New round complete
ProFactor Pharma raises £2m to fund haemophilia trials
John McNicol, Jaymin Amin and Ian Fotheringham
ProFactor Pharma, a Scottish biotech business, has secured £2 million to advance its treatment of haemophlia.
The funding, led by the investment syndicate Kelvin Capital, supported by Ingenza and the Scottish Investment Bank, will allow the company to enter clinical trials.
PFP, based at the Roslin Innovation Centre near Edinburgh, has successfully run a testing process at scale at a European contract manufacturing organisation. It is now ready to optimise the production process.
The Kelvin Capital syndicate, led by directors John McNicol and Angus Hay, represents private investors in the UK, Europe and the USA. It initially invested in 2013 and has since led five rounds of follow-on funding.
Kelvin founder and director John McNicol said: “ProFactor Pharma is set to disrupt a market with lower cost and higher quality treatments for 400,000 sufferers of Haemophilia A across the world.
“Current manufacturers only supply 30% of the market with a higher cost treatment so the opportunity for PFP is really significant and runs into billions of dollars. The disease affects one in 5,000 male births which also means that the number of patients requiring treatment is growing annually.”
Ingenza MD Ian Fotheringham added: “ProFactor Pharma’s continued advancement illustrates the enormous global impact possible from strategic SME partnerships within the Scottish and UK biotech communities.”
Jaymin Amin from PFP said: “We are in an extremely strong position to lead in the massively undersupplied markets of Eastern Europe, Middle East and Asia.”