Business
NeuroTargets Corporate Deal
NeuroTargets Corporate Deal.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n RNS Number : 4428P Angle PLC 16 July 2010 \n \n\n \n \n \nANGLE plc (\"the Company\")\n \nNeuroTargets Corporate Deal \n \nANGLE plc (\"ANGLE\"), the international venture management company focusing on the commercialisation of technology and innovation, is delighted to announce strong progress with NeuroTargets, its 25% portfolio company specialising in the relief of neuropathic pain.\n \nAs highlighted in the Company's interim results, NeuroTargets has licensed its intellectual property in relation to neuropathic pain therapeutic molecules to the University of Bristol, who have used that background IP to successfully raise further funds to advance the galanin programme (galanin is a protein used by nerve cells to communicate with each other). Wellcome Trust provided first phase funding of £540,000 for a research project at the University of Bristol to investigate these small molecules entitled \"Wellcome Trust Seeding Drug Discovery Interim Award £540K to Prof David Wynick Drug development and optimisation of novel allosteric modulators of the second galanin receptor subtype (GalR2) for neuropathic pain\". \n \nFollowing the success of the first phase work, the Wellcome Trust have now agreed a second phase funding of a further £3.8 million for the research project at the University of Bristol bringing the total funding to £4.3 million. The second phase funding is intended to complete the pre-clinical work over the next two years to allow the small molecules to enter human trials. If this work is successful, the small molecules can then be licensed to a major pharmaceutical company for clinical trials as a therapeutic for neuropathic pain. The neuropathic pain relief drug market represents a multi billion dollar market.\n \nDiabetes is the most common cause of neuropathic pain, which is often experienced as a burning or electrical pain. In the UK, about 5% of the population are currently living with diabetes. Latest estimates from the World Diabetes Foundation predict that the world's population of diabetes sufferers will jump from 285 million in 2010 to 438 million by 2030, given the increasing levels of obesity. Of those with diabetes, over half typically develop peripheral nerve damage (neuropathy) and 15-20% of those patients typically deve...