Elasmogen will use this funding to advance the development of their next generation biologics, which is used for site-specific delivery and treatments of diseases refractory to existing drug therapies. This will take the total investment by Deepbridge into Elasmogen to £3 million.
Carlone Barelle, Elasmogen CEO commented:
"We are delighted that Deepbridge has continued to support our future development. Our pre-clinical data sets are becoming more and more compelling. This data is turning our original hypotheses about the unique selling points of our soloMERs into scientific reality. In fact, we now have results that show our drugs, at least in the laboratory, are 10x more potent than existing therapies."
Savvas Neophytou, Partner, Head of Life Sciences at Deepbridge Capital, commented:
“Having supported Elasmogen from seed-stage, we are delighted to continue working in partnership with the exceptional team at Elasmogen. Elasmogen typifies the type of growth-focused early-stage innovation that the Enterprise Investment Scheme was designed to support.”
To read the full press release, click here.
Elasmogen Ltd is a biologics company that was spun out of the University of Aberdeen and has developed a proprietary ‘soloMER’ platform. Specifically, the Company’s technology comprises a platform exploiting the power of biologics as drugs in small, simple and stable formats (‘soloMERs’). They are small (i.e. 9% of the size of a human antibody) and highly stable proteins, making them ideal for both site-specific delivery and the penetration of solid cancerous tumours.