30th Apr 2014 14:16
LONDON (Alliance News) - Oxford Biomedica said Wednesday it had received a GBP2.2 million grant from the UK government's Technology Strategy Board to help fund a Phase I/II clinical trial of its compound OXB-102 in the treatment of Parkinson's.
The compound is delivered with Oxford's LentiVector gene delivery technology.
The compound is a more potent version of its current treatment ProSavin, which completed a Phase I/II clinical trial in 2012. Pre-clinical efficacy studies undertaken in 2013 suggest the compound is at least five times more potent than ProSavin.
The fund was granted under the Technology Strategy Board's Biomedical Catalyst funding programme.
"This substantial second award will support our plans to further develop OXB-102 through the next stage of the clinical process and to its next value inflection point," said Chief Executive John Dawson in a statement.
Shares in Oxford were trading up 6.5% at 2.29 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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