Cantab Biopharmaceuticals Limited, a Cambridge, UK-based biopharmaceutical company, has received a “significant” funding from Celtic Pharma Holdings Advisors LLP, via the fund Celtic Pharma Holdings II LP (CP2).
Cantab, which is wholly owned by CP2, is focused on developing improved biological medicines (biosuperiors) designed to offer superior therapeutic efficacy and convenience over originator products.
The new capital will enable the company to develop improved biological medicines or “biosuperiors”.
Initially Cantab will use the funding to target specific ‘bio-superior’ opportunities in the area of haematology through its own resources and through agreements to access innovative technology platforms from third parties. The company will aim to progress these candidates to Phase I or Phase II at which point partners will be sought to develop the programmes further.
The initial commitment is approximately £5m over 3 years and is designed to allow Cantab to take its first biosuperior product into clinical trials.
In the longer term, the company aims to build a pipeline of ‘bio-superior’ candidates in other therapeutic areas, including infectious disease.
In conjunction with the investment, Cantab has appointed Dr. Jim Mills, formerly Director of Operations at Cambridge Biomanufacturing Limited, as Chief Executive Officer.
Dr Stephen Parker will become non-executive Chairman and John Mayo and Dr Bill Henry will become non-executive Directors.
All three non-executive Directors are partners of Celtic Pharma Holdings Advisors.