 

 

Cenkos Securities plc                                                                                                                   +44 (0) 20 7397 8900

Elizabeth Bowman, Bobbie Hilliam (Corporate Finance)

Julian Morse (Sales)      

 

About Fusion IP

Fusion IP plc (Fusion) was established in 2002 to commercialise university-generated intellectual property. It has long-term exclusive agreements with two of the UK's leading research-intensive universities, the University of Sheffield and Cardiff University, giving it exclusive access to all the IP generated by their research departments*. These exclusive agreements enable Fusion to identify world class IP and turn it into a commercial opportunity, either through the creation of a start-up company or a license.

Fusion IP currently owns shareholdings in over 20 portfolio companies, including significant shareholdings in Seren, Magnomatics, Phase Focus, MedaPhor, Asalus and Diurnal.

In 2012 Fusion IP announced it's first major exit, when it sold its portfolio company Simcyp, a research-based business providing a modelling and simulation platform for predicting the fate of drugs in virtual populations, to US based Certara LP for $32 million, a 200 fold return on its original investment.

On 25 March 2013 Fusion announced that it had conditionally raised £20 million through an issue of 36,363,637 ordinary shares of 1p in the Company at a price of 55p per share to existing and new institutional shareholders. Fusion also announced that it had signed agreements with two additional universities - the University of Nottingham and Swansea University.

For more information, visit www.fusionip.co.uk

*The expanded agreement with the University of Sheffield did not include the right to the IP from Sheffield's Advanced Materials Research Centre.

 

About PH Therapeutics

Further information on PH Therapeutics Ltd can be found at: www.phtherapeutics.com


This information is provided by RNS
The company news service from the London Stock Exchange
 
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