US$100,000 grant win (8861F)
May 04 2011 - 2:54AM
UK Regulatory
TIDMLPX
RNS Number : 8861F
Lipoxen PLC
04 May 2011
4 May 2011
Lipoxen plc
('Lipoxen' or the 'Company')
US$100,000 grant win
Lipoxen (AIM: LPX.L), a bio-pharmaceutical company specialising
in the development of high-value differentiated biologicals,
vaccines and siRNA delivery, receives US$100,000 Grand Challenges
Explorations Grant for Ground-Breaking Research in Global Health
and Development.
Lipoxen announces that it is a Grand Challenges Explorations
winner, an initiative funded by the Bill & Melinda Gates
Foundation. Dr David Moss, Director of Project Management at
Lipoxen, will pursue an innovative global health and development
research project, titled "Development of a non-live liposomal polio
vaccine".
Grand Challenges Explorations (GCE) funds scientists and
researchers worldwide to explore ideas that can break the mould in
how we solve persistent global health and development challenges.
Lipoxen's project is one of 88 Grand Challenges Explorations Round
6 grants announced by the Bill & Melinda Gates Foundation.
"GCE winners are expanding the pipeline of ideas for serious
global health and development challenges where creative thinking is
most urgently needed. These grants are meant to spur on new
discoveries that could ultimately save millions of lives," said
Chris Wilson, Director of Global Health Discovery at the Bill &
Melinda Gates Foundation.
To receive funding, Lipoxen and other Grand Challenges
Explorations Round 6 winners demonstrated in a two-page online
application a bold idea in one of five critical global heath and
development topic areas: polio eradication, HIV, sanitation and
family health technologies, and mobile health.
This project aims to create a novel highly efficacious polio
vaccine formulation by utilising Lipoxen's ImuXen(R) technology to
entrap and deliver polio antigens to the immune system using
liposomes. ImuXen(R) vaccines characteristically induce rapid onset
immunity using lower doses of antigen and after fewer
administrations.
Commenting on the grant award, M. Scott Maguire, Lipoxen's Chief
Executive Officer, said: "For our proposal to be selected as one of
88 to be funded from more than 2,500 applicants is testament to the
innovative nature of our approach. A next generation non-live polio
vaccine will be extremely useful in support of the ongoing Global
Poliovirus Eradication Initiative. We believe that the application
of our ImuXen(R) technology to this project will result in a highly
effective vaccine displaying the optimum immunological
characteristics associated with both the current inactivated and
live polio vaccines. Furthermore, as we will only employ
recombinant antigens we have removed all of the risks associated
with vaccine production using live poliovirus. This should make
manufacturing both easier and more economical."
Contact Details
Walbrook PR Ltd +44 (0)20 7933 8780
Paul McManus (Media Enquiries) Mob: 07980 541 893
paul.mcmanus@walbrookpr.com
Paul Cornelius (Investor Enquiries) Mob: 07866 384 707
paul.cornelius@walbrookir.com
About Grand Challenges Explorations
Grand Challenges Explorations is a US$100 million initiative
funded by the Bill & Melinda Gates Foundation. Launched in
2008, Grand Challenge Explorations grants have already been awarded
to nearly 500 researchers from over 40 countries. The grant program
is open to anyone from any discipline and from any organization.
The initiative uses an agile, accelerated grant-making process with
short two-page online applications and no preliminary data
required. Initial grants of $100,000 are awarded two times a year.
Successful projects have the opportunity to receive a follow-on
grant of up to US$1 million.
About Lipoxen
Lipoxen plc is a biopharmaceutical company focused on the
development of new and improved biologic drugs and vaccines.
Lipoxen has three proprietary patented technology platforms:
1) PolyXen - for extending the efficacy and half life of
biologic drugs
2) ImuXen - for creating new vaccines and improving existing
vaccines
3) SiRNAblate - for the delivery of siRNA
Lipoxen's technology is designed to improve the efficacy,
safety, stability, biological half-life and immunologic
characteristics of its products.
Lipoxen has multiple drug and vaccine programmes in development.
Two products are in clinical development, SuliXen, a long acting
insulin and ErepoXen, a long-acting erythropoietin (EPO). Lipoxen's
preclinical pipeline includes vaccines against HIV, multiple
sclerosis and influenza and an exclusive license deal with Baxter
Healthcare for blood coagulation drugs.
The Company has a low-risk business model and out-licenses its
proprietary technologies to biopharmaceutical companies that have
strong manufacturing and marketing capabilities. Lipoxen currently
has commercial agreements with some of the world's leading
biotechnology and pharmaceutical companies including Baxter,
Schering-Plough, the Serum Institute of India Limited, Genentech,
and Genzyme. Furthermore, Baxter, the Company's third largest
shareholder, and management led the GBP2.9 million fundraising that
the Company announced in May 2009. This fundraising was followed up
by a GBP1.2 million placing in April 2010 which was led by the
Company's management team.
Lipoxen, which was founded in 1997, trades on the AIM Market of
the London Stock Exchange under the ticker symbol LPX. More
information can be found at the Company's website:
www.lipoxen.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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