Scottish Biotech company Ryboquin has acquired Nanogenic Solutions, to form a new product and platform company, which, following acquisition will be named Nanogenics Limited.
Ryboquin raised GBP4.45 million in its third funding round from new and existing share-holders to finance the deal.
The combined company is set to revolutionise gene therapy by pioneering the safe, efficacious and regular dosing of all forms of gene therapy. Currently viruses and liposomes are used in this process, which have limited applications, severe side-effects and expensive technical problems. Nanogenics is developing LipTide, an artificial virus, which acts as a custom-built delivery system that can be modified to target different cell types and deliver different payloads, making the promise of gene therapy one step closer to reality. LipTide is a protein based nanoparticle, which mimics natural viruses, but by-passes the many problems of viral delivery. The ability to regularly dose gene therapy payloads with LipTide could revolutionise the approach to gene therapy.
Dr Alan Walker, Chief Executive Officer, Nanogenics, says: “I am thrilled we have been able to combine these two businesses. It will offer real hope to those millions of patients living with diseases who have been unable to benefit from the advances in gene therapy because, until now, it has been so difficult to safely deliver the correct gene therapy to the right target. That can now change and we are already working with six major BioTech companies who want to access this exciting delivery mechanism.”
In addition to working with partners to deliver their gene therapy programmes, Nanogenics is developing its own product pipeline taking advantage of the revolutionary LipTide delivery platform. The lead programme, LipTide-ECP102, on which Nanogenics has US and EU patents, dramatically enhances chemotherapy and radiotherapy. A clinical trial is planned at the Christie Hospital Manchester in 2020. Currently LipTide-ECP102 is being scaled up to an industrial batch in collaboration with Strathclyde University.
Paul Murray, Executive Chairman, of the enlarged company, says: “We have worked hard and convinced investors of the huge potential of LipTide and we plan to grow the company quickly to a stage where we can take it public as soon as that is feasible. This is a great opportunity to generate real value by offsetting the high risk high return of product development with the amazing potential for multiple licence deals for the revolutionary LipTide platform. It is very rewarding to be involved in the cutting edge of medical science.”