Pharma firm Alfacyte secures £250,000 in funding round

BioCity Scotland-based pharmaceutical outfit Alfacyte has received a fresh £250,000 injection to advance development of a topical treatment for psoriasis.

Scottish Investment Bank head Kerry Sharp said Alfacyte is a 'great example' of Scotland's life sciences community. Picture: Contributed

The second-round equity funding has been provided by the firm’s existing investors, the EOS Technology Investment Syndicate and the Scottish Investment Bank – part of Scottish Enterprise.

Alfacyte’s goal is to broaden the scope of interferon therapy across a range of therapeutic applications from cancer treatment to autoimmune disease and allergy. Its first target, psoriasis, is a chronic, recurring skin disease for which current treatments can have significant side effects.

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Kevin Grainger, founder and gatekeeper of EOS, said: “Our investors have been excited by the results of Alfacyte’s research and the strong patent portfolio it is building up.”

Kerry Sharp, head of the Scottish Investment Bank, said: “Alfacyte is a great example of the world-leading developments in therapeutic treatment coming out of Scotland’s life sciences community, which has a rich heritage of innovation, successful partnerships and pioneering research.”

BioCity Scotland is based at Newhouse in Lanarkshire. Alfacyte was established in 2012 by Bill Stimson, professor of immunology at the University of Strathclyde in Glasgow.