TC BioPharm and MEDINET (Japan) announce strategic partnership to develop cancer treatment
New inward investment brings innovative cancer cell therapy to Scotland supported by £500,000 Regional Selective Assistance
Start-up biotechnology company, TC BioPharm Ltd (TCB), is announcing a strategic collaboration with MEDINET, a Tokyo-listed immuno-cell therapy company, to develop a novel treatment for various different types of cancer.
MEDINET will exclusively license its innovative cell therapy technology to TC Biopharm for clinical development in the UK and Europe. This collaboration and subsequent commercialisation is supported by Scottish Development International (SDI), the international arm of Scotland’s enterprise agencies.
TCB’s technology uses patients’ own immune cells grown in culture to target cancer, and has a safe history based on the treatment of numerous patients in Japan. TCB has obtained Scientific Advice from the UK Medicines and Healthcare Products Regulatory Agency which has provided a clear roadmap to clinical studies. Under expert guidance from Principal Investigator, Professor Jeff Evans of the University of Glasgow, TCB plans to treat the first cohort of patients early in 2015, working alongside established cancer clinics in Glasgow and Southampton.
Combining grant support with equity finance from MEDINET and Scottish investors, TCB has an initial funding commitment of £1.3 million, with additional major venture investment anticipated to support further clinical studies.
TCB is working with Scottish Enterprise (SE), through its account management approach, to assist with the company’s strategic business planning, investment strategy and international growth opportunities through SDI. The account team comprises specialist advisors in these areas and from SE’s High Growth Start Up team. A £500,000 Regional Selective Assistance (RSA) award from SE will enable the creation of 35 new highly skilled jobs over the next three years as the company grows. Additional funding for academic collaborations has been provided by Glasgow City Council.
Mr Kunihiko Suzuki, chief executive officer of MEDINET (Japan), said, “It is encouraging to have an excellent business partner in the UK, headed by Dr Michael Leek, who has a well established reputation in the biotechnology and regenerative medicine industry. Over the next few years I believe our partnership with TC BioPharm will successfully obtain marketing approval of this exciting immuno-cell therapy for cancer patients in the UK and Europe.”
First Minister of Scotland Alex Salmond said, “Scotland is at the cutting edge of technological advances in a whole range of different fields and I welcome the collaboration between TC BioPharm Ltd with MEDINET in what is a hugely important area of research.
“Today’s announcement reinforces our position of outperforming the UK for securing inward investment and is testament to the confidence international companies have in Scotland as a country to invest in."
Lena Wilson, chief executive of Scottish Enterprise, added, “Commercialisation of this groundbreaking cancer therapy in Scotland further cements our global reputation for regenerative medicine and stratified medicine. Over the last decade, Scotland has established the regulatory, manufacturing and clinical expertise to lead the world in developing new cell therapies to treat unmet medical needs.
“The partnership between these two companies is great news for Scotland. This new inward investment combines established cell therapy from Medinet with industry expertise and leadership from TC BioPharm’s management team, and is supported by the private and public sector to enable this company to flourish and grow in the global market place.
“There is a clear and growing demand for improved cancer treatments, with the worldwide market for cell and tissue products forecast to almost $10 billion by 2017. Scotland is well placed to maximise this opportunity through companies, such as TC BioPharm, with international growth ambitions.”
Chief executive of TC BioPharm, Dr Michael Leek, stated, “We are one important step closer to Phase II clinical studies and our goal of treating cancer patients with this novel cell therapy. The therapeutic approach being developed by TCB connects both regenerative and stratified medicine, placing Scotland at the forefront of these innovative therapeutic sectors.”
Media contacts - for more information please contact:
Mike Leek, Chief Executive, TC BioPharm Ltd
+44 7798 602 911
news@tcbiopharm.com
About TC BioPharm
Located within the Pentlands Science Park, Edinburgh and Maxim Park, Glasgow, TC BioPharm Limited is a company registered in Scotland (SC 453579) incorporated July 2013. TC BioPharm is developing an autologous anti-cancer immunotherapy which involves expansion of cells over several weeks - formulating a treatment for a wide-variety of different tumour types.
The management team of TCB has extensive commercial cell therapy experience, having collectively developed more than 12 cell-based clinical-grade products working with companies such as Angel Biotech, Azellon, Aderans Research, Intercytex, PPL Therapeutics, ReNeuron and Smith + Nephew. By partnering with TCB’s experienced product development team, MEDINET aims to transfer its proprietary immuno-cell therapy from Japan into a more global market.
About MEDINET
MEDINET was founded in 1995 launching the ‘Immuno-Cell Therapy Total Support Service’ in 1999 under Japanese regulations and laws. By providing this service, MEDINET has enabled patients, who eagerly seek innovative and effective technologies, to have easy access to such technology anywhere in Japan. MEDINET’s mission is to ‘create innovative technologies for building future medical care, and continue to bring such technologies to the public in a prompt and efficient manner’. MEDINET is publicly listed on the Tokyo Stock Exchange.
About Scottish Government
The Scottish Government is committed to maintaining and further investing in a Supportive Business Environment. Our approach will focus our efforts on growth companies, growth sectors and growth markets.
The Scottish Government’s key actions in this area include:
- Establishing four Enterprise Areas in Scotland - including sites with a particular focus on low carbon manufacturing opportunities
- Providing advice and support to help SMEs grow, to hire staff and take on apprentices
- Promoting Scottish exports to capitalise on the significant opportunities in growth markets; with an ambitious target to deliver a 50% increase in exports by 2017
- Continuing to deliver the Small Business Bonus Scheme
- Strengthening levels of innovation and commercialisation, including improving the links between our universities and private sector companies
- Using the Scottish Investment Bank to support early stage innovative technology based businesses, and growth and exporting companies
The key strategies to support an independent Scotland's economy (as set out in the economy paper published by the Scottish Government in November) are:
- Industrial strategy rebalancing the economy – 21,000 jobs from a 1% increase in productivity
- Promoting participation in labour market – 30,000 plus more people in labour market from 1 percentage point increase in activity rate
- Attracting investment and targeted tax measures – 27,000 jobs from a 3 percentage point reduction in headline corporation tax
- Boosting Scotland’s recognition and standing in the world, and a linked up industrial, trade and foreign policy – 100,000 jobs and £5 billion increase in output from a 50% increase in value of Scottish exports
About Phase I/II/II clinical trials
Clinical trials for therapies are generally conducted in three phases. Phase I aims to establish safety of the product being developed; Phase II establishes the optimum dose; and Phase III aims to establish effectiveness of the treatment in a statistically significant manner.