SEP’s Synergy Fund invests Glasgow University spinout

Glasgow University has announced the launch of the new biotechnology company Grannus BioSciences, which has received seed funding from investors including Scottish Equity Partners’ Synergy Fund. The Fund is managed by SEP on behalf of the universities of Strathclye and Glasgow. The biotech will concentrate on developing a new generation of treatments for psoriasis and other inflammatory diseases, including rheumatoid arthritis and emphysema. Grannus, which is named after the Celtic god of healing, will operate in incubator space at Glasgow University and will test its lead product Granase©in clinical trials for psoriasis within one to two years. According to Rob Moffat, of SEP’s Healthcare & Life Sciences Group: “Assuming the trials are successful, the product has enormous business potential – the size of the market for psoriasis treatments is currently estimated to be over $600m, while the market for treatments for arthritis and respiratory conditions runs into billions of dollarsâ€. Synergy is a University Challenge Fund, and is invested in by the Office of Science & Technology and the universities of Strathclyde and Glasgow. The investment in Grannus BioSciences is the eighteenth made by the fund since its launch in 2000.

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