1st Oct 2013 08:20
LONDON (Alliance News) - Imperial Innovations Group PLC, which commercializes and invests in technology developed by research institutions and universities, Tuesday said one of its investment companies has got positive results from the latest trial of a grass allergy treatment, and it made a seed investment into an enzyme technology company.
It said portfolio company Circassia, a specialty biopharmaceutical company focused on allergy, has achieved successful results from a large phase II clinical study of its grass allergy treatment.
Patients who received a short course of Circassia's ToleroMune treatment before the pollen season had significantly improved allergy symptoms at the end of the season compared with those on placebo, Imperial said in a statement.
Separately, it said it had invested an initial GBP600,000 in Oxford Biotrans, which is developing proprietary enzyme technology to convert low cost feedstocks into high value chemical compounds.
Oxford Biotrans is a spinout from Isis Innovation and other shareholders include Oxford University and IP Group PLC.
The Oxford Biotrans technology can be applied to a range of products and the company is developing a pipeline of flavour and fragrance products, Imperial said. The company's technology also has potential application in the production of a range of specialty chemicals including pharmaceuticals and agrochemicals.
Imperial Innovations shares were up 8.3% at 376.25 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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