Spin-out Keapstone Therapeutics receives further funding

News
2017-11-28

Based on the hits generated by the European Lead Factory, Dr Richard Mead, University of Sheffield, started the spin-out virtual biotech Keapstone Therapeutics, a world-first type of partnership between Parkinson's UK and the University of Sheffield. Keapstone Therapeutics aims to develop a new therapy for motor neurone disease (MND/ALS) and/or Parkinson’s disease.

Yesterday, Parkinson’s UK announced that they are investing an additional 320,000 GBP (360 k€) in the joint venture. At the launch, Parkinson’s UK allocated 1 million GBP (1.2 M€) to be paid out in tranches under the condition that the project met predefined milestones at certain go/no-go points. Three months ago, just six months after the launch, the joint venture passed the first of these milestones. The rapid development and confidence the parties show for the programme is further evidence of the quality ELF delivers. 

Dr Jan Kulagowski, Drug Discovery Manager at Parkinson’s UK, comments:

‘We’re pleased to announce this additional funding support for Keapstone Therapeutics which demonstrates our continued commitment to this promising programme which holds real potential for delivering potential new treatments for Parkinson’s.’

Dr Richard Mead stresses the importance of the European Lead Factory compounds that the venture is based on:

‘The high quality, tractable chemical starting points and data that ELF delivered has enabled us to make good progress on the programme and we are delighted that Parkinson's UK is making this further commitment.'

Watch Dr Richard Mead explain more about his collaboration with the European Lead Factory and Keapstone Therapeutics in this video.