UK - Imperial Innovations backs £11m Circassia funding
Imperial Innovations Group Plc has made a follow-on investment of £1.75m as part of an oversubscribed £11m second round of funding for biotechnology company Circassia Holdings Ltd, taking its stake in the business to 13%. New investors Goldman Sachs and Invesco Perpetual, and existing investors Lansdowne Partners also participated.
Circassia has developed a novel approach to the treatment of allergies, using proprietary technology to administer sections of the molecules that cause allergic reactions, T cell epitopes, in order to desensitise patients. This method potentially offers much greater efficiency in the treatment of allergies, whilst also minimising the potential adverse reactions of current treatments.
The new capital will be used to accelerate the development of cat, ragweed, house dust mite and grass allergy vaccines to treat allergic rhinitis, as well as funding the acquisition of additional technologies.
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