Tuesday 24 April 2018

Inflection aims to raise €8m in financial backing

Cancer breakthough on the cards for Inflection Biosciences….3-6-13
 
Dublin based life sciences company Inflection Biosciences Ltd, has announced that it has entered into a license agreement with the world renowned Spanish National Cancer Research Centre (CNIO) for the exclusive, worldwide rights to develop and commercialise a series of innovative new cancer therapeutics.
 
The company has closed an initial financing round of €450,000 including participation from Enterprise Ireland. Inflection Biosciences and is seeking to raise further investment of up to €8 million over the next three years to help progress an exciting pipeline of potentially ground breaking cancer treatments.
 
Pictured at the announcement were: Darren Cunningham, Co-Founder and CEO of Inflection Biosciences and Dr Michael O’Neill (with glasses), Co-Founder and Director of Research and Development at Inflection Biosciences.
 
Pic. Keith Arkins Photography No Repro Fee
 
Further information:
Martha Kavanagh - Drury
M:  + 353 87 6462006
Martha.Kavanagh@drury.ie
Cancer breakthough on the cards for Inflection Biosciences….3-6-13   Dublin based life sciences company Inflection Biosciences Ltd, has announced that it has entered into a license agreement with the world renowned Spanish National Cancer Research Centre (CNIO) for the exclusive, worldwide rights to develop and commercialise a series of innovative new cancer therapeutics.   The company has closed an initial financing round of €450,000 including participation from Enterprise Ireland. Inflection Biosciences and is seeking to raise further investment of up to €8 million over the next three years to help progress an exciting pipeline of potentially ground breaking cancer treatments.   Pictured at the announcement were: Darren Cunningham, Co-Founder and CEO of Inflection Biosciences and Dr Michael O’Neill (with glasses), Co-Founder and Director of Research and Development at Inflection Biosciences.   Pic. Keith Arkins Photography No Repro Fee   Further information: Martha Kavanagh - Drury M:  + 353 87 6462006 Martha.Kavanagh@drury.ie
Sarah McCabe

Sarah McCabe

Irish drug development start-up Inflection Biosciences aims to raise €8m in financial backing over the next three years after securing the rights to develop and sell a promising new cancer treatment.

In a deal with the world-leading Spanish National Cancer Research Centre, Inflection will develop drug molecules that could be used to target diseases such as leukaemia, lymphoma and a number of other tumours, such as pancreatic, colorectal and oesophageal cancers.

So-called kinase inhibitors, which regulate proteins associated with those diseases, have demonstrated good activity in early research, according to Inflection, and the treatments can also be taken orally.

SUPPORT

Once it has completed pre-clinical studies on the treatment in collaboration with the Spanish centre, Inflection Biosciences plans to team up with a larger drug company over the next three to five years to support further clinical development and commercialisation.

The Irish company has just secured €450,000 worth of finance from a private investor and Enterprise Ireland.

Inflection said there was significant demand by larger pharmaceutical companies for innovative cancer therapeutics.

Many of the larger pharmaceutical companies have closed major in-house research facilities and placed a greater emphasis on licensing, offering good opportunities for small companies with the right assets to partner with larger drug makers.

The Government has specifically targeted life sciences as a major area for investment. Its newly announced €175m start-up fund is aimed at venture capital firms that invest in life sciences and technology companies.

At the announcement (above) were Inflection director of research and co-founder Dr Michael O'Neill (left), and CEO and co-founder Darren Cunningham.

Irish Independent

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