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GEN News Highlights : Dec 1, 2010

Indigix Propped Up with over $1M Investment

New immunomodulator firm will exploit platform against diseases ranging from IBD and diarrhea to wound healing.

The U.K.’s Imperial Innovations and recently established life science fund Kurma BioFund I have invested a total of £0.85 million ($1.33 million) into Innovations’ new portfolio company Indigix. The investment has been split equally between Innovations and Kurma and follows on from a convertible loan granted to Indigix by Innovations earlier in 2010. Total investment in the new company now totals £0.93 million ($1.45 million).

Indigix is developing a platform technology for engineering synthetic molecules against defined immunological responses involved in a range of diseases. Potential applications for the technology include the treatment of diarrheal diseases, inflammatory bowel disease, and wound healing, Imperial Innovations notes.

Indigix will commercialize technology developed by Sunil Shaunak, M.D., from Imperial College London’s Hammersmith Hospital campus. Professor Shaunak previously founded PolyTherics, another Imperial Innovations portfolio company.

Imperial Innovations combines technology transfer, company incubation, and investment activities. It has exclusive access to relevant IP emerging from Imperial College London The organization  says it has helped launch three new companies in the 12 months to July 2010, and invested £14 million ($21.85 million) in 20 ventures over the same period.

Kurma Life Science Partners is a new Paris-based venture capital firm focused on life sciences and healthcare. Kurma BioFund I closed its first, Euro 50 million ($65.62 million) round of financing in November 2009.