Biotechnology Investment Forum bridges the bioclusters in Babraham and Boston, USA

21st November 2007

Three companies with global ambitions have won a transatlantic opportunity to pitch to the investment circuit in Boston, USA, after presenting their business plan at Babraham’s 4th Biotechnology Investment Forum. Asterion, ImmBio Therapeutics and ViraBiotech will take part in an organised funding roadshow in Boston next week to meet venture capitalists and other investors, members of the Global Entrepreneur Mentoring Programme and to present at The New England Venture Summit.

Babraham’s pioneering investment forums provide new and early-stage biomedical companies, drawn from across the UK and delivering a diverse array of technologies, with an opportunity to pitch their propositions to a forum of VC and Business Angel investor groups with particular interest in biotechnology. The best three presenting companies win the opportunity to meet and network with investors, senior pharmaceutical executives and entrepreneurs in New England.

Babraham Bioscience Technologies (BBT) launched its inaugural Biotechnology Investment Forum (BIF) in February 2006. The second BIF in October 2006 offered a novel dimension - linking the entrepreneurial activities of biotech clusters at Babraham and in Boston through the Global Entrepreneurs Programme, UKTI. Organised by the Global Entrepreneur Programme’s Dealmaker, Toby Wilson Waterworth, this initiative has successfully brought British companies together with a broader spectrum of investors. Immune Targeting Systems, one of the three companies selected to travel to Boston last year, met cornerstone investor Novartis Ventures and two mentors from the Global Entrepreneurs Programme who joined their Board. This led to their subsequent $8M Series A funding success and a $1M grant.

David Hardman, CEO of BBT commented, “We look to the BIF to promote much needed investment in early stage bio-ventures; the sponsorship from the UKTI enabling companies to go on to Boston is an ideal extension of the BBT initiative.“

The three companies selected at the most recent BIF will attend and pitch their business concept to an audience of potential non-executives/advisors/mentors and angel/VC investors in Boston, USA next week. The Global Entrepreneurs Programme and UKTI are generously arranging the tour and supporting the three winners' attendance, which includes presentations at the conference, with investors, and the Consulate reception hosted for them at the Consulate-General’s Office.

Dr Raymond Barlow, CEO Asterion Ltd said, “Asterion is delighted to have been short listed to present at the New England Venture Summit. Asterion’s novel, IP-protected, third-generation therapeutic proteins (AFTTM drugs) have superior profiles to existing marketed drugs and potentially address unmet needs in a global market of $64bn in value. Being able to present the benefits of our technologies in the US is an important part of our funding and business strategy.”

Graham Clarke, CEO of ImmBio Therapeutics, commented, “We are fortunate in having an investor base which includes European fund managers for our break-through vaccines. We are keen to now extend the technology, especially into therapeutics. The US plays such a major role in terms of market, companies and investors, that the opportunity to meet and present is unmissable for us.”

Professor Nigel Dimmock, Founder and Scientific Director of ViraBiotech, which has a ground breaking approach to the global treatment of influenza said, “ViraBiotech is delighted to have been given this opportunity to meet with venture capital companies in Boston and we are very grateful to UK TPI for their assistance in making this happen.“

Contact details

Babraham Bioscience Technologies Ltd
Contact by email
Tel: +44 (0)1223 496269
Fax: +44 (0)1223 496020

Dr Claire Cockcroft,
Head, External Relations Tel: +44 (0)1223 496260
Babraham Institute Fax: +44 (0)1223 496002
Contact by email

Nicola Kinsey,
Commercial Liaison Manager Tel: +44 (0)1223 496334
Babraham Bioscience Technologies Ltd Fax: +44 (0)1223 496020
Contact by email

Toby Wilson Waterworth, Global Deal Maker Tel: +44 (0) 7770450898
UK Trade and Investment, Global Entrepreneur Programme
Contact by email

Notes for Editors

Babraham Bioscience Technologies Ltd is the wholly-owned subsidiary and trading arm of the Babraham Institute. Coalescing scientific, technological and commercial excellence, BBT delivers the Knowledge Transfer remit of the Institute through the wider landscape of the Babraham Research Campus, catalysing opportunities for enterprise across the academic and commercial divide. BBT brings together all the elements to support innovation and enable the successful exploitation of research in the biomedical sector based on technologies emanating from the Babraham Institute and bioventures relocating to the Babraham Research Campus.

The Babraham Research Campus is the UK’s leading knowledge-driven Biomedical Park where world-class research, business know-how and entrepreneurial excellence come together to stimulate effective knowledge transfer and bridge the academic and commercial divide. The campus provides a unique and highly successful environment that actively fosters innovation and plays a pivotal role for biomedical start-up companies in the Cambridge region and with delivering innovation at the frontiers of biomedical research.

BBT has taken a prominent role regionally, initiating and leading partnerships to promote knowledge and skills flow and has established a reputation for successfully translating innovative science into viable business opportunities through partnerships for wealth creation. This is stimulating inward investment to the campus and contributing to regional development. Building on the success of the incubator model, BBT established a new venture, Aitua Ltd, formerly 'Babraham BioConcepts Ltd'. Aitua works closely with innovators to create and nurture emerging companies from world-class science and technology deriving mainly from the Babraham Institute or locating to the Babraham Research Campus. It will provide seed and early round funding, inject specific expertise and provide access to facilities to companies. BBT’s activities support wider investment in the life sciences to generate and sustain growth of the region’s healthcare economy. Website: www.babraham.com

The Babraham Institute is a charitable organisation devoted to biomedical research and is an institute of the Biotechnology and Biological Sciences Research Council (BBSRC). The Institute’s research is focused on understanding the biological events that underlie the normal functions of cells and on how their failure or abnormality may lead to disease. As such, Institute scientists are striving to find cures for conditions where there is currently no treatment or where the existing treatment is not fully effective or causes serious side effects. The latest technologies are being used to study the basis of conditions such as neurodegenerative disorders, birth defects, cancer and diseases of the immune and cardiovascular systems. With a strategic focus on ‘healthy ageing’, novel approaches for tackling chronic diseases and public health concerns like obesity are being discovered. The Institute’s innovative research is commercialised through Babraham Bioscience Technologies (BBT) Ltd, which also manages Babraham’s vibrant Bioincubator on the Babraham Research Campus, six miles south-east of Cambridge.  Website: www.babraham.co.uk

UK Trade & Investment’s Global Entrepreneur Programme provides assistance in the life sciences and information and technology sectors to successfully establish new opportunities. Visit http://www.entrepreneurs.gov.uk/gep/index.html for more information.

The Global Entrepreneurs Mentoring Programme http://www.entrepreneurs.gov.uk/gep/mentoring/en-GB.html provides UK life Science businesses with global potential with access to very experienced pharmaceutical executives who act as mentors, advisors or non-executives to help them achieve their ambitions.

Asterion is developing a range of third-generation therapeutic proteins that will improve the current treatment options for patients with chronic diseases. Using its novel, patented ProFuse TM therapeutic platform Asterion is generating and developing long-acting biopharmaceutical products that can be administered at a lower dose, less frequently and with the potential for fewer side effects than existing marketed drugs.

Asterion is adopting a lower risk development strategy by developing third-generation Asterion Fusion Technology (AFTTM) therapeutic proteins that address unmet clinical and commercial needs in large markets where the targets are validated, the clinical development path is known and the commercial opportunity is clear. 

These proprietary, best-in-class, third-generation, therapeutic products are being developed and commercialised through a combination of internal programmes and external collaborations.
Asterion’s most advanced product is a long-acting Growth Hormone agonist product for the treatment of growth disorders, which is being developed in a strategic alliance with Ipsen. Asterion also has internal programmes for other cytokine targets, which include erythropoietin (AFTTM-EPO), G-CSF (AFT TM –GCSF), interferons (AFT TM -Inteferon  ; AFT TM -Inteferon ) and leptin (AFT TM –Leptin),  products which will be used to treat diseases such as anaemia, neutropenia, multiple sclerosis, growth disorders and autoimmune disorders. 

ImmBio Therapeutics Ltd. (IBT) has been established to develop antibody-based therapeutic products for major human diseases utilising a unique technology platform for antibody production that involves the use of Heat Shock Protein Complexes (“HspCsTM”) in the antibody generation process. It has been spun out of ImmunoBiology Ltd, which is continuing development of prophylactic HspC vaccines into clinical trials.

ViraBiotech has been established to commercialise an exciting new universal anti-viral flu treatment. ViraBiotech was established in 2006, to commercialise defective interfering virus technology developed by Professor Nigel Dimmock from the University of Warwick.

This is a ground breaking approach to the treatment of influenza.  Its first product FluPro is a novel biologic prophylactic combining the benefits of both vaccines and antivirals. It is universal and has a broad window of activity which should also allow it to be a treatment for future pandemic outbreaks. Its mechanism of action is unique and will complement existing drugs for the treatment of flu. Based on current knowledge it will need to be taken a number of times during the season.  However it will be active against all sub-types of influenza and is effective immediately.  It will be delivered intranasally, and hence can be self-administered.

The company and technology are based on 40 years of research by Professor Dimmock a world class virologist. A patent has been filed and the company is supported with seed-corn investment from Aitua and Spinner Matched Investment Funds (SMIF) in August 2007. This money has been used to undertake key experiments, attract a high quality management team, consult with large Pharma, apply for public sector funding and develop a robust plan describing activities and milestones for the next 3-5 years.  ViraBiotech is now seeking investment of £1.5 - £2 million to take its first product, FluPro through to safety trials in humans.