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 reveals "significant" new drug development licence
Fusion IP (LON:FIP) announced a 'significant' new drug development licence, which is expected to achieve peak royalties for the company of £1 million per year.
The firm, which commercialises university-generated intellectual property (IP), told investors today that it had signed a license deal with a pharmaceutical company using IP from the University of Sheffield to develop the known drug.
The drug is for use in certain endocrine gland diseases - a market worth in excess of $500 million per year, said the firm.
It is already being marketed for a different treatment and the probability of a successful launch is considered to be high, it added.
Fusion's chief executive David Baynes said this was "more excellent news" for the firm.
"At peak sales the revenue generated from this single agreement will cover most of Fusion's net annual overheads and is a great example of the tremendous value within our pipeline agreements with Sheffield and Cardiff."
The details of the license deal were not disclosed for commercial reasons.
The agreement is based on royalties and features limited milestone payments.
The drug is currently at the efficacy stage and is expected to make its first sales in 2015/16, with royalties to Fusion expected to peak at £1 million per annum.
