Major boost for University spin-out company Haemostatix

Posted by ap507 at May 25, 2016 10:40 AM |
Drug development company Ergomed plc acquires University of Leicester spin-out company

Issued by University of Leicester Press Office on 25 May 2016

UK-based Ergomed plc, a company specialising in services to the pharmaceutical industry and new drug development, has acquired Haemostatix Ltd, originally a University of Leicester spin-out company. The move signals further confidence in the technologies developed by Haemostatix including an innovative clotting agent to help control bleeding during surgery.

Ergomed is acquiring 100 per cent of the issued share capital of Haemostatix for an initial consideration of £8.0 million, with contingent consideration of a further £20.0 million dependent on future development and sales.

Ergomed is acquiring Haemostatix from a group of UK-based venture capital investors including Albion Ventures, NESTA, Catapult Ventures, Esperante, BraveHeart, as well as the Wellcome Trust.

Nottingham-based Haemostatix, which started life at the University of Leicester is developing a new class of topical clotting agents. The technology is based on a novel class of molecule that binds directly to fibrinogen to promote haemostasis and is targeted at the global surgical bleeding market, worth more than $2 billion.

The two lead products developed by the Haemostatix team are PeproStat (Phase IIb ready), a blood-free, ready-to-use topical liquid haemostat which is applied to wounds to control bleeding during surgery, and ReadyFlow (pre-clinical), a blood-free, ready to use, transparent and flowable haemostatic gel packaged in a pre-filled syringe. 

Dr Ben Nichols, CEO of Haemostatix, said: “This deal with Ergomed is excellent news for Haemostatix and will help us accelerate the process of getting our technology into hospitals worldwide. There is a genuine need for rapid acting, ready-to-use haemostats that are safe and cost-effective, and we believe our technology can deliver these benefits to surgeons and their patients.”

Professor Alison Goodall, a founding director of Haemostatix and Professor of Thrombosis & Haemostasis at the University of Leicester, added: “Ben and the team have done a magnificent job in developing the technology and completing a successful safety study in man. This deal allows the products and the company to move forward into clinical trials.”

Miroslav Reljanovic MD, Chief Executive Officer of Ergomed plc, said:  “The Haemostatix acquisition provides an opportunity to advance our growth strategy through the development of our first proprietary development programme.  I have confidence from the current pre-clinical and clinical data that the Haemostatix technology works as an effective haemostat.  This combined with the rapid development and attractive market potential makes the acquisition a great extension of our co-development portfolio.”

Haemostatix was originally a spin-out from the University of Leicester founded by industry veteran Sarah Middleton and Professor Alison Goodall. The Company has been funded by Albion Ventures, Catapult Ventures, NESTA, Lachesis, Esperante and the Wellcome Trust. The business has been managed by industry veterans Dr Ben Nichols, CEO and Dr Robert Burns, Chairman. The lead products were invented by Haemostatix’s scientists Dr Greg Walker and Dr Renata Zbozien.

Ends

Notes for editors:

About Haemostatix

Haemostatix Ltd, a spin-out from the University of Leicester, was co-founded in 2003 by Sarah Middleton and Professor Alison Goodall, a member of the academic staff of the Department of Cardiovascular Sciences at the University of Leicester, and co-founder and CSO of the company.

The company moved its operation to Nottingham Biocity in 2007 and in March 2008 appointed a new CEO, Ben Nichols. Ben has many years of experience in the commercialisation and licensing of new technologies and products in the bio-pharma industry including a Sheffield University spin-out, Plasso Technology Ltd, where he helped the company to realise a trade sale exit.

In 2015, Haemostatix claimed top spot and a £20,000 prize in the Royal Society of Chemistry’s Emerging Technology Competition.

About Ergomed

Ergomed plc is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries. 

Ergomed provides clinical development, trial management and pharmacovigilance services to over 80 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.

Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.

As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development.  For further information, visit: http://ergomedplc.com

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