BioMoti is among the first SME recipients of the new £180 million Technology Strategy Board (TSB) Biomedical Catalyst funding programme. The scheme was set-up by the UK government earlier this year to provide responsive and effective support for the best life science opportunities arising in the UK. BioMoti will use this first TSB award to attract private risk capital and launch the commercial development of it’s promising Oncojan™ based lead ovarian cancer candidate. This award follows successful proof-of-concept studies within the associated academic laboratories of Professor Joanne Martin and Professor Iain McNeish at Queen Mary, University of London as well as very strong technology validation by a major global pharmaceutical company.
Commenting on the awards, Minister for Universities and Science David Willetts said: ‘The UK’s world leading life sciences industry is changing fast and we need to stay ahead of the game. The Biomedical Catalyst will help bridge the so-called ‘valley of death’ that exists between when a bright new idea is developed in the laboratory and the point when a new drug or technology can be invested in by the market. This will support our most innovative life sciences SMEs and academics, drive growth and benefit patients.’
For further information on the first awards made through the Biomedical Catalyst, please click here
For further information, please contact:
Dr Davidson Ateh CEO
+44 78 9979 6655
Notes to editors:
BioMoti seeks to transform the treatment of cancer by targeted delivery of therapeutics to the intracellular space of cancer cells; aiming to dramatically increase efficacy whilst reducing side effects. Oncojan™ is a revolutionary cancer therapeutic delivery platform initially developed at Queen Mary, University of London. The platform is compatible with a range of drug classes from small molecules to larger biologicals. MOTI1001 is BioMoti’s lead oncojan™ based ovarian cancer candidate that has shown very promising potential in early preclinical studies.