www.fusionip.co.uk
Fusion IP owns the rights to 100% of the university-owned research generated at two of the UK's leading universities – The University of Sheffield and Cardiff University. These exclusive partnerships enable us to invest in some the world's most advanced and exciting science, turning world class research into business through the creation of a growing portfolio of companies, in fields as varied as drug discovery, alternative energy and engineering.
Fusion IP spins out cartilage therapy business from Cardiff Uni partnership
Fusion IP (AIM: FIP) has created another new spin-out company from its partnership with Cardiff University. Newly established Progenteq is developing a novel cartilage replacement, using technology developed by Professor Charlie Archer's research group at Cardiff University's School of Biosciences.
Professor Archer leads the Connective Tissue Biology Group, recognised for excellence in tissue engineering and repair research, the company said.
Archer’s group successfully isolated a defined population of cells, with stem-cell-like properties, from the articular cartilage which surround the main bones in the knee joint. According to Progenteq these cells, when derived from donors, can be used to grow a large tissue-bank that is suitable for insertion into patients when needed. This procedure is referred to as "allogeneic" cartilage replacement therapy.
"Cardiff University continues to produce world class IP. Although this is an early stage project, an allogeneic approach has been described as "the holy grail" of cartilage repair”, Fusion IP chief executive David Baynes said, “We believe that Professor Archer's discovery may be the key and as such it has the potential to revolutionise the way we treat acute knee injuries”.
Progenteq believes that this new therapy-model promises a more cost-effective cell therapy than current "autologous" approaches, where a patient’s own cells are removed, expanded and then implanted. Fusion IP and Progenteq will collaborate as they develop and commercialise the novel therapy. “The support from the Technology Strategy Board is proving invaluable in catalysing innovation in regenerative medicine in the UK and we look forward to Progenteq taking its first stages towards the clinic", Baynes commented.
The company also noted that the successful development of a cartilage cell bank could also pave the way for treatment of degenerative cartilage damage, such as that seen in osteoarthritis.
Fusion specialises in university-generated intellectual property. It has long-term exclusive agreements with the University of Sheffield and Cardiff University, giving it access to a combined R&D (research and development) spend of over £185 million a year.
This latest spin-out marks Fusion IP’s second new company of 2010, both of which result from the Cardiff University partnership. In January the company announced a new start-up medical devices company, Asalus Medical Instruments Ltd. Asalus is developing three devices that it believes will improve the safety and efficiency of laparoscopic surgery, or keyhole surgery.
