15th Jun 2007 07:00
Ipso Ventures PLC15 June 2007 Therakind Investment Update Ipso Ventures plc ("Ipso"), the IP commercialisation specialist, announces thatits wholly owned subsidiary, Ipso Management Limited ("Ipso Management"), hasagreed to make a further investment of £300,000 in Therakind Limited("Therakind" or the "Company"), a paediatric drug development business, whichwas spun-out from The School of Pharmacy, University of London in October 2006. Therakind was established to capitalise on the paediatric drug developmentexpertise of Ian Wong BSc, MSc, PhD, MRPharmS, ILTM(HE), Professor of PaediatricMedicines Research at The School of Pharmacy, and in response to new Europeanlegislation on Paediatric Medicines. This legislation was implemented to improvethe health of children by increasing the amount of high quality, ethicalresearch into medicines and increase availability of authorised medicinalproducts for children. Nick Rodgers, Chief Executive of Ipso, said: "Relatively few licensedmedications are clinically evaluated in children and many children are unable totake adult drug formulations, such as tablets or capsules. Differences in theway that children absorb, metabolise and excrete drugs may cause them to sufferdifferent adverse effects. Research suggests that children may also be athigher risk of medication administration errors. The European Commission hasstated that 50 to 90 per cent of all medicinal products used in the paediatricpopulation, have never been studied or authorised for use on children. "The demand for properly formulated medicines for use on children is significantand I am delighted that Therakind has been established to help fulfil this need.Therakind has made rapid strides with its first product intra-nasal diamorphine,developed for use in paediatric pain control. It is envisaged that tworelatively small clinical studies will be required prior to submission forregulatory approval. "Further products are currently being reviewed with a view to some or all beingtaken forward to become approved products for paediatric use." Ipso Management invested an initial £120,000 in October 2006 and, following thislatest investment, will hold 50 per cent of the shares of Therakind. For further information, please contact: Ipso Venture plc Tel: 020 7812 6042Nick Rodgers, Chief Executive Rawlings Financial PR Limited Tel: 01756 770 376Catriona Valentine This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
PPG.L