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Stevenage UK, 13th August 2013: Arachos Pharma Ltd is a new pharmaceutical company developing novel oral anti-inflammatory medicines. It has been awarded a £1.2 million Biomedical Catalyst grant from the UK’s innovation agency, the Technology Strategy Board, to pursue further development of the candidate medicine AP362 for the treatment of a range of inflammatory diseases.
AP362 is an innovative oral selective glucocorticoid receptor modulator, with initial data indicating that it will have powerful anti-inflammatory action with significantly fewer side-effects than conventional therapies. It has the potential for once-daily dosing in a wide variety of diseases such as severe eczema, rheumatoid arthritis and asthma. The Biomedical Catalyst funding will enable Arachos Pharma to carry out preclinical work such as bulk synthesis, formulation, stability testing and characterisation of drug product, as well as safety studies. The company will also further characterise the biological profile of AP362 to assess its potential in additional disease areas.
Arachos Pharma is in discussion with several potential investors, in order to leverage the Biomedical Catalyst funding to enable it to progress candidates through to early clinical proof-of-concept studies.
Richard Knowles, CEO of Arachos, said: “Arachos Pharma is delighted to have received this funding from the Biomedical Catalyst Fund, which brings significant validation and will enable us to demonstrate the potential of this exciting new candidate medicine. Arachos has established itself as a start-up pharmaceutical company at the Stevenage Bioscience Catalyst, benefiting from the innovative environment and expertise there. We believe that AP362 could provide a new safe, oral, once-a-day therapy for a range of inflammatory diseases, a market likely to have sales of £56bn by 2017*.”
Contact
Prof Richard Knowles, CEO
+44 (0)1438 906971
Arachos Pharma Ltd
r.knowles@arachos-pharma.com
About Arachos Pharma Ltd
Arachos Pharma is an independent start-up pharmaceutical company specialising in the discovery and development of innovative oral anti-inflammatory medicines. It is based at Stevenage Bioscience Catalyst, in Stevenage, U.K. The management team consists of highly experienced pharmaceutical scientists with particular expertise and track record in the discovery and development of anti-inflammatory medicines. It has access to scientific, drug development and clinical expertise via advisors, via the SBC Open Innovation platform, and through CROs and academic experts. For more information, please visit http://www.arachos-pharma.com
About the Technology Strategy Board
The Technology Strategy Board is the UK’s innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org
About the Biomedical Catalyst
The Biomedical Catalyst, announced by Prime Minister David Cameron in December 2011, is a programme of public funding designed to deliver growth to the UK life sciences sector. Delivered jointly by the Medical Research Council and the Technology Strategy Board, the Biomedical Catalyst provides responsive and effective support for the best life science opportunities arising in the UK. The programme is open to UK academics and SMEs and seeks to support those opportunities which demonstrate the highest scientific and commercial potential, irrespective of medical area. For further information please visit: www.innovateuk.org/content/competition/biomedical-catalyst.ashx.
About Stevenage Bioscience Catalyst
Stevenage Bioscience Catalyst is the UK’s first open innovation bioscience campus, pioneering a unique culture to drive early stage bioscience technology and company development, and building a thriving community. Consisting of an Incubator, an Accelerator and a Hub, covering 60,000 sq ft of laboratory, office and networking space, the independent facility houses a range of companies, from virtual and start-up firms to those which are more established, as well as other organisations. Located on the GlaxoSmithKline Stevenage site, Stevenage Bioscience Catalyst is in the unique position of operating in proximity to the expertise and resources of a major pharmaceutical company, close to both London and Cambridge. For more information, please go to www.stevenagecatalyst.com.
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