A BIOMEDICAL business which aims to extend the life of cystic fibrosis patients has secured £5.75 million in its latest equity funding round.
And the company’s chief executive has declared that if initial trials are successful the drug could draw the attention of major pharmaceutical groups.
Lamellar Biomedical’s last funding round was in 2015, to support the development of Lamellasome, a pharmaceutical used to treat dry eye disease, and the dry mouth common in head and neck cancer treatment.
But while undertaking research into these conditions, the company recognised its application could treat cystic fibrosis and also work in synergy with antibiotics to fight infection.
This discovery led the Bellshill-based business to return to its investors to show what the new intellectual property could do.
The round was led by Invesco Asset Management and supported by the Scottish Investment Bank.
Lamellasome loosens the thick sticky secretions found in mucus and saliva which help prevent bacterial infection.
Cystic fibrosis causes the mucin to become thicker and drier, meaning the body cannot adequately fight infection, ultimately reducing the life expectancy of those with the condition.
The company’s chief executive, Alec McLean, said its Muco-ease product would thin out the mucin, helping to clear the lungs.
“Our hope is that if you start a child [on the medication] very early you can make that mucin less thick and therefore it will move those bacteria and the mucin out of the airways quicker and therefore delay infection for a longer life,” he said.
Current cystic fibrosis treatment is prohibitively expensive, and generally works by breaking down or collecting mucin, whereas Lamellar aims to change its consistency. “It’s a completely different approach to anyone working in this field right now,” said Mr Mclean.
Lamellar will begin an in-patient study in the autumn, now funding is in place.
“That’s a big one for us,” said Mr McLean. “We believe if we can show any degree of efficiency in our product in this first clinical study, we will have major pharma interested and we’d look for a joint development.”
A knock-on benefit of its research was the discovery that the products can also work in synergy with antibiotics to fight infection.
The company also plans to develop its two original applications, Lamelleye and Visco-ease, with Mr McLean noting that the conditions they target are poorly served by current medications and therefore represent areas of high value unmet medical need.
Lamellar aims to licence these when clinical trials are complete, to begin generating revenue.
“That will allow us to take cystic fibrosis treatment further, or develop our antibiotics. We’re very targeted, we’ve targeted an eye and lung anti-biotic, the reason we’ve only targeted two is to show the world what it can do.”
Mr McLean believes revenue will start to come in 2018, adding that there were further products in the wings, and it would be those that the company would grow on.
“They are the ones we’d like to own and develop, but that will take time,” he said.
The business employs ten staff, having grown from just three in 2014. Another five new positions are being created with this latest funding round.
Kerry Sharp, head of the Scottish Investment Bank, said: “Lamellar is a great example of an innovative biotech company using new technology for differentiated product development.”
Scottish Enterprise works with Lamellar through its account management approach as well as the investment from SIB.
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