|
| Funds to Drive Development of Novel Interferon Hepatitis Therapy
LONDON, Sept. 12 /CNW/ - RioTech Pharmaceuticals Limited (RioTech Pharma)
today announced that it has successfully raised GBP750,000 (over $1.3 million)
in a private financing round. The funds will drive the preclinical development
of the Company's lead product, a novel interferon alpha-8 (IFN-alpha-8)
chronic hepatitis C (CHC) therapy.
In antiviral assays, IFN-alpha-8 is over 1000-fold more potent than
IFN-alpha-2 (an established CHC therapy). RioTech Pharma has perfected a
commercially compatible system to produce recombinant IFN-alpha-8, and is now
well financed to progress this product through the next phase of development.
The funds will also advance a programme centred on the Company's small
molecule target - an enzyme implicated in regulating the potency of the
antiviral effect of IFNs.
Commenting on the financing round, Dr Mark Thursz, RioTech Pharma's CSO
and Founder, said, 'We are delighted to have achieved our funding target in
this private financing round. The funds will allow us to deliver on the
preclinical objectives for our lead interferon product, and strengthen our
position as we continue our discussions to secure partnership and licensing
agreements for our hepatitis therapeutic products.'
The current standard of care for hepatitis C is the combination of
pegylated interferons with ribavirin. However, this combination is ineffective
in approximately 50% of patients and treatment is prolonged and associated
with severe side effects, leading to poor patient compliance. Consequently,
there is a clear clinical need for the development of novel IFNs with improved
pharmacokinetics, enhanced efficacy and a lower rate of side effects.
About 80% of patients newly infected with hepatitis C virus progress to
chronic infection. The World Health Organisation estimates that globally
170 million people, 3% of the world's population, are chronically infected
with hepatitis C virus. Of those persons chronically infected, about 10-20%
will progress to cirrhosis, and over a period of 20-30 years 1-5% will develop
liver cancer. Unlike hepatitis B, there is no vaccine currently available to
prevent hepatitis C virus infection.
RioTech Pharmaceuticals Limited
RioTech Pharmaceuticals (RioTech Pharma) is a London, UK, based
biotechnology company developing innovative products in the field of viral
hepatitis.
RioTech Pharma's lead product is an interferon alpha-8 (IFN-alpha-8) in
development for the treatment of chronic hepatitis C (CHC). In antiviral
assays, IFN-alpha-8 is over 1000-fold more potent than IFN-alpha-2 (an
established CHC therapy). The Company's product pipeline also includes a small
molecule target - an enzyme implicated in regulating the potency of the
antiviral effect of IFNs. The Company has developed an assay to screen for
inhibitors of this enzyme, which would produce an enhanced host immune
response against hepatitis C virus infected cells.
The Company is led by a globally experienced management team with
extensive knowledge of the pharmaceutical and biotech industries, and has a
strong patent position around the use of IFN-alpha-8 in the treatment of CHC.
RioTech Pharma was founded in August 2003 by key leaders in the field of
hepatitis, Professors Howard Thomas, Graham Foster, Adrian Hill and
Drs Mark Thursz and Peter Karayiannis, at Imperial college London and Oxford
University. The Company is uniquely positioned to draw from their collective
comprehensive understanding of hepatitis viral pathogenesis and patient immune
system management of chronic viral infection.
For further information: please contact: RioTech Pharmaceuticals
Limited, Dr Mark Thursz, Chief Scientific Officer, Tel: +44-207-594-3851,
Email: m.thursz@riotechpharma.com
The original story can be read at
http://www.newswire.ca/en/releases/...5/12/c8250.html
Alan
http://veloceraptor.blogspot.com/
http://theoriginalfirebird.blogspot.com/
http://lordcerneabbastoo.blogspot.com/
http://www.stopwar.org.uk/
http://www.700women.org/
|
|