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.