TopiVert, a London, UK-based developer of topical anti-inflammatories for the treatment of diseases of the gastrointestinal tract and eye, raised a £4.5m follow-on investment from Imperial Innovations Group plc (AIM: IVO).
Backers in the round (whose total amount was not disclosed) also included existing investor SV Life Sciences, and new investors NeoMed Management and Johnson & Johnson Development Corporation.
The company intends to use the funds to develop its NSKI technology.
Operation from the Imperial College Incubator, TopiVert has licensed NSKI (narrow spectrum kinase inhibitor) related intellectual property and is developing this technology for inflammatory diseases of the eye and gut. In addition, the company has entered into an exclusive drug discovery collaboration with RespiVert aimed at identifying novel NSKIs. TopiVert retains exclusive rights over those newly discovered NSKIs which have application in the treatment of inflammatory eye and gut diseases such as uveitis and inflammatory bowel disease, while RespiVert retains a global exclusive rights over NSKIs with application in the treatment of Asthma, COPD and Cystic Fibrosis and other inflammatory diseases of the lungs.
06/12/2011: TopiVert Raises £8M