ROWETT RESEARCH INSTITUTE LAUNCHES FOURTH SPIN-OUT COMPANY IN FIVE YEARS

NEW TREATMENTS FOR STROKE AND ALZHEIMERS UNDER DEVELOPMENT

AOXtherapeutics Limited has secured funding of £168 000 from the Genomia Seed Fund, enabling it to become the fourth company in five years to spin-out from the Rowett Research Institute in Aberdeen. AOXtherapeutics Limited is developing novel treatments for conditions such as stroke and Alzheimer’s disease.

AOXtherapeutics is developing compounds called therapeutic antioxidants. These compounds are designed to provide the body with additional protection from highly reactive substances called free radicals. Free radicals are normally present in our bodies, and we have natural defence mechanisms to cope with them. In some conditions, such as stroke and Alzheimer’s disease, free radicals are produced in such high numbers that the body’s normal defence mechanisms are unable to cope, and severe damage to organs and cells can occur.

In these circumstances, antioxidants found in the diet (such as vitamins E and C) are limited in their effect and so it is hoped that the therapeutic antioxidants being developed by AOXtherapeutics will better protect key sites in the body against free radical production and attack.

The first generation of compounds produced by AOXTherapeutics has been licensed from the Rowett Research Institute through its knowledge transfer subsidiary Rowett Research Services Limited (RRS). These compounds, which are subject to worldwide patent applications, are aimed at the treatment of stroke. Further compounds are already in development. The first family of compounds draws upon research undertaken at the Rowett by Donald McPhail and Dr Garry Duthie which used various natural plant compounds as the starting point

“The Genomia investment comes at an important time for AOXtherapeutics we have obtained promising results from our initial screening of some compounds and this investment will enable us to undertake crucial formulation and pre-clinical development more quickly to maintain our leading role in this emerging field,” said Donald McPhail, who takes up the post of Chief Scientific Officer of AOXtherapeutics.

Dr Alan Rowe, Chief Executive of Rowett Research Services Ltd welcomed the investment: “AOXtherapeutics Limited is our fourth spin-out in five years, and I think this is a remarkable achievement for the Rowett Institute. It clearly demonstrates that the high quality research being undertaken in the institute has social and economic relevance in the global economy”.

Dr Keith Winton, Genomia Fund Manager, commented: “We view today’s investment as an important milestone both for AOXtherapeutics and Genomia. Having made the fund’s first investment into this technology just over a year ago, today represents another first being our largest investment to date and our first into a spin-out company. Together these show our excitement and enthusiasm with the technology and the management team that brings it together”.

ENDS

Please contact Dr Alan Rowe, CE of Rowett Research Services on 01224 716226, or Donald McPhail, Chief Scientific officer on , or Sue Bird, PR Manager, Rowett Institute 01224 716668, 07711 093417.

Notes for editors:

Free radicals are a by-product of the oxygen we breathe and our body is normally protected by a complex defence system, involving antioxidants such as Vitamins E and C, normally present in our diet.

The latest investment and the first directly into AOXtherapeutics will help to progress further the preclinical development of first family of compounds for stroke; speed the development pipeline and strengthen the management team. Donald McPhail now takes up the post of Chief Scientific Officer and is joined by Scott Johnstone as Chief Executive. Scott has 16 years experience in the life science sector and was a co-founder of YabA Limited an Edinburgh based diagnostics company. Genomia’s investment is concurrent with the appointment of John Pool as company chairman. John has extensive experience of the life science start-ups, most recently IDMoS the Dundee based dental company which he successfully took to AIM in 2005.

The research undertaken at the Rowett by Donald McPhail and Dr Garry Duthie was supported initially by a Scottish Enterprise Proof of Concept Award. Subsequently Donald McPhail has taken the technology forward with support from Royal Society of Edinburgh and RRS. Genomia has also supported preclinical development via RRS.

Rowett Research Services Ltd is the knowledge transfer and technology interaction subsidiary of the Rowett Research Institute. The Company was founded in 1988 and focuses on developing the interface between the scientific and business communities. Further information at www.rowett.co.uk

The Rowett Research Institute, ABERDEEN, AB21 9SB, is an internationally recognised centre of excellence for nutrition research. We undertake research to improve food quality and prevent disease. Further information available at www.rowett.ac.uk
The Rowett Research Institute is sponsored by SEERAD (www.scotland.gov.uk).