A SCOTTISH biotechnology start-up has teamed up with a listed Japanese firm and secured more than £1 million in funding to develop a “novel” treatment for various types of cancer.
TC BioPharm yesterday announced a strategic collaboration with Tokyo-listed Medinet, an immuno-cell therapy company which will exclusively license its technology for clinical development in the UK and Europe. This collaboration and subsequent commercialisation is being supported by Scottish Development International, the overseas arm of Scotland’s enterprise agencies, with a £500,000 regional selective assistance grant.
Along with equity finance from Medinet and Scottish investors, the venture has an initial funding commitment of £1.3m, with additional investment expected. TC BioPharm, which is based at the Pentlands Science Park outside Edinburgh, has leased a site at Maxim Office Park in Lanarkshire, where it will establish a new clean room, lab and administration facility which will become a Scottish hub for immuno-cell therapy research to benefit cancer patients.
Chief executive Michael Leek said: “We are one important step closer to our goal of treating cancer patients with this novel cell therapy.”