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Celtic Pharma Holdings commits funding to Cantab Biopharmaceuticals to drive the development of improved biological medicines

Jim Mills appointed as Cantab CEO

27 Jan 2010 - Celtic Pharma Holdings Advisors LLP announced it has made significant funding available to Cantab Biopharmaceuticals Limited for the development of improved biological medicines or ‘biosuperiors’, via the fund Celtic Pharma Holdings II LP ("CP2”).
 
Cantab is a Cambridge, UK-based biopharmaceutical company wholly owned by CP2 that is focused on developing ‘bio-superiors’ – next-generation biologics designed to offer superior therapeutic efficacy and convenience over originator products. Initially Cantab will use the new funding to target specific ‘bio-superior’ opportunities in the area of haematology through its own resources and through agreements to access innovative technology platforms from third parties. The company will aim to progress these candidates to Phase I or Phase II at which point partners will be sought to develop the programmes further. The initial funding commitment being made by CP2 is approximately £5 million over 3 years and is designed to allow Cantab to take its first biosuperior product into clinical trials. In the longer term, Cantab aims to build a pipeline of ‘bio-superior’ candidates in other therapeutic areas, including infectious disease.
 
In addition, Cantab has appointed Dr. Jim Mills, formerly Director of Operations at Cambridge Biomanufacturing Limited, as Chief Executive Officer. Dr Stephen Parker will become non-executive Chairman of the company and John Mayo and Dr Bill Henry will become non-executive Directors following this investment. All three non-executive Directors are partners of CPHA.