21st Sep 2009 07:00
Imperial Innovations Group plc
£1.16 million investment to help Cell Medica commercialise pioneering cell therapy
London, 21 September 2009. Imperial Innovations Group plc (AIM: IVO, 'Imperial Innovations'), a leading technology commercialisation and investment company, has invested £1.16 m in Cell Medica Ltd., an early stage cellular therapeutics company developing innovative cell-based treatments for infectious disease and cancer.
Imperial Innovations led the £1.95 million funding round, which included £0.79 m from private investors. Cell Medica has now raised a total of £4.5 m in equity and convertible debt investment capital. The proceeds will be used by Cell Medica to commercialise Virus-specific Immune Reconstitution, a cell therapy technique which protects patients with weakened immune systems against cytomegalovirus (CMV) infections, particularly after bone marrow transplants. Infections are a major cause of mortality in this patient group.
Launched in 2007 with funding from Imperial Innovations and the Wellcome Trust, Cell Medica is commercialising clinically proven cell therapy techniques, some of which were developed at Imperial College London.
Imperial Innovations has provided Cell Medica with early stage company support services and industry expertise, including the appointment of investment manager Maina Bhaman to its board.
Susan Searle, CEO of Imperial Innovations, said:
"We believe Cell Medica has an important new approach to the treatment of many serious diseases and are confident that our funding and support will help it become a commercial success."
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Enquiries:
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Imperial Innovations |
020 7594 6589 |
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Susan Searle, Chief Executive Officer |
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Diana Crisp, PR Manager |
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College Hill |
020 7457 2020 |
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Carl Franklin / Tony Stephenson |
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Cell Medica |
020 7554 4070 |
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Gregg Sando, Chief Executive Officer |
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J.P. Morgan Cazenove (NOMAD to Imperial Innovations) |
020 7588 2828 |
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Steve Baldwin |
Note to Editors
About Imperial Innovations
Imperial Innovations is one of the UK's leading technology commercialisation and investment companies. Founded in 1986 and admitted to the AIM Market of the London Stock Exchange in 2006, Imperial Innovations' access to early stage technology and intellectual property is unparalleled.
Imperial Innovations' integrated commercialisation approach encompasses the identification of ideas, the protection of intellectual property, the development and licensing of technology and the formation, incubation and funding, through investment, of technology businesses.
Based at Imperial College, London, Imperial Innovations' portfolio of equity holdings in more than 80 companies spans its three core areas of Healthcare, Engineering & IT, and Energy & Environment.
Companies in the portfolio of Imperial Innovations include: Circassia (allergy therapeutics), Evo Electric (electric motor and generator solutions), Nexeon (lithium ion battery technology), Polytherics (drug development), Quantasol (solar concentrators) and Respivert (respiratory drug development).
Imperial Innovations has already realised significant value from its investments to date including from a recent trade sale in December 2008 when Thiakis Limited, a company in which Imperial Innovations had a 23.7% stake, was sold for up to £100 million to US-based Wyeth Pharmaceuticals. More recent trade sales include certain Heliswirl IP to Technip and InforSense to IDBS.
www.imperialinnovations.co.uk
About Cell Medica
Cell Medica is a clinical stage cellular therapeutics company engaged in the development and delivery of cellular immunotherapy treatment strategies for infectious disease. The Company's lead clinical application, involves the transfer of donor-derived virus-specific T cells into a patient in order to prevent infections following bone marrow transplant.
Cell Medica was founded to convert a complex cellular immunotherapy technique developed by members of its Scientific Advisory Board into a cost effective and convenient medical treatment which can be used by hospitals on a routine basis. The method has been proven safe and effective in several exploratory clinical studies, and is currently being tested in a controlled, randomised clinical study across 11 centres in the UK.
www.cellmedica.co.uk
Related Shares:
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