| 6th November 2002
Catalyst BioMedica fund DanioLabs in the search for
novel treatments for neurological and ophthalmic disorders
Following on from their initial successful
financing earlier this year, therapeutics business DanioLabs
has today announced further funding from a new investor
Catalyst BioMedica – a subsidiary of the Wellcome
Trust. This provides a further £456k that will
allow DanioLabs to progress research in its core areas
of neurology and ophthalmics.
Dr Paul Goldsmith, DanioLabs CSO
said, “we are
delighted to have secured funding from the Wellcome Trust
through Catalyst BioMedica. We hope that this will help
us identify and develop new treatment for epilepsy as
part of proof-of-principle work we are conducting across
a range of neurological and ophthalmic diseases. However,
epilepsy is also important in its own right, affecting
1 in 200 of the population. Some 1% of children and 0.5%
of adults exhibit recurrent seizures, with 3% of the
population having at least one seizure during their life.
For the majority of sufferers, lifelong treatment is
necessary. 10-20% of patients have resistant seizures,
despite trying several of the currently available medications
in combination. The major clinical problem – and
unmet need – for the majority of patients is drug-induced
side effects. The investment should also serve to strengthen
our link with the Wellcome Trust Sanger Institute. We
are delighted to have their expertise supporting us.’
Dr Amanda Hayward, Business Development
Manager, Catalyst BioMedica said, “We are pleased
to be supporting the DanioLabs research programme,
and hope that the DanioLabs
approach will lead to the development of new treatments
that improve human health.”
DanioLabs Limited is a Cambridge-based therapeutics
company. Current investors include the Cambridge Angels
and the University of Cambridge Challenge Fund. Since
inception, the company has continued to expand its technology
platform across a range of neurological and ophthalmic
diseases.
Catalyst BioMedica Ltd is a business development and
new ventures company that aims to support the mission
of the Wellcome Trust by advance the development and
application of biomedical science for the purposes of
improving human and animal health. Catalyst was established
as a subsidiary of the Wellcome Trust, one of the largest
philanthropic organisations supporting medical research
in the world, to increase the flow of new science into
innovative products and technologies of practical medical
benefit. A key component of the company's strategy is
to build a portfolio of innovative projects that feed
the venture and industry pipelines. The company manages
a Development Fund to add value to basic research projects
that have the potential to improve health.
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