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CMP Therapeutics raises €4.5 million to develop Respiratory Allergies Treatment
CMPT commences Clinical Trials of Nasal Spray


CMP Therapeutics Ltd, a new Oxford company that has developed a natural treatment for sufferers of asthma, hay fever, dust mite and other allergies, today announced the closing of its Series A funding round provided by Inventages Capital Investments Inc, who invested €1.0 million as the first tranche in December 2005, and now, following the achievement of a key milestone, has just invested a further €1.0m, as part of a total investment of €4.5m, with provision for follow-on capital. The introduction to Inventages was made through Oxford Investment Opportunity Network, (OION), Europe’s leading technology business angel network.

CMPT’s first product, Allermatic, is a nasal spray that uses a special preparation of chitin micro-particles (CMP), a naturally-occurring polysaccharide derived from shrimp shells. The CMP compound acts as an immune enhancer by stimulating a natural anti-allergenic process in the body and does not produce the adverse side-effects of conventional drugs. Initial tests show that Allermatic is effective against a wide range of common pollen allergies, house dust mite allergy and allergy to cats and CMPT will use the funding from Inventages to take CMP through clinical trials on patients with hay fever. The first patients are due to be dosed at the start of a clinical trial this month.

The incidence of allergic disease is increasing rapidly, described by the WHO as the ‘number one immuno-pathological problem,’ and it is estimated that 50% of the population in the developed world may suffer from allergies by 2015. Current drugs are limited in their efficacy, offer only temporary relief and, unlike CMP, do not treat the underlying disease.

Bruce Savage, CEO of CMP Therapeutics, said: “CMP is one of the first natural immune enhancers that is readily available, as a by-product of the shellfish industry. This makes it safer and easier to produce than many other immune enhancing agents currently in development. Furthermore, it should be able to offer long term relief from allergies because it treats the underlying causes of hayfever and asthma, as well as treating the symptoms.”
Recently, academic collaborations have also demonstrated promising early results showing that CMP nasal spray enhances protection against influenza virus including the H5 N1 avian flu virus through the same mechanism of enhancing the natural immune system’s ability to fight infections.

Oxana Kukhaneva, Investment Manager at Inventages, said: “We are delighted to provide the funds needed to take CMPT’s novel compound for treatment of respiratory allergies through pre-clinical development and clinical development.”

Mr Savage added: “Having an investor who is prepared to fund the company through to completion of Phase II trials means that management can focus on demonstrating efficacy for the treatment of hay fever in as short a time as possible.”

Dr Jon Cox, Manager of OION, said: “We congratulate CMP Therapeutics on securing substantial funding from Inventages. Bruce Savage is one of Oxfordshire’s best-known serial entrepreneurs and this is the third time that OION has helped to match one of his companies with a sympathetic investor. We wish CMPT every success with the development of their healthcare products, which have the potential to benefit many thousands of patients.”
- ENDS -
Photo available on request
Dr Peter Strong, Scientific Founder, and Bruce Savage, CEO of CMP Therapeutics, with Allermatic, the company’s nasal spray which provides a natural treatment for hayfever sufferers.
Editors Notes
Press enquiries to: Margaret Henry, PR Manager, OION.
Tel: +44 (0)1865 811199 E-mail: m.henry@oxin.co.uk
1. Oxford Investment Opportunity Network (OION)
Oxford Investment Opportunity Network is Europe’s most successful technology business angel network that links investors with entrepreneurs seeking business development funds from £150,000 to £2 million. OION helped 13 companies raise £3.9m in the year<


Publisher Contact Information:

The Oxfordshire Investment Opportunity Network (OION)
+44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of The Oxfordshire Investment Opportunity Network (OION)
Past press releases of The Oxfordshire Investment Opportunity Network (OION).

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