BTG Invests In Senexis; Senexis to develop novel treatments for ageing-related diseases.Business Editors LONDON--(BUSINESS WIRE)--Jan. 9, 2003 BTG (LSE LSE - Language Sensitive Editor :BGC), the global technology commercialization company, today announced an investment in Senexis Limited, a new biotechnology company focusing on the development of pharmaceuticals for the diagnosis and treatment of ageing-related diseases caused by a common pathogenic process called amyloidosis Amyloidosis Definition Amyloidosis is a progressive, incurable, metabolic disease characterized by abnormal deposits of protein in one or more organs or body systems. . Senexis Limited has raised (pound)1.4 million (US$2.2 million) of start-up financing from BTG and Catalyst BioMedica Limited, and will be based in the Department of Biomolecular Sciences at The University of Manchester Institute of Science and Technology The University of Manchester Institute of Science and Technology (UMIST) was a university based in the centre of the city of Manchester in England. It specialised in technical and scientific subjects and was a major centre for research. (UMIST UMIST University of Manchester Institute of Science and Technology (UK) ). Senexis Limited was founded by Kelvin Stott (formerly of Cambridge University and McKinsey) and Andrew Doig (a Senior Lecturer at UMIST), who together discovered a novel class of potent inhibitors that can effectively block and reverse the key step in this process of protein/peptide aggregation. Amyloidosis is now believed to be fundamental to the pathology of at least 20 currently incurable ageing-related diseases, including type II diabetes Type II diabetes Type II diabetes is the most common form of diabetes and usually appears in middle aged adults. It is often associated with obesity and may be delayed or controlled with diet and exercise. Mentioned in: Diabetic Ketoacidosis , Alzheimer's and Parkinson's diseases, as well as Huntington's disease, CJD/BSE and Motor Neurone Disease The motor neurone diseases (or motor neuron diseases) (MND) are a group of progressive neurological disorders that destroy motor neurones, the cells that control voluntary muscle activity such as speaking, walking, breathing, and swallowing. . Commenting on the deal, Anthony Lando, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of BTG said: "BTG has worked closely with Senexis' founders over the past six months. We are committed to providing ongoing support to help the company realise the full potential of its exciting technology for the diagnosis and treatment of ageing-related diseases." Kelvin Stott, Senexis' Chief Scientific Officer, commented: "We are thrilled to have secured funding from BTG and Catalyst Biomedica. Amyloid-related diseases affect over 50 million people in the developed world, costing approximately US$500 billion a year. I am confident that our technology has the potential to revolutionize the diagnosis and treatment of these diseases." Andrew Doig, Research Director at Senexis, added: "Our initial results look very promising. Our lead compounds appear to inhibit and reverse the pathogenic process associated with these diseases very effectively." Senexis' operations will be based at UMIST, where the university's technology transfer company, UMIST Ventures Limited, was closely involved in forming the company. Paul McCubbin of BTG will join the Board of Senexis and Mark Treherne (formerly of Pfizer, Cambridge Drug Discovery and BioFocus) will be Chief Executive Officer. Sharon Spencer of Catalyst BioMedica will act as observer on the Board. About BTG BTG finds, develops and commercializes emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialized major innovations such as Magnetic Resonance Imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel Cell (MLC (MultiLevel Cell) A flash memory technology that stores more than one bit per cell. Traditional flash memory defines a 0 or 1 bit based on a single voltage threshold. ) memory. BTG is quoted on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "BGC" and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com. About Catalyst BioMedica Limited Catalyst BioMedica Limited is a wholly-owned business development subsidiary of the Wellcome Trust. Catalyst's aim is to work with scientists and their host institutions to enable and support the translation of fundamental biomedical research into innovative products and technologies that will meet global healthcare needs. The Wellcome Trust is an independent research-funding charity, established under the will of Sir Henry Wellcome in 1936. The Trust's mission is to foster and promote research with the aim of improving human and animal health. |
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