£2m for Elasmogen’s shark-inspired drugs treatments
Caroline Barelle: ‘scientific reality’
Drugs development company Elasmogen has secured £2 million for its work on proteins found in sharks to develop treatments for diseases such as rheumatoid arthritis and cancer.
It has raised the follow-on equity investment from Deepbridge Capital taking total investment in the company to £3.15m.
Elasmogen is currently progressing a pipeline of novel drugs as well as enjoying a growing number of successful commercial partnerships to develop products for the treatment of aggressive and life-shortening diseases.
CEO Caroline Barelle said: “Our pre-clinical data sets are becoming more and more compelling. This data is turning our original hypotheses 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.”
Dr Savvas Neophytou, partner and head of life sciences at Deepbridge Capital, said: “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.”