Guest of honour Life Sciences Minister George Freeman visits Magnus at UCL to experience its innovative approach to advancing ground-breaking bio-medical research
Magnus Life Science is today celebrating its unique collaboration with University College London (UCL), one of the world's leading universities, to advance bio-medical research and bring real innovation to areas of high unmet medical need.
Magnus' relationship with UCL is a fundamental part of the Company's strategy. Through a 'spin-in' approach and industrial collaboration, the Company's operational and R&D teams are located within UCL with renowned experts who are practising clinicians working closely with an experienced management team to take the academic, commercial and clinical lead on projects.
Magnus has previously announced that it raised £15.5 million to advance five therapeutic programmes. The Company's portfolio is based around a central understanding of blood flow and its programmes include a new bio-degradable, bio-magnetic stent; a treatment for placental insufficiency and a treatment to prevent reperfusion injury and the development of chronic heart failure. Beyond the £15.5 million committed seed-funding, two of its programmes are further supported with European Commission Framework 7 (FP7) grants totalling €11.5 million. Two of Magnus' lead programmes are expected to enter the clinic during 2015.
Life Sciences Minister George Freeman said, "My mission as the UK's first Minister for Life Sciences is to accelerate access for NHS patients up and down the country to 21st century medical innovations. The Magnus Life Science collaboration with UCL will play a key role in developing and commercialising our world class university research."
"With Life Science companies and scientists working closely together, this collaboration has the potential to turn knowledge into real products that could benefit patients in therapy areas such as cancer and diabetes."
Magnus Life Science's Chief Executive, Dr David Campbell, said, "It is a great endorsement of our model that Life Sciences Minister George Freeman is here with us today to celebrate our collaboration with UCL. By creating a 'spin-in' company and embedding ourselves within the University, we believe many of the barriers between the academic and commercial worlds are broken down; scientific innovation is nurtured and we can progress our programmes more effectively."
Raymond MacAllister, Director Division of Medicine at UCL said, "We are very pleased to be involved in this collaboration with Magnus Life Science. Co-location of Magnus employees with academics at UCL has helped to create a trusting partnership for the development of new therapies for patients that are based on discoveries made at UCL. This is clear evidence that UCL is open for business."