TIDMFIPP
Frontier IP Group plc
20 January 2020
RNS Reach
AIM: FIPP
20 January 2020
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - The Vaccine Group raises GBP680,000 to
accelerate development of novel vaccine technology
Frontier IP, a specialist in commercialising university
intellectual property, today announces that portfolio company The
Vaccine Group Limited ("the Company" or "TVG") has raised
GBP680,000 through its first equity funding round.
The proceeds will be used to accelerate development and expand
the range of its novel animal vaccine technology. Targeted diseases
currently fall into two broad areas: zoonotic diseases, such as
Ebola, bird flus and SARs, that jump from animals to animals,
including humans; and diseases, such as African swine fever and
bovine tuberculosis, which impact economically important livestock.
The division between the two varies around the world: bovine
tuberculosis is a direct human health threat in many lower and
middle countries ("LMICs").
The fundraising values the University of Plymouth spin out at
GBP9.5 million, with Frontier IP's 17 per cent equity stake valued
at GBP1.6 million. This value was reflected in Frontier IP's
results at 30 June 2019, announced on 6 November 2019.
TVG's vaccines are based on benign forms of herpesviruses, a
group of viruses that are found in all animals, including humans.
They are created by inserting a non-infectious region of DNA from
the pathogen being targeted into the herpesvirus. This vaccine then
stimulates an immune response against the disease when delivered
into the animal.
The UK, US and Chinese governments have provided grant funding
of more than GBP9 million to programmes involving TVG. They include
projects to tackle:
-- Ebola and Lassa fever, funded by the US Department of Defense
-- Streptococcus suis, an emerging zoonotic disease in pigs that
can be fatal to humans, funded by the UK Department of Health and
Social Care and the Chinese government; and
-- Bovine mastitis, funded by the global bacterial vaccine network Bactivac.
The Company is also developing vaccines to combat:
-- African Swine Fever Virus, a disease currently having a
devastating impact on the swine herd in many parts of the world,
particularly China; and
-- Bovine tuberculosis, seen as a major animal health threat in
the UK and to human health in LMICs.
TVG Founder and Chief Scientific Officer, Associate Professor Dr
Michael Jarvis, said: "This initial round of equity funding
provides an exciting opportunity to apply this novel vaccine
platform towards additional livestock pathogens and deadly zoonotic
diseases in humans. Given the much shorter time to market, vaccines
designed to interrupt emergence of zoonotic diseases in animals
before they spread to humans is becoming regarded as a quicker and
more cost-effective way to protect human health."
Frontier IP Chief Executive Officer, Neil Crabb, said: "TVG's
novel technology has huge potential to address some of the most
pressing global health challenges we are facing today. The World
Health Organisation has repeatedly warned about the pandemic threat
from zoonotic diseases. Vaccines also have a critical role to play
in protecting people from antibiotic resistant bacteria. We're
delighted the Company has successfully completed its first funding
round and would like to thank investors for their support."
ENQUIRIES
Frontier IP Group plc www.frontierip.co.uk
Neil Crabb, Chief Executive T: 020 7332 2338
Andrew Johnson, Communications & Investor M: 07464 546 025
Relations
Allenby Capital Limited (Nominated T: 0203 328 5656
Adviser)
Nick Athanas / Nicholas Chambers
ABOUT FRONTIER IP
Frontier IP unites science and commerce by identifying strong
intellectual property and accelerating its development through a
range of commercialisation services. A critical part of the Group's
work is involving relevant industry partners at an early stage of
development to ensure technology meets real world demands and
needs.
The Group looks to build and grow a portfolio of equity stakes
and licence income by taking an active involvement in spin-out
companies, including support for fund raising and collaboration
with relevant industry partners at an early stage of
development.
ABOUT THE UNIVERSITY OF PLYMOUTH
The University of Plymouth is renowned for high quality,
internationally-leading education, research and innovation.
With a mission to Advance Knowledge and Transform Lives,
Plymouth is a *top 50 research university with clusters of world
class research across a wide range of disciplines including marine
science and engineering, medicine, robotics and psychology. A
three-time winner of the Queen's Anniversary Prize for Higher and
Further Education, the University of Plymouth continues to grow in
stature and reputation.
It has a strong track record for teaching and learning
excellence and has one of the highest numbers of National Teaching
Fellows of any UK university. With over 19,000 students, and a
further 9,500 studying for a Plymouth degree at partner
institutions in the UK and around the world, and over 130,000
alumni pursuing their chosen careers globally, it has a growing
global presence. http://www.plymouth.ac.uk
*Research Fortnight Research Power League Table 2014.
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END
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