London UK, 4th November 2014: Vasgen Limited (“Vasgen” or “the Company”), a new speciality biotech company, reports that it has been awarded Biomedical Catalyst Feasibility funding by Innovate UK (formerly the Technology Strategy Board) in collaboration with the UCL Institute of Ophthalmology. The funding will be used to investigate the feasibility of a new anti-angiogenesis therapy for the treatment of eye diseases such as “wet” age-related macular degeneration, the leading cause of blindness in the developed world.
Dr Salman Rahman, CEO and co-founder of Vasgen said: “We are very pleased to have been awarded Biomedical Catalyst funding and are excited to be collaborating with the world-renowned UCL Institute of Ophthalmology on this important project for our company. We believe this funding will catalyse the development of a potential novel therapy aiming to improve the vision of patients with debilitating ocular neovascular diseases.”
Professor Phil Luthert, Director of the UCL Institute of Ophthalmology commented “The Institute of Ophthalmology is at the forefront of ocular biomedical research. Translating new research into innovative therapies is an important part of our mission. We are pleased to be collaborating with Vasgen in the development of an exciting antibody technology that targets previously intractable molecules. We join Vasgen in looking forward to new therapeutic options for patients.”
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Notes to Editors:
Vasgen Ltd
Vasgen Limited is a new London-based biotech company developing innovative ocular and cancer therapeutics to meet unmet clinical needs.
The Company’s technologies include AbIMP®, a novel antibody-based approach allowing development of highly selective inhibitors of metzincin metalloproteinases with a particular focus on the ADAMs gene family of sheddases. The Company’s lead product under development is a pre-clinical stage therapeutic AbIMP targeting ADAM15 for anti-angiogenesis therapy. More information is available at www.vasgen.co.uk
For further information please contact:
Tel : +44 (0)207 691 2149
UCL Institute of Ophthalmology
The UCL Institute of Ophthalmology operates to the highest standards of excellence in ophthalmic treatment, teaching and research. In the last RAE, 70% of all academic staff of the Institute’s unit of assessment (UoA4) were rated 4* or 3*. The Institute is also the recipient of a Queen’s Anniversary Award. Together with Moorfields Eye Hospital, the Institute is the world’s leader in the sight-saving path from fundamental science to translational applications and clinical trials. More information is available at www.ucl.ac.uk/ioo/index.php
Innovate UK
Innovate UK, formerly the Technology Strategy Board, is the UK’s innovation agency. It’s goal is to accelerate economic growth by stimulating and supporting business-led innovation. More information is available at www.innovateuk.org