Elasmogen Ltd is a biologics company spun out of the University of Aberdeen in Feb 2016 and has developed a validated and IP-protected ‘soloMER’ platform. ‘soloMer’ refers to employ of small proteins as a site-specific drug delivery mechanism for ophthalmology and solid tumour cancers.
Specifically, the Company’s technology is a unique single-domain (‘soloMER™’) platform exploiting the power of biologics as drugs in small, simple and stable formats. SoloMERs are small (9% of the size of a human antibody), highly stable proteins, making them ideal for both site-specific delivery and penetration of solid cancerous tumours. The proteins are fully humanised versions of high-affinity natural binding domains (termed ‘VNARs’) found in sharks.
The Company has a pipeline of products in pre-clinical development for the treatment of auto-immune mediated inflammatory disease.
At <10% of the size of antibodies, soloMERs create the opportunity for:
• site-specific dosing (non-invasive);
• flexible formatting (bi or tri-functional products) to increase clinical efficacy; and
• reduction in manufacturing costs (reduced CoGs).
The team behind Elasmogen previously span out ‘Haptogen’ from the University of Aberdeen and sold it to Wyeth for tens of millions of dollars.
The anti-inflammatory therapeutics market is expected to reach $106.1bn by 2020, growing at a compound annual growth rate of 5.9% from 2015 to 2020. The ophthalmological disorders market, which is set to almost double from $13.7 billion in 2015 to $26 billion by 2022 at a compound annual growth rate of 9.48%, will see the entry of a range of new companies over the forecast period as the treatment space is transformed by patent expiries and new product entrants). The market for Uveitis treatment by corticosteroids is estimated to be worth $1.65bn by 2016 (Inflamalps), with TechNavio's analysts (“Global Uveitis Market, 2014-2018”, published March 2014) forecasting that the global Uveitis market will grow at a CAGR of 26.5% over the period 2013-2018.
Early market analysis by the Company suggests that by placing a conservative value of £25,000 per episode as a target price (guided by costs of eye biologic therapies & Key Opinion Leaders in the healthcare industry) making the global market for corticosteroid-resistant uveitis worth c. £3bn.