An Edinburgh-based biotech company has sealed a £2 million funding injection to advance the treatment of haemophilia.
ProFactor Pharma (PFP), which is based just outside the capital at the Roslin Innovation Centre, has secured the money in a funding round led by the investment syndicate Kelvin Capital and supported by Ingenza and the Scottish Investment Bank, the investment arm of Scottish Enterprise
The funding will be used for process optimisation and toxicology studies to enter clinical trials after 12 months as the firm continues to develop a low cost treatment for haemophilia A.
Jaymin Amin from PFP said: “The current global market is vast. However, current supplies only reach a third of those who need it.
“Our patented process delivers recombinant human factor VIII (rhFVIII) indistinguishable from a market leading product but due to the higher yield and lower cost of our product we are in an extremely strong position to lead in the massively undersupplied markets of Eastern Europe, Middle East and Asia.”
The Kelvin Capital syndicate, led by directors John McNicol and Angus Hay, represents private investors in the UK, Europe and the US.
McNicol said: “ProFactor Pharma is set to disrupt a market with lower cost and higher quality treatments for 400,000 sufferers of haemophilia A across the world.
The testing process has been successfully run at scale at a European contract manufacturing organisation and PFP is now ready to optimise the production process prior to moving into toxicology studies.