LONDON, UK, September 15, 2010 – Immune Targeting Systems (ITS) Limited (“ITS”), one of the leading developers of synthetic vaccines for mutating viruses, today announced the first patient has been treated in itsPhase-I trial with its synthetic universal influenza vaccine (FP-01). Commencement of trials follows receipt of UK Regulatory Authority (MHRA) approval. Over the same period the company brought in £500,000 new investment from Esperante Ventures (UK). This brings total Series-A funding to £14.5 million from our syndicate of investors HealthCap (Sweden), London Technology Fund (UK), Novartis Venture Fund (US & Basel) and Truffle Capital (France).
Carlton Brown, CEO of ITS, commented: “This represents a major achievement and highlights our delivery of important R&D milestones. In less than three years we have taken a novel vaccine concept to the point of starting clinical testing. Furthermore, en route we have developed extensive validation data for our vaccine platform, meriting imminent expansion of our R&D pipeline”.
The FP-01vaccine holds the promise of being able to target all potential seasonal and pandemic influenza-A strains and protect people from severe influenza disease. Current flu vaccines are known to be less effective in key at-risk market segments such as the elderly, chronically ill and young children – where most of the disease burden occurs. Furthermore, this synthetic and thermostable vaccine could represent a major breakthrough to Governments wishing to create longterm ubiquitous vaccine stockpiles