LICR Spin-Off Companies
Spin-off companies are commercial enterprises that license technologies generated from LICR research. Holding an equity position in a spin-off company allows LICR to have input into the rational development of Institute discoveries and potentially to obtain a long-term value return if the discovery becomes a diagnostic or therapeutic application.
PIramed (2003, UK)
LICR spun off its first company, PIramed Ltd, to develop new cancer therapies based on selective small molecule inhibitors of phosphatidyl-inositol 3-kinase (PI3K) signal transduction. These inhibitors resulted from research conducted at the former LICR University College London Branch with collaborators at Cancer Research UK and the Institute of Cancer Research (both in London, UK). PIramed Ltd was started with a USD 13.2 million investment by JPMorgan & Partners and Merlin Biosciences. In 2005, PIramed entered into a major collaboration deal with Genentech which was, at the time, one of the largest preclinical collaborations ever signed by a UK biotechnology company. In 2008, PIramed was acquired for USD 175 million by the pharmaceutical company, Roche, in one of the biggest acquisitions in the UK biotechnology sector for the past five years. Roche will now continue the development of a potential cancer therapy, first identified by LICR investigators, currently in phase I clinical trials.
Success Story: PI3K Discovery to Clinic ››
Lymphatix (2004, Finland)
Lymphatix was created to develop and commercialize products based on discoveries from LICR’s global angiogenesis program. Agonists for vascular endothelial growth factor (VEGF)-C and VEGF-D will be assessed for the treatment of medical conditions with impaired blood supply or lymphoid drainage. Lymphatix was launched in collaboration with Licentia Ltd, the technology transfer arm of the University of Helsinki.
Vegenics (2006, Australia)
Vegenics was also launched in collaboration with Licentia Ltd in order to develop and commercialize products based on discoveries from LICR’s global angiogenesis program. In 2008, Vegenics was wholly acquired by Circadian Technologies Ltd in exchange for Circadian equity granted to LICR and Licentia. Vegenics is assessing whether moncolonal antibody antagonists for VEGF-C and VEGF-D can be utilized as cancer therapeutic and diagnostic agents.
Success Story: Angiogenesis & VEGFs ››
Life Science Pharmaceuticals (2006, USA)
LSP was created to develop and commercialize three targeted antibodies generated by LICR and assessed in first-in-man clinical trials conducted by the Institute. These antibodies—A33, F19 and 806—are indicated for the possible treatment and/or diagnosis of a variety of cancers, including head and neck, breast, colorectal, esophageal, and non-small cell lung (NSCLC) cancers, squamous cell carcinoma, and glioblastoma (brain tumors). In 2008, the pharmaceutical company Abbott acquired the exclusive world-wide rights to develop anti-EGFR antibody, 806, in a major licensing deal.
Success Story: EGFR and Antibody 806 ››
Recepta Biopharma (2006, Brazil)
Recepta is Brazil’s first oncology start-up company, and has attracted approximately USD 9 million in government funding from both federal and state (São Paulo) agencies. Recepta is pursuing the clinical development of targeted antibodies generated and tested by LICR investigators, and of second-generation antibodies generated by their own scientific staff. In 2007, Recepta initiated the first FDA-registered phase II clinical trial fully conceived and conducted in Brazil. The trial is testing Rebmab100 (hu3S193 antibody) in ovarian cancer. www.ReceptaBiopharma.com.br
