A world-leading Centre for research into novel cancer cures at the University of Leeds is to market its unique products and services, following a £250,000 investment from the White Rose Technology Seedcorn Fund (WRTSF), the venture capital fund owned by the Universities of Leeds, Sheffield and York.
Photopharmica Ltd has been spun out from the Leeds Centre for Photobiology and Photodynamic Therapy - the largest such Centre in Europe - to research and develop new drugs for use with patients suffering from certain forms of cancer and other diseases.
Photodynamic therapy (PDT) uses photosensitisers, molecules that harness the energy from light and produce particles to kill unwanted tissues and other organisms.
Patients are given an injection of a specially-designed drug which spreads throughout the body, but concentrates in cancerous or infected tissue. Without light, the drug is harmless, but when laser light is applied it becomes activated and kills the targeted cells.
This selectivity is of major benefit to cancer patients since the treatment is used only in the affected area, rather than the 'full body' treatment of chemotherapy, which can have distressing side effects.
PDT itself is not without its own side effects, and can make patient's skin hyper-sensitive to light, but Photopharmica is already developing products that have shown early signs of being more effective than the PDT drugs on the market and with potentially fewer side effects. Moreover, unlike chemotherapy and radiotherapy, there is no restriction on the number of treatments a patient can have.
Photopharmica will draw on the resources and staff at the pioneering Centre, which has 40 scientists and clinicians, and has a world leading reputation in developing special new photodynamic drugs for the prevention, detection and treatment of diseases and infections.
More than 500 patients with certain types of advanced lung cancer, oesophageal cancer, skin cancer or brain tumours have already benefited from the technique in trials conducted by the Centre using drugs already available on the market, but the new company is in a unique position to be able to research and develop their own photosensitisers for different applications. These products and services stem from more than ten years of research and £millions in funding, particularly from Yorkshire Cancer Research (YCR).
Photodynamic technology is not only used for targeting disease within the body - it can also be used to sterilise medical equipment, such as intravenous lines and catheters, which can be a source of potentially life-threatening infection. PDT can also be used to treat microbial infections and can even kill antibiotic resistant bacteria such as the 'superbug' MRSA.
The WRTSF investment has enabled the recruitment of further highly qualified additions to the management team. John Lyon has joined the company as chief executive. Formerly managing director of a leading clinic and global vice-president of a major pharmaceutical development company, Mr Lyon will spearhead the negotiations for second round funding, which is expected to be achieved in the near-term.
Dr Nicola Broughton has been seconded to the company as business development manager to forge links with industrial contacts and assist with the protection of the company's intellectual property portfolio.
Professor Stanley Brown, Director of the research Centre and now Chief Scientific Officer of Photopharmica said: "The current worldwide trend is moving towards prevention, early screening and early treatment of cancer and photodynamic technology is particularly well suited to these applications. Photopharmica's initial focus will be to develop therapeutic drugs for treatment of pre-cancer and early cancer, treatment of infections, and sterilisation.
Gerry White, Investment Manager at the WRTSF said: "Photopharmica represents a wonderful opportunity for the Yorkshire region to continue to contribute to the fight against cancer."
The WRTSF plays a crucial role in assisting technologies in the Universities of Leeds Sheffield and York to be commercialised by providing early stage or 'seed' funding. The investment in Photopharmica is the Seedcorn Fund's sixteenth to date and brings the total investments to more than £3 million since 1999.
Further information from:
Mr John Lyon, Photopharmica, tel: 07736 731688 (mob)
Professor Stan Brown, Photopharmica, tel: 0113 343 3166
Gerry White or Susan Brewster, WRTSF, tel 0113 242 2644
Notes for Editors:
1. The WRTSF was created in 1999 with an award of £4.5 million through the DTI's University Challenge competition (the largest award made). Further investment from the member universities and from Regional Development Agency Yorkshire Forward has boosted the Fund to £9 million.
2. Yorkshire Cancer Research is the largest regional medical research charity in the UK and the 4th largest cancer research charity in the UK (figures from Association of Medical Research Charities. All figures are returned by the charities involved and represent spending on UK medical research). YCR raises money and funds research in Yorkshire only. The objective of the Charity is to promote research in Yorkshire into the cause and cure of cancer, which today accounts for 1 in 4 deaths in this country. This programme of research is part of the international fight against this dreadful disease
|
25 November 2002 |