14th May 2015 08:42
LONDON (Alliance News) - Imperial Innovations Group PLC said Thursday that its portfolio company TopiVert Pharma Ltd has begun a phase I study with its lead compound TOP1288 in ulcerative colitis.
Imperial Innovations has a 33.1% interest in TopiVert with a fair value of GBP6.0 million. TopiVert was formed in December 2011, following an investment of GBP8.0 million by Imperial Innovations and SV Life Sciences.
The phase I study will report in 2016, Imperial Innovations said.
"We are delighted with the progress that TopiVert's experienced management team has made in taking its first product into the clinic," said Director of Health Ventures at Imperial Innovations Maina Bhaman in a statement.
Shares in Imperial Innovations are trading up 3.3% at 459.50 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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