14 May 2015 07:00
RNS REACH
14 May 2015
Imperial Innovations Group plc
TopiVert starts Phase I Clinical Trial in Ulcerative Colitis
Imperial Innovations Group plc (AIM: IVO; 'the Group', 'Innovations') notes that portfolio company TopiVert Pharma Ltd ('TopiVert' or the 'Company') today started a Phase I study with its lead compound, TOP1288, in ulcerative colitis ('UC') a common inflammatory disease affecting the large bowel.
TOP1288 is a Narrow Spectrum Kinase Inhibitor ('NSKI') a novel class of small molecules with specific characteristics designed to deliver local effects in inflammatory cells whilst avoiding significant systemic exposure. The Phase I study is being conducted at a specialist centre in London and will report in 2016.
TopiVert is clinical-stage biotech focused on pioneering topical treatments for serious inflammatory diseases. The Company was formed in December 2011, following an investment of £8.0m by Innovations and SV Life Sciences.
In December 2013, TopiVert raised a further £17.0 million in a funding round which brought in new investors Johnson & Johnson Development Corporation and Neomed Management, alongside Innovations and SV Life Sciences.
At 31 January 2015, the Group had a 33.1% interest in TopiVert with a fair value of £6.0million.
Maina Bhaman, Director of Healthcare Ventures, Imperial Innovations said:
"We are delighted with the progress that TopiVert's experienced management team has made in taking its first product into the clinic.
"Ulcerative Colitis is a debilitating condition that arises because the body's immune system is triggered to produce an inflammatory reaction in the intestinal tract that leads to damage of the intestinal wall. It is commonly treated with corticosteroids but for many patients this proves to be unsatisfactory either because they fail to respond or because they become dependent upon steroids to maintain disease remission.
"For such patients the current option is to move to an immunosuppressant or a systemic biologic treatment. However, TopiVert is developing a novel topical treatment which could provide a locally acting drug in the colon without systemic side effects. This would provide significant relief for many sufferers of this disease."
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Notes to editors
About Imperial Innovations - www.imperialinnovations.co.uk
Imperial Innovations Group plc creates, builds and invests in pioneering technologies developed from the academic research within the 'Golden Triangle' broadly bounded by London, Cambridge and Oxford, which is home to the UK's four leading research-intensive universities.
This area is home to many new technology companies through its proximity to the academic communities of Imperial College London, the University of Cambridge, the University of Oxford and University College London, as well as other leading research institutions.
Imperial College London, the University of Cambridge, the University of Oxford and University College London collectively have research income of £1.4 billion per annum and are ranked as four of the top ten Universities in the world (source: QS World University Rankings 2014/15).
Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs.
Since admission of its shares to trading on AIM in 2006, Innovations has raised more than £346.0 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has a £30.0 million loan facility from the European Investment Bank (EIB) for investment in biotech and therapeutics businesses.
During the period from admission on AIM up until 31 January 2015, Innovations has invested a total of £198.3 million across its portfolio companies, which have raised collectively investment of £926.8 million rising to £1.0 billion including post period end investments and commitments.
About TopiVert - www.topivert.com
TopiVert is a clinical-stage biotech focused on pioneering topical treatments for serious inflammatory diseases. TopiVert's specifically designed small molecules, with a localised, non-systemic mode of action, exert a synergistic effect on key kinases which play a pivotal role in multiple inflammatory pathways, leading to broad efficacy in both innate and adaptive immunity.
TopiVert's lead compound, TOP1288, is now in Phase I clinical development in both patients and healthy volunteers with data expected in H1 2016. The Company also has a candidate for ocular inflammatory conditions scheduled to start clinical trials in 2016 in addition to a range of early-stage molecules in development.
TopiVert commenced operations in early 2012 and its investors include Imperial Innovations, SV Life Sciences, NeoMed, and a strategic investment from Johnson and Johnson Development Corporation.