CANTERBURY, England, November 5, 2012 /PRNewswire/ --
£1.42m Funding Will Drive Development of New Treatment for Atopic Dermatitis
Creabilis SA, a European biotechnology company specialising in the development of treatments in dermatology, inflammation and pain, today announces that it has been granted a prestigious Biomedical Catalyst funding award of £1.42m. Creabilis is one of the first companies to receive this award that will be used to advance the development of its clinical stage topical kinase inhibitor, CT327.
The £180 million Biomedical Catalyst is an integrated translational funding programme jointly operated by the Medical Research Council and the Technology Strategy Board providing responsive and effective support for the best life science opportunities arising in the UK. It was announced by the Prime Minister David Cameron in December 2011 as part of the UK Government's Life Sciences Strategy.
The award will be used by Creabilis in a £2.37m project to further develop CT327, a novel, first-in-class topical kinase inhibitor that is in clinical development to treat a number of dermatological diseases. Specifically, the funding will be used to support a Phase IIb clinical study to further evaluate the safety and efficacy of CT327 in patients with Atopic Dermatitis.
Atopic Dermatitis (AD) is a poorly treated dermatological disorder, often described as an "itch with a rash". The number of people with AD has increased more than threefold in the past 30 years, with over 1 million people affected in the UK alone. It has a significant impact on patients' and carers' quality of life, the disease being particularly prevalent amongst children. Although some older treatments exist, there is a significant need for new therapies that are safe for long-term use and address all features of the disease, including itch.
CT327 has been developed using Creabilis' Low Systemic Exposure (LSE) technology that creates "topical-by-design" drugs optimised for high local and low systemic exposures. Previously, in an international Phase IIa study, CT327 was effective in treating all aspects of AD and has proven safe and well tolerated in a further five clinical studies.
Dr Eliot Forster, CEO of Creabilis, said: "It is satisfying to have won this highly prestigious award and we are grateful to the Technology Strategy Board for their diligence. We firmly believe that CT327 will make a real difference to patients suffering from Atopic Dermatitis. The Biomedical Catalyst funding will enable us to complete this important study bringing CT327 one step closer to all patients suffering from this common and poorly treated disease."
About Creabilis SA
Creabilis is a clinical-stage European biotechnology company creating innovative new drugs to tackle unmet medical needs in dermatology and inflammatory diseases. Bringing together world-class drug development capabilities and a rich scientific heritage, Creabilis is uniquely positioned to transform the treatment of its target diseases.
Creabilis' lead product is CT327, a novel, topically-applied TrkA kinase inhibitor developed using the Company's Low Systemic Exposure (LSE) technology. CT327 is currently in Phase II clinical trials in Psoriasis and a Phase IIb study in Atopic Dermatitis will begin in 2013. CT340 is a potent kinase inhibitor under development for the treatment of conditions in which TrkA, p38, JAK3 kinase inhibition is indicated, including inflammatory arthritis and pain. Earlier-stage projects include a number of highly promising LSE-based candidates for wider indications requiring topical therapy.
Creabilis is backed by some of Europe's most highly respected life sciences investors including Sofinnova Partners, Neomed and Abbott Biotech Ventures, Inc.
For more information, please visit: http://www.creabilis-sa.com
About the Technology Strategy Board
The Technology Strategy Board is the UK's innovation agency. Its goal is to accelerate economic growth by stimulating and supporting business-led innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit http://www.innovateuk.org.
About the Biomedical Catalyst
The Biomedical Catalyst, announced by Prime Minister David Cameron in December 2011, is a programme of public funding designed to deliver growth to the UK life sciences sector. Delivered jointly by the Medical Research Council and the Technology Strategy Board, the Biomedical Catalyst provides responsive and effective support for the best life science opportunities arising in the UK. The programme is open to UK academics and SMEs and seeks to support those opportunities which demonstrate the highest scientific and commercial potential, irrespective of medical area. For further information please visit: http://www.innovateuk.org/content/competition/biomedical-catalyst.ashx
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SOURCE Creabilis SA