OXFORD, England, March 17, 2017 /PRNewswire/ --
Neuro-Bio Ltd, a UK-based early stage biopharmaceutical company focussing on neurodegenerative diseases, today announced it has received Series A funding of $3.2 million from US-based Kairos Ventures to continue developing a diagnostic tool for early detection of Alzheimer's and to discover new drugs targeting the disease. Neuro-Bio has been pioneering a novel approach to Alzheimer's disease and related neurodegenerative disorders since 2013. The innovative Neuro-Bio technology is the result of over 40 years of basic research by Baroness Professor Susan Greenfield's group, initially at Oxford University, that points to a previously unidentified mechanism underlying the continuing cycle of cell death that characterises the neurodegenerative process. The company has been exploring whether activation of this brain mechanism could be halted by pharmaceutical intervention and how these changes are reflected in a biomarker present in blood. The new investment will allow Neuro-Bio to develop the biomarker into a diagnostic tool and to make substantive progress towards identifying a lead compound with promising therapeutic potential in Alzheimer's disease.
Neuro-Bio's Founder and CEO, Baroness Professor Susan Greenfield commented "We are delighted to have secured this Series A investment to support the continued growth of our company from start-up to small enterprise. The investment from Kairos is a recognition of our fresh approach as well as the expertise of our team: this investment will increase the possibility of discovery of a novel disruptive treatment that is much needed to improve outcomes for patients with Alzheimer's".
Professor Margaret Esiri, Neuropathologist at the Nuffield Department of Clinical Sciences said, "Neuro-Bio's approach to the problem of Alzheimer's disease is novel and scientifically well-founded. It is a good example of the new thinking that is urgently needed in this field."
Alex Andrianopoulos, Chief Research and Development Officer at Kairos Ventures commented "Alzheimer's is a major healthcare challenge that is fast becoming a global epidemic. With Neuro-Bio's novel approach, a world class team of scientists and our investment and support we believe that the company will make a significant impact on the fight against Alzheimer's."
Mark Hooper of OBN, a not-for-profit support organisation for innovative life science organisations in UK, commented "It is great to hear that a member of our network has secured significant funding. The fight against Alzheimer's is a world concern, and this new initiative brings together a dynamic, innovative team of scientists from the UK with sound investment from the US to allow further development of a genuinely novel, disruptive approach for this life-shattering disease."
Over the last 3 years Neuro-Bio has been funded by Angel investors from both UK and Australia and has generated six patent families with two more in the pipeline. It is this success in developing the research to possible commercial application, plus the sound scientific and corporate due diligence required by the venture capitalists at Kairos, that has led to the present investment.
The last few months have seen the demise of various anti-Alzheimer drug candidates, based on traditional targets. Neuro-Bio, by pioneering a completely disruptive strategy, will now open up a new direction in the quest for an effective treatment. Find out more about Baroness Susan Greenfield and her work here. You can find more information about Baroness Susan Greenfield on her blog.
Neuro-Bio Ltd is an early stage biopharmaceutical company that is developing novel, effective therapies for neurodegenerative disorders such as Alzheimer's, Parkinson's and Motor Neuron diseases. The company is located on the Culham Science Park, Oxfordshire and was founded in 2013 by Baroness Professor Susan Greenfield based on 40 years of original neuroscience research leading to an exclusive and proprietary approach to developing a new solution to arrest the progress of these CNS disorders.
About Kairos Ventures:
Kairos Ventures is an early stage investment company based in California, USA. Kairos invests in, supports and nourishes the world's leading scientific discoveries and commercializes them into viable businesses as quickly as possible. The team possesses an extraordinary passion to have a huge impact on our world through the creation of companies that will improve lives today and in generations to follow. They aim to do this by backing the very best scientists, engineers and entrepreneurs and helping them transform their knowledge, ideas and discoveries into viable businesses.
About Alzheimer's Disease:
Alzheimer's disease is fast becoming one of the biggest socioeconomic burdens in the world with a growing worldwide incidence rate of almost 10 million new cases of dementia each year. Since both the incidence and prevalence of Alzheimer's disease increases with age, the number of patients is growing significantly with an aging population. In 2015 there were over 46 million people living with dementia with an estimated socioeconomic cost of $800 billion annually and it is expected that the number of patients will rise to over 130 million by 2050 costing society over $2 trillion annually. Alzheimer's disease was recently announced as the UK's leading cause of death in the over 65's and in the US it is now the 6th leading cause of death across all ages.
SOURCE Neuro-Bio Limited