Research firm first to get cash from funding scheme

Aug 6 2008 by Alistair Houghton, Liverpool Daily Post

A COMPANY researching ways of tackling superbugs such as MRSA has won the first investment from a new funding scheme to turn academic ideas into business successes.

The Proof of Concept Funding Programme, a partnership between Alliance Fund Managers (AFM) and Liverpool John Moores University, has invested £82,000 in Pharmalucia.

The company will progress the work of academic Dr Mark Wainwright, Reader in Antimicrobial Chemotherapy in the School of Pharmacy and Biomolecular Sciences at LJMU.

He has been researching new ways to tackle microbes such as MRSA and has identified new compounds that could offer more effective treatments. Superbugs are estimated to claim the lives of 5,000 people a year in the UK.

The funding will be used to help him see develop new treatments.

Dr Wainwright said: “After decades of wonder drugs, we can no longer guarantee that antibiotics will cure bacterial disease. Deaths resulting from infections are increasing because of drug resistance. Common disinfectant drugs are becoming less and less effective.

“Thanks to this funding, we will be able to take the research to the next stage, testing the effectiveness of the novel compounds identified against different microbes. Once this has been proven, we will be one step closer to early licence opportunities.”

The Proof of Concept programme aims to finance the early development of new technological ideas that could be seen as high-risk propositions by potential investors.

AFM and LJMU hope it will create many commercial businesses from LJMU’s research portfolio. Up to £120,000 in funding is available for each project.

AFM managing director Mark Fuller said: “Knowledge-based businesses are a vital part of our economy and it is crucial they have access to funding and advice to enable them to develop and grow.”

LJMU’s commercialisation manager, Di Burbidge, said: “Our academics don’t want to wait months for a decision on whether they should publish, patent or protect their work and thanks to this funding arrangement they don’t have to.

“The fact that we have been able to launch a company as exciting as Pharmalucia Ltd, just two months after the Proof of Concept funding came on stream, proves the system works, and with another two companies already in the pipeline, it clearly shows the massive commercial potential of LJMU’s research.”

alistairhoughton