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Mercia Technology Seed Fund seals investment in Celentyx


11 December 2007

The Mercia Technology Seed Fund (MTSF), a leading provider of venture capital to early stage technology in the West Midlands, has just completed an initial investment in Celentyx Ltd, a pharmaceutical research and development company based at the Birmingham Research Park. Celentyx will use the funds to extend its work in the development of novel therapies for diseases of the human immune system.

Celentyx was officially launched in March 2007 to commercially develop world-leading research from the University of Birmingham’s Medical School. The company uses a novel technology developed by the founders, called NCIPÔ (Novel Clinical Identification ProfilingÔ), to assess the suitability of existing drugs in the treatment of new illnesses. This proprietary process uses clinically relevant human tissue and human cells to identify potential drugs.

Previous research from the Birmingham team has already shown the potential of medicines such as Prozac and drugs used to treat Parkinson’s disease as possible therapies for certain types of lymphoma and leukaemia. The company has two projects that are ready to enter Phase II clinical studies.

As part of the investment package Dr Mark Payton (Fund Principal, MTSF) will join the Celentyx Board.

Dr Mark Payton, commented:

“Celentyx is a compelling example of a new wave of emerging companies that are utilising patented technology to support the pharmaceutical sector in re-profiling their own existing compounds to treat new disease areas. Celentyx benefits from this exposure to develop its own internal pipeline. Celentyx has a unique, low risk / low cost approach to rapidly progressing compounds into the clinic.”

Dr Nicholas Barnes, CEO of Celentyx, added:

“ We are delighted to have secured this further investment to expand and develop operations and will benefit further from the considerable experience Dr Mark Payton brings to the Celentyx Board.”

As well as conducting original research, Celentyx also makes their proprietary Immuno-ProfilingÔ technologies available to other pharmaceutical companies, who are looking to examine the effect potential new drugs have on the human immune system.

The Mercia Technology Seed Fund, is a £12.8m technology fund investing in start ups and other early stage technology-based ventures located in the West Midlands and is managed by Birmingham-based WM Enterprise*, a leading provider of specialist venture capital finance.

end

Notes To Editors
Mercia Technology Seed Fund
The Mercia Technology Seed Fund typically invests in companies based in the West Midlands with high growth prospects that have a robust and developed proprietary product or technology platform. For more information go to www.merciafund.co.uk. One of the key investors in the Mercia Technology Seed Fund is Advantage West Midlands, the regional development agency for the West Midlands.
Contact: Mark Payton, Fund Principal: markp@merciafund.co.uk or 07811 435199

About Celentyx
Celentyx Ltd is an R&D-based company with a focus on human immune disease. Dysfunction of the immune system underlies numerous diseases including lymphoma, leukaemia, inflammation, allergy and autoimmune diseases. As key effectors within the immune system, lymphocytes are highly attractive targets for drug candidates in a wide variety of common life-debilitating or life-threatening diseases.

A spin-out from the University of Birmingham Medical School, Celentyx technology and expertise originated from the laboratories of Dr Nicholas Barnes and Prof John Gordon. Amongst the first in the world to recognise that many neurotransmitters also modify the immune system, Dr Barnes and Prof Gordon are internationally recognised authorities in this relatively new field of neuroimmunopharmacology.

Contact: Nicholas Barnes – CEO, Celentyx Ltd Tel: 0121 414 4499 / Mob: 07973 191 822
Email: nicholas.barnes@celentyx.com www.celentyx.com


Publisher Contact Information:

WM Enterprise
+44 7811 435199
markp@merciafund.co.uk

Company profile of WM Enterprise
Past press releases of WM Enterprise.

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