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Portfolio news - The Vaccine Group raises £680,000
Portfolio news - The Vaccine Group raises £680,000.
About this update from Frontier Ip Group Plc
[{"type":"text","content":"\n \nRNS Number : 2393A Frontier IP Group plc 20 January 2020 \n\nRNS Reach\nAIM: FIPP\n20 January 2020\n \nFrontier IP Group plc\n(\"Frontier IP\" or the \"Group\")\n \nPortfolio news - The Vaccine Group raises £680,000 to accelerate development of novel vaccine technology\nFrontier IP, a specialist in commercialising university intellectual property, today announces that portfolio company The Vaccine Group Limited (\"the Company\" or \"TVG\") has raised £680,000 through its first equity funding round.\nThe proceeds will be used to accelerate development and expand the range of its novel animal vaccine technology. Targeted diseases currently fall into two broad areas: zoonotic diseases, such as Ebola, bird flus and SARs, that jump from animals to animals, including humans; and diseases, such as African swine fever and bovine tuberculosis, which impact economically important livestock. The division between the two varies around the world: bovine tuberculosis is a direct human health threat in many lower and middle countries (\"LMICs\").\nThe fundraising values the University of Plymouth spin out at £9.5 million, with Frontier IP's 17 per cent equity stake valued at £1.6 million. This value was reflected in Frontier IP's results at 30 June 2019, announced on 6 November 2019.\nTVG's vaccines are based on benign forms of herpesviruses, a group of viruses that are found in all animals, including humans. They are created by inserting a non-infectious region of DNA from the pathogen being targeted into the herpesvirus. This vaccine then stimulates an immune response against the disease when delivered into the animal.\nThe UK, US and Chinese governments have provided grant funding of more than £9 million to programmes involving TVG. They include projects to tackle: \n· Ebola and Lassa fever, funded by the US Department of Defense \n· Streptococcus suis, an emerging zoonotic disease in pigs that can be fatal to humans, funded by the UK Department of Health and Social Care and the Chinese government; and\n· Bovine mastitis, funded by the global bacterial vaccine network Bactivac.\nThe Company is also developing vaccines to combat: \n· African Swine Fever Virus, a disease currently having a devastating impact on the swine herd in many parts ...