Therakind Investment Update
15th June 2007
Ipso Ventures plc ("Ipso"), the IP commercialisation specialist, announces that its wholly owned subsidiary, Ipso Management Limited ("Ipso Management"), has agreed to make a further investment of ú300,000 in Therakind Limited ("Therakind" or the "Company"), a paediatric drug development business, which was spun-out from The School of Pharmacy, University of London in October 2006.
Therakind was established to capitalise on the paediatric drug development expertise of Ian Wong BSc, MSc, PhD, MRPharmS, ILTM(HE), Professor of Paediatric Medicines Research at The School of Pharmacy, and in response to new European legislation on Paediatric Medicines. This legislation was implemented to improve the health of children by increasing the amount of high quality, ethical research into medicines and increase availability of authorised medicinal products for children.
Nick Rodgers, Chief Executive of Ipso, said: "Relatively few licensed medications are clinically evaluated in children and many children are unable to take adult drug formulations, such as tablets or capsules. Differences in the way that children absorb, metabolise and excrete drugs may cause them to suffer different adverse effects. Research suggests that children may also be at higher risk of medication administration errors. The European Commission has stated that 50 to 90 per cent of all medicinal products used in the paediatric population, have never been studied or authorised for use on children.
"The demand for properly formulated medicines for use on children is significant and I am delighted that Therakind has been established to help fulfil this need. Therakind has made rapid strides with its first product intra-nasal diamorphine, developed for use in paediatric pain control. It is envisaged that two relatively small clinical studies will be required prior to submission for regulatory approval."
Further products are currently being reviewed with a view to some or all being taken forward to become approved products for paediatric use."
Ipso Management invested an initial ú120,000 in October 2006 and, following this latest investment, will hold 50 per cent of the shares of Therakind.