PolyTherics and Minapharm to create enhanced biopharmaceuticals

PolyTherics, a UK biopharmaceuticals spin-out from Imperial College, London dedicated to precision engineering of proteins to improve their pharmacokinetic properties, is to collaborate with Minapharm Pharmaceuticals based in Cairo, Egypt.

As part of the collaboration PolyTherics will apply its drug modification technologies to a target protein of commercial interest to Minapharm. Minapharm has an option to license the collaboration intellectual property for the development and commercialisation of new products and to submit further target proteins.

PolyTherics will receive an upfront licence fee and further milestone payments. Financial details were not revealed.

PolyTherics" expertise lies in the targeted modification of biologic compounds for therapeutic application. Through its poly(ethylene glycol) (PEG)-based technologies, the company optimises the performance of biologics administered as parenteral drugs.

Minapharm provides high-quality biopharmaceuticals to patients in developing countries through its subsidiary Rhein Minapharm Biogenetics.

Dr Keith Powell, chief executive of PolyTherics, said: "We are uncovering the considerable development potential of our PEGylation technologies to create biotherapeutic product candidates. We are looking forward to collaborating with a company with such a solid reputation in innovative pharmaceuticals development as Minapharm."

PEGylation increases the time that a compound remains in the bloodstream before being metabolised or excreted by the body, thereby improving its half-life and potentially reducing treatment frequency, decreasing side effects and improving patient compliance.

PolyTherics is based at the London Bioscience Innovation Centre. Imperial Innovations Group, Longbow Capital and The Capital Fund invested £2.3m in the company in June 2007.