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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's Diurnal achieves major milestone
Diurnal, the drug developer 43 per cent owned by stock market listed Fusion IP (LON:FIP), has achieved a significant milestone in the progression of Chronocort, a replacement cortisol.
Clinical trials have been successfully concluded on healthy volunteers. It will allow the group to identify the formulation that most closely resembles the body’s production of the hormone.
Chronocort is being designed to help patients suffering reduced levels of cortisol in a manner that mimics the body’s 24-hour hormone cycle, known as the circadian rhythm.
Diurnal hopes to move into phase II trials this year, and plans to complete them by the middle of 2013.
Peter Grant, operations director for Fusion IP, said: "We are very pleased with this clinical result. A major challenge for the Chronocort concept was to show that it could mimic the natural levels of the hormone it needs to replace in humans.
“The formulation of choice needs to be further tested but a major development objective has been achieved with a concomitant increase in the value of the Chronocort offering.
“The company has the funds to complete its phase I and II trials and although it is hard to estimate what the value will be at the end of phase II, it is notable there has been acquisition activity involving a similar drug in a comparable indication which attracted high value."
