ImmunoSolv, an Edinburgh, Scotland, UK-based developer of immunology platform technology, has merged with Aberdeen-based Grampian BioConsultants Limited.
The merged company will retain the name ImmunoSolv Limited.
The transaction provides ImmunoSolv with a complementary portfolio of immunology and immuno-technology expertise to target the key global emerging markets for its Dead-Cert® dead-cell removal technology platform* and its anti-cancer therapeutics pipeline.
The opportunities associated with this transaction include the acceleration and development of the two key components of the combined businesses – GBC’s contract research and the sale of ImmunoSolv’s Dead-Cert®dead-cell removal kits. Most importantly, however, the merger offers opportunities to build further value through technologies based on a combination of expertise in the detection and control of programmed cell death (apoptosis) with expertise in antibody engineering. Applications will include regenerative medicine, highly-tailored protein therapeutics, and diagnostic proteins.
The new company also completed a fundraising from existing investors Grampian BioPartners, with additional matched funding from the Scottish Enterprise’ Scottish Co-Investment Fund.
In addition, since early 2010, ImmunoSolv has received two highly competitive Technology Strategy Board (“TSB”) funding grants to apply its dead-cell removal technology to develop clinical grade products and processes in the field of regenerative medicine.
With the fundraising, these grants, plus further investment from the University of Edinburgh, brings over £500K into the company.
The infusion of capital will allow ImmunoSolv Limited
i) to recruit a dedicated business development manager to direct and expand distribution and sales channels for current and in-development Dead-Cert® technology & products and for antibody contract research services,
ìì) accelerate revenue-stream growth by driving the completion of commercial and scientific milestones,
iii) to continue to transfer R&D into new products and services with an emphasis on clinical applications (e.g. therapeutic cell and protein production), through to anti-cancer and anti-inflammation biologics.
Following the merger, ImmunoSolv’s board of directors will include Chairman John Pool, together with Chief Executive Officer Dr. Ruth Murray, Chief Scientific Officer Prof. Chris Gregory, Prof. Andy Porter, Chief Technical Officer Dr. Keith Charlton and non-executive director Dr. John Pears. The management team of ImmunoSolv includes Dr. Murray, Prof. Gregory and Dr. Charlton, plus Chief Operating Officer Dr. Gillian Broadbent, and senior scientist Dr. John Pound.
*ImmunoSolv’s first product portfolio include Dead-Cert® reagents and services for detection and depletion of non-viable cells. The flaghip product is a magnetic, dead-cell removal device (Dead-Cert® Nanoparticles) that discriminates and separates viable cells from dead cells and cell debris in vitro.
Removal of dead-cells using the device enhances substantially the growth of the remaining viable cells and, crucially, improves their productivity, resulting in cost benefits for bio manufacture.
FinSMEs
04/09/2010