Deal announced a day after Celtic Pharma pledged £5 million for Cantab research.
Leverton Licence Holdings (LLH), a subsidiary of Celtic Pharma’s Celtic Pharma Holdings II LIP (CP2) fund, is to invest in a biopharmaceuticals research program undertaken jointly by Cantab Biopharmaceuticals and PolyTherics. The announcement comes 24 hours after Celtic Pharma confirmed making a £5 million investment in Cantab to support the latter’s enhancement of off-patent biologics in the field of hematology.
Cantab is a wholly owned subsidiary of CP2 and will work with PolyTherics, which specializes in the use of biomedical polymers to optimize therapeutics. PolyTherics’ technologies include its patented TheraPEG™ approach to the PEGylation of therapeutic proteins and antibody fragments.
Through the collaboration PolyTherics will receive an up-front payment and ongoing technical support. LLH has an option to submit another two proteins for research into the collaboration. LLH will also have an option to license products resulting from the joint research in return for paying PolyTherics a share of commercial sales.