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Fusion IP nets biotech deal
FUSION IP, the group that turns university research into business, says one of its companies has signed a research deal with a biotech giant.
Asterion, which Sheffield-based Fusion holds a 38 per cent stake in, signed a research and option agreement with Genzyme to develop a type of protein.
The biopharmaceuticals company that is developing therapeutic products signed the deal with on of the world's leading biotechnology companies to develop a long-acting form of a non-cytokine protein.
Under the terms of the agreement, Genzyme will gain access to elements of Asterion's research and work on creating a long-acting and potent version of a protein.
Asterion is also working on therapeutic products which could be used to treat diseases such as anaemia, neutropenia, multiple sclerosis, growth disorders and autoimmune disorders.
Asterion chief executive Dr Raymond Barlow said: "We are pleased to have signed this agreement with Genzyme, which is one of the largest and most experienced global biotechnology firms.
"This deal endorses and demonstrates the interest that corporate partners have shown towards our ProFuse protein engineering approach and the therapeutic proteins that are derived from it.
"This transaction is part of our strategy of securing corporate partnerships on certain protein targets whilst, at the same time, seeking funding for the clinical development of other assets where we believe we can grow value organically."
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Saturday 11 February 2012
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