October 02, 2007 04:24 ET
Serentis Acquires Atopic Dermatitis Company Surface Therapeutics
CAMBRIDGE, UK--(Marketwire - October 2, 2007) - Serentis, a UK-based biopharmaceutical
company innovating, acquiring and developing dermatological and wound care
products, announced today that it has completed the acquisition of Surface
Therapeutics Ltd. ("Surface"). Surface has pioneered research into
discovering novel, patented treatments for dermatological diseases.
Serentis has purchased the entire share capital of Surface in consideration
for the issue of shares in Serentis. Financial details were not disclosed.
Tim Sharpington, Chief Executive Officer of Serentis said "This acquisition
supports our goal of establishing a robust, clinical-stage product
pipeline. The lead compounds identified by Surface target new mechanisms
for the treatment of atopic dermatitis. We will invest in the development
of these novel therapies for this debilitating condition where more
effective treatment options are required."
David Laskow-Pooley, Chief Executive of Surface, said "combining the two
companies achieves the critical mass required to progress our products
quickly to clinical proof-of-concept testing. It also establishes Serentis
as a dermatology company with the Surface assets complementing and adding
to the strong Serentis portfolio."
Surface was founded in 2004 as a spin-out company from the University of
Oxford based on the research undertaken by its two academic
founders, Professor William Cookson and Dr Miriam Moffatt. Their
collaboration with Professor John Harper at the Institute of Child Health
at the Great Ormond Street Hospital in London has identified several
important genes which predispose an individual to atopic dermatitis and
asthma. Surface was established to commercialise this research and to focus
on developing new treatments for these major diseases. The company's lead
product, a novel treatment for atopic dermatitis, is in late-stage
pre-clinical evaluation.
The founders and management of Surface will remain as active participants
in the continued development of Serentis by either joining or advising the
company.
Enquiries
Serentis Inc
Tim Sharpington, Chief Executive Officer
Tel: + 44 (0)1223 437028; email: timsharpington@serentis-pharma.com
Notes to Editors
About Serentis Inc
Serentis Inc is a privately owned biopharmaceutical company developing a
clinical-stage pipeline of products in areas of unmet medical need. Its
initial focus is in the areas of dermatology, wound care and topically
applied products. Serentis has in-house, low risk discovery and development
capabilities and intends to use its core skills by licensing near
clinical-stage products and technologies. The development model undertaken
by Serentis is based on a fast to proof-of-principle approach.
Serentis was incorporated in Delaware in 2006 and its current operations
are based in Cambridge, UK through its wholly owned subsidiary Serentis
Ltd. It completed a $20 million (£10 million) Series A financing in June
2007 jointly led by MVM Life Science Partners LLP, Apposite Capital LLP and
Novo A/S.
For further information visit www.serentis-pharma.com
About Atopic Dermatitis
Atopic Dermatitis (AD), which is synonymous with atopic or allergic eczema,
is a chronic, relapsing skin disease which is characterised by intense
itching, dry skin, redness and exudation. AD is a common and debilitating
condition occurring with more than 40 million suffers worldwide. It is
particularly common in childhood with around 10% of infants in children in
the US suffering the condition, although it is also common in later years
with around 3% of the US adult population having AD.
Proof-of-principle: a study which demonstrates an effect which results in a
biological change which is closely related to the proposed mechanism of
action and known to be associated with disease activity in patients.
Proof-of-principle can be carried out in patients or healthy volunteers
provided that a clear link can be established between the effect and the
target disease.