VirionHealth Raises Series A Funding from Abingworth
VirionHealth Ltd, a new biotechnology company developing novel therapeutics for respiratory viral infections, today announced that it has raised up to £13 million in Series A funding from Abingworth, the international investment group dedicated to Life Sciences.
VirionHealth, founded on pioneering research by Professors Nigel Dimmock and Andrew Easton at the University of Warwick’s School of Life Sciences, is a world leader in the development of precisely engineered, non-infectious, defective interfering particles. This new class of biological antiviral acts by outcompeting replication of infectious viruses to both prevent and treat viral infections.
VirionHealth is exploiting this technology to develop the first broad-spectrum therapy, potentially simplifying and accelerating treatment by removing the need for differential diagnosis. Initially focusing on influenza and respiratory syncytial virus (RSV), the technology combats a range of viruses with a single therapeutic agent. In addition, the technology is far less susceptible to resistance than other approaches due to its unique viral out-competition abilities and innate immune system stimulation.
Jeffrey Almond, formerly Vice President of Discovery Research and External Research and Development at Sanofi Pasteur, joins the company as Chairman of the Board, which also includes Nicola Thompson, whose previous roles include Vice President and Head of External Drug Discovery at F. Hoffmann-La Roche Ltd, who joins as CEO; Laura Lane, COO; Peter Goodfellow, formerly Senior Vice President for Discovery Research at GlaxoSmithKline and an Advisor to Abingworth; John Shields, formerly Senior Vice President, Research, at Cantab Pharmaceuticals and an Advisor to Abingworth; and Tim Haines, Managing Partner of Abingworth.
“We are delighted to receive this support and will use the funds to advance our novel programmes into the clinic,” said Jeffrey Almond, Chairman of VirionHealth. “Upper respiratory tract infections remain an important unmet need which includes an estimated 1 billion cases of influenza across the globe each year.”
“We believe that VirionHealth’s novel technology has the potential to have a significant impact on the treatment and prevention of infectious diseases,” said Abingworth’s Tim Haines. “We look forward to working with the team to translate its research into important new medicines.”
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
Something is happening in the life science industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.
Last viewed contents
Analytik Jena Announces Sales and Earnings Forecast for the 2010/2011 Financial Year
Xention Reports Positive Phase 1 Data for New Atrial Fibrillation Drug
SciClone and Sigma-Tau Report Thymalfasin Meets Primary Endpoint in Phase 2 Malignant Melanoma Trial
BCY LifeSciences Inc. Signs Licencing Agreement
BBCH-scale_(maize)
BBCH-scale_(faba_bean)
Pitt researchers find candidates for new HIV drugs
Runge GmbH & Co - Osnabrück, Germany
CHEPLAPHARM - Greifswald, Germany
Polo Filter-Technik Bremen GmbH - Achim, Germany
