7th Oct 2014 08:42
LONDON (Alliance News) - US based science and technology development company Allied Minds PLC said Tuesday it is launching a biotechnology company called Novare Pharmaceuticals.
Novare is an expansion of its subsidiary, previously known as ProGDERM, and will be focused on developing therapeutic products that "help the body replenish and rebuild itself" using its Receptor for Hyaluronan Mediated Motility modulation technology, or RHAMM. ProGDerm has been developing a dermal filler for aesthetic applications that works via the modulation of RHAMM.
RHAMM is a protein in humans that is encoded by the HMMR gene; it is involved in the regulation of cell movement and cell differentiation.
Allied Minds said that research led by London Health Sciences Centre oncology scientist Eva Turley shows the RHAMM modulation has the potential to address conditions including arthritis, fibrotic diseases, and the reduction and possible elimination of keloid scars.
It may also be used to regenerate and reconstruct breasts after a mastectomy, Allied Minds said.
"We are excited by the opportunity to further explore the potential therapeutic applications of RHAMM modulation technologies as the studies conducted to date show promising, medically relevant, drug-induced biological responses," said Chief Executive of Novare Michael Delmage in a statement.
Shares in Allied Minds are trading down 0.5% at 277.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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