Angel funding for Lamellar Biomedical’s breakthrough Cystic Fibrosis technology
A Bellshill-based firm, which is planning to pioneer a new treatment for cystic fibrosis and other respiratory diseases, has received a funding boost of nearly £1m from a consortium of investors, instigated by Barwell PLC in partnership with the Borders-based business angel group, Tri-Capital Limited (Tri-Cap).
Lamellar Biomedical has been set up to commercialise the research findings of Dr James Dobbie, who has used electron microscopy to gain an insight into the bodies secretory systems. Dr Dobbie has established that naturally occurring substances known as lamellar bodies are secreted by different tissues throughout the body. These lamellar bodies have been described as the ‘WD40’ of the body. They are found in the lungs and may be involved in respiratory diseases such as cystic fibrosis, a disorder which severely limits life expectancy.
Lamellar Biomedical believes it now has the basis for an effective treatment for such diseases with the development of Lamellasomes® new synthetic substances which mimic the actions of lamellar bodies. The company sees great potential for the delivery of Lamellasomes® by inhalation to patients with respiratory diseases.
To help fund the next stage of development, the company has received new investment of £935,000. The main sources of private funding have come from Tri-Cap (£260K) and Barwell PLC (£150K) with further contributions from individual investors. An additional £425,000 funding has come via the Scottish Co-Investment Fund.
The investors have brought in Tri Cap’s Sam Taylor as Lamellar Biomedical’s chairman and Dr. Duncan Lawrence who will serve as the company’s Managing Director. Dr, Lawrence, a former Director at Charles River Laboratories (previously Inveresk Research), has extensive experience in drug development and registration and will focus on developing the IP for Lamellasomes® and bringing the product to market.
Dr Lawrence said: “Lamellasomes have great potential in treating cystic fibrosis and other respiratory diseases such as asthma. The challenge for our team in going forward is to get the product through the regulatory process and bring the product to market so it can help alleviate those who suffer from these debilitating respiratory diseases.”
Commenting on the investment, Tri Cap Chairman, Robert Dick said: “The fact that this is Tri Cap’s biggest single investment highlights the belief we have in Lamellar Biomedical. The company is a remarkable example of Scottish biotechnology innovation and we believe that there is considerable global commercial potential for Lamellasomes®.”
END
18 September 2007