Fusion IP
Fusion IP owns the rights to 100% of the university-owned research generated at two of the UK's leading universities – The University of Sheffield and Cardiff University. These exclusive partnerships enable us to invest in some the world's most advanced and exciting science, turning world class research into business through the creation of a growing portfolio of companies, in fields as varied as drug discovery, alternative energy and engineering.
Angel Biotechnology to provide consultancy services for Fusion IP’s latest spin-out Progenteq
Bio-pharmaceutical contractorAngel Biotechnology (AIM: ABH) has signed a contract with university IP commercialisation company Fusion IP’s (AIM: FIP) latest spin-out company, Progenteq. The company will provide the newly established venture with consultancy and development services as Progenteq develops and commercialises its novel cartilage replacement therapy. The terms of the contract have not been disclosed.
"We are delighted to be working with Progenteq on its novel cell therapy. Being awarded this contract further acknowledges our experience and expertise in the field of regenerative medicine development and manufacturing”, Angel's chief operating officer Gordon Sherriff said.
Progenteq is developing a novel cartilage replacement, using technology developed by Professor Charlie Archer's research group at Cardiff University's School of Biosciences. Archer’s group successfully isolated a defined population of cells, with stem-cell-like properties, from the articular cartilage which surround the main bones in the knee joint. According to Progenteq these cells, when derived from donors, can be used to grow a large tissue-bank that is suitable for insertion into patients when needed. This procedure is referred to as "allogeneic" cartilage replacement therapy.
Progenteq believes that this new therapy-model promises a more cost-effective cell therapy than current "autologous" approaches, where a patient’s own cells are removed, expanded and then implanted. "We are tremendously excited by the prospect of this novel cell therapy. Angel is well placed to assist the company in its product development activities and we look forward to working with them as we progress Progenteq towards the clinic", Progenteq Director Dominic Griffiths commented.
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Other Fusion IP articles
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10/02/10 Fusion IP spins out LED business from Sheffield University
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08/02/10 Fusion IP spins out cartilage therapy business from Cardiff Uni partnership
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09/11/09 Fusion IP raises £3.2 million through share placement, IP Group participates
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16/02/09 Fusion IP: commercialising the next big thing
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17/03/10 Fusion IP partner Abcellute's tissue bank gets NHS Research committee approval
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28/01/10 Fusion IP reveals new Cardiff Uni spin-out to commercialise laparoscopic surgical devices
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22/12/09 Fusion IP's Mesuro stake now at 49%, gets £0.6 million valuation uplift
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11/12/09 Fusion IP contributes £75,000 of total £190,000 new investment in ultrasound training device maker MedaPhor
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07/12/09 Fusion IP invests £300,000 in drug delivery group Diurnal from Sheffield University
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04/12/09 Fusion IP Investee Morvus raises £2.15 mln and Inks ProTide Licensing Agreement with NuCana BioMed
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03/12/09 Fusion IP calls shareholder IP Group’s Alison Fielding to the board
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20/11/09 Fusion IP secures £0.8 million licensing deal for University of Sheffield orthopaedic planning software