Polytherics expands relationship with Pro Bono Bio

29 May 2012

Imperial Innovations Group plc

Polytherics expands relationship with Pro Bono Bio

Imperial Innovations Group plc (AIM: IVO, 'Innovations'), a leading technology commercialisation and investment group, announces that portfolio company PolyTherics, a provider of solutions for the development of better biopharmaceuticals, has expanded its relationship with international healthcare group Pro Bono Bio Group plc.

PolyTherics has developed proprietary technology for attaching the polymer Polyethylene Glycol (PEG) to specific sites of therapeutic peptides and proteins. This process, known as PEGylation, slows the elimination of drugs from the body, thereby improving their duration of action and allowing them to be dosed less frequently, which can decrease side effects and improvepatient compliance.

PolyTherics and affiliates of Pro Bono Bio have been working together to produce longer-acting versions of blood factor proteins for the treatment of different types of haemophilia. Good technical and scientific progress has been made on the development of Factor IX PEGylated using PolyTherics' TheraPEG™ technology. The parties have now extended their collaboration to develop a second blood factor, TheraPEG™ Factor VIIa and to conduct a feasibility study for a third TheraPEG™ Factor VIII.

PolyTherics has transferred its TheraPEG™ PEGylation process to Pro Bono Bio's biomanufacturing affiliate to enable the production of larger quantities of this longer-acting Factor IX for further development. Completion of the technology transfer process triggered a milestone payment to PolyTherics in April 2012.

PolyTherics is due to receive further development and regulatory milestones as well as royalties on future worldwide product sales under the terms of the TheraPEG™ licence agreements for Factor IX and Factor VIIa. Clinical development of these products is expected to be initiated within the next 18-24 months.

Susan Searle, CEO of Imperial Innovations commented:

"Expanding its relationship with Pro Bono Bio is a great opportunity for one of our key companies, PolyTherics, to combine the strengths of both companies towards the progression of TheraPEG™ products. This is exciting news for PolyTherics and reinforces the ability of its technology to help create more effective biopharmaceuticals."

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Imperial Innovations - www.imperialinnovations.co.uk 

Innovations creates, builds and invests in pioneering university technologies addressing global problems in healthcare, energy, engineering and the environment. It combines deep understanding of science and technology with commercial acumen and strong investment expertise.

Innovations supports scientist-entrepreneurs in the commercialisation of their ideas by:

·; leading the formation of new companies and providing facilities in the early stages

·; providing significant investment and encouraging co-investment to accelerate the transition from R&D to products

·; providing operational expertise

·; helping to recruit high-calibre industry figures and experienced entrepreneurs as executive management and Board members

Innovations invests in companies based on technologies from or associated with four universities: Imperial College London; and Cambridge University, Oxford University, and UCL supported by its collaborations with Cambridge Enterprise, OSEM and UCL Business. These are the UK's leading research intensive universities, measured by research income.

By raising £140 million in January 2011, Innovations has been able to accelerate the making of, and increase the size of its investments. In the year to 31 July 2011, Innovations invested £35.1 million (2010: £14 million) in 23 ventures, and launched six new companies.

In its current portfolio of 78 companies, Innovations' most advanced assets include Circassia, which develops innovative vaccines for the treatment of a wide range of allergies; and Nexeon, a battery materials and licensing company which develops silicon anodes which extend the life and increase the capacity of lithium-ion batteries.

About PolyTherics Ltd

PolyTherics is a privately-owned life sciences technology company that provides technology solutions to enable the development of better biopharmaceuticals.

PolyTherics' proprietary conjugation technologies, TheraPEG™, CyPEG™ and HiPEG™, have been used extensively to attach polymers, mainly polyethylene glycol (PEG), to specific sites on proteins and peptides to extend their duration of action and, more recently, to produce protein drug conjugates for delivery of a payload to target cells. Products developed using PolyTherics' technologies have significant advantages, including a better pharmacokinetic and pharmacodynamic profile, improved stability, and because they are more homogeneous, more efficient and cost-effective manufacture. Following its acquisition of Warwick Effect Polymers in January 2012 PolyTherics can provide two additional polymers, PolyPEG® and GlycoPol®, for the development of better biopharmaceuticals.

PolyTherics has raised over £7.5 million of private capital and is backed by a number of institutional investors, including Imperial Innovations (LON:IVO), Proven Health VCT plc, The Capital Fund, Longbow Growth & Income VCT plc, Oxford Technology VCT 3 plc and Oxford Technology 4 plc, Advantage Enterprise and Innovation Fund, Mercia Funds 1 & 2, and a number of high net worth individuals with funds managed by Longbow Capital LLP. The company has dedicated facilities in London and Coventry, UK, and welcomes enquiries from prospective partners interested in the application of the company's technologies to therapeutic development programmes.

http://www.polytherics.com

About Pro Bono Bio Group plc

Pro Bono Bio Group plc ("PBB") is an international healthcare company, based on pharmaceutical experience in product development, commercialisation and finance. We partner with specialist service providers to bring the best talent to bear on key unmet medical needs. In doing so we are creating and marketing commercially important new therapies.

Pro Bono Bio launched its first medicine, FLEXISEQ, for the treatment of pain associated with osteoarthritis in 2012 in Germany.

http://www.probonobio.com