PARTNERSHIPS UK INVESTS IN WOUND-CARE COMPANY
28/09/2005
The Financial Secretary to the Treasury, John Healey MP, has visited a biotechnology spin-out company from Sheffield University, CellTran, that is developing a revolutionary new product through tissue engineering the patients’ own cells to treat chronic wounds such as diabetic foot ulcers and those caused by burns.
The development programme is supported by Partnerships UK, a Treasury public private partnership which has invested £750k in CellTran Ltd, a wound-care company that is part of the Biofusion portfolio.
John Healey said:
“The Government is committed to the development of the UK’s science and technology and this tissue engineering product demonstrates the UK’s excellence in biotechnology and scientific research. There is a real need for novel products for the wound care market where patients can be incapacitated for extended periods of time and wound care is associated with high costs to the health sector.
“Biofusion and CellTran are both great examples of how universities can harness their research to promote enterprise and develop skills which in turn encourage regional growth.”
James Stewart, Chief Executive of Partnerships UK said:
“Partnerships UK is building a reputation for supporting technological advances and innovative new research across the public sector’s science and technology portfolio.
“ Financial support for CellTtran will allow the company to scale up their activities and run expanded clinical trials to be undertaken into the repair of chronic wounds through propagating the patient’s own cells. The aim is to increase market penetration of the product.
“We are confident that the investment will generate improved patient treatment and quality of life and also have the effect of reducing costs to the health sector.”
CellTran is currently conducting a number of clinical trials in different centres around its lead product Myskin TM which has already gained regulatory approval and is being marketed in the UK.
CellTran has a unique product that has developed with the support of White Rose Technology Seedcorn Fund and Biofusion, from initial research at Sheffield University to the company it is today.
NOTES TO EDITORS
1. Partnerships UK is the successor body to the Treasury Taskforce (TTF). Partnerships UK was established in June 2000 as a central support body with 51% private sector and 49% public sector investment (44.6% HM Treasury and 5.4% Scottish Executive).
PUK is a public private partnership and combines private sector expertise with a strong public sector mission, placing it in a pivotal position to bridge the relationships between the public and private sectors. As part of its business activities, PUK makes strategic investments in corporate ventures to support the public sector’s drive to bring about developments in R & D.
2. Other contributors to the £2.7 million funding round for CellTran include YFM Group, a new investor and existing investors Biofusion and White Rose Technology Seedcorn Fund.
3. Celltran is part of the Biofusion portfolio. The University of Sheffield owns 49.3% of Biofusion.
4. Biofusion was established in 2002 to commercialise university-generated IP. The company has agreed a ten-year exclusive arrangement with the University of Sheffield for the commercialisation of IP owned by the University in the area of medical life sciences.
The agreement also gives Biofusion shareholdings in an existing portfolio of spin out companies including Axordia, CellTran and Simcyp. The University of Sheffield, a world class life sciences research centre, spent £30m in 2002/03 on research in medical life sciences.
This spending level is expected to grow year on year giving an estimated £0.5bn of research funding over the next ten years. The University which celebrates its centenary this year, can count five Nobel Prize winners among its alumni and researchers, and data from the latest UK Government’s Research Assessment Exercise 2001 (“RAE 2001”) showed it ranked fifth in the UK for the quality of its life sciences research.
5. The White Rose Technology Seedcorn Funds is the venture capital fund owned by the Universities of Leeds, Sheffield and York. It was created in 1999 with £4.5m from the Department of Trade and Industry’s University Challenge competition and now stands at £9m following further investment from member universities and Regional Development Agency, Yorkshire Forward.
The Fund is managed by Aberdeen Murray Johnstone Private Equity. Further information about the Fund can be found at www.whiteroseseedcorn.com
6. Previous Partnerships UK joint venture investments include:
i) Acolyte Biomedica: Rapid diagnostic systems for clinical microbiology revolutionising laboratory practices cutting the time it takes to test for serious blood infections from 3-4 days down to 2-4 hours. Spin-out from Defence Science and Technology Labs.
ii) eTourism: Leisure business managing the official web portal and bookings and information centre for Scottish National Tourist Board, providing a broad range of services to visitors.
iii) The Recycling Fund: Develops sustainable and efficient markets for SMEs for re-cycled materials and products.
iv) Smart Holograms: Sensor Holograms for various clinical, security and industrial applications. Cambridge University Spin-out.
v) Enigma Diagnostics: Rapid, in-field nucleic acid testing technology for clinical, veterinary and security applications. Spin-out from Defence and Science Technology Labs.
vi) Imperial Innovations. Technology transfer services to Imperial college and other institutions and investment spin-outs.
vii) Zoobiotic Ltd: Maggot therapy business producing and supplying clinical grade maggots to derived products for use in wound debridement. Spin-out from Bro Morgannwg NHS Trust.
viii) CellTran Ltd: Wound healing and skin regeneration products using live cells on plasma polymerised bandages. Spin-out from Sheffield University.
7. Press Enquiries
To Malcolm Graves on behalf of Partnerships UK Malcolm.graves@hm-treasury.gsi.gov.uk (Tel. 020 7270 5161 / 07785 316773).
To Chris.gardner@citigatedr.co.uk (tel. 020 7638 9571) on behalf of Biofusion.
To ML Jarmolowicz on behalf of CellTran Ltd Mal@celltran.co.uk (tel. 0114 222 0983).
To David Livesley on behalf of YFM Group David.livesley@yfmgroup.co.uk (tel. 0113 294 5000).
To Jo Kelly on behalf of White Rose Technology Seedcorn Fund Jokelly@campuspr.co.uk (Tel. 0113 258 9880).
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