The latest Business updates from the science industry
by Heather Hobbs £1.27 Million Funding to Progress Intracellular Drug Delivery
UK biotech Vitarka Therapeutics, focused on revolutionising the market for non-viral drug delivery technology, has raised £1.27 million in equity from venture capital fi rm SOSV, the UK Innovation & Science Seed Fund (UK12S) and grant funding from Innovate UK.
Founded in 2021 by Dr Vineeta Tripathi, the start-up is developing combination medicines using RNAi therapies and a non-viral drug delivery platform targeting solid tumours. The new funds will accelerate the technology for pre-clinical validation, while also progressing pharmacokinetics studies and improving technical processes for large-scale manufacturing.
Dr Tripathi has more than 15 years’ experience in drug development, including at Boehringer Ingelheim and Ipsen Bioinnovation. Professor Peter Simpson who was the founding CSO of Medicines Discovery Catapult, UK’s Centre for Excellence, has joined Vitarka’s team as Chief Strategy Offi cer.
Vineeta Tripathi
The only UK company successfully selected on the 5th cohort of the SOSV’s IndieBio New York program IBNY5, it raised £250,000 from non-dilutive funding and backing from Discovery Park’s investment fund, Discovery Park Ventures, during the fi rst six months.
“It has just been a year since we defi ned our product so to raise such a substantial amount within this timeframe is remarkable,” said Dr Tripathi. “Our new investors bring a range of complementary expertise to Vitarka and we are delighted to be working with them. We thank them, together with
Innovate UK, for all their support.”
Stephen Chamber, Partner and MD of IndiBio New York, part of SOSV said: “At IndieBio, we look for companies that want to make a difference in the world and have the passion and skills to deliver on their dreams, and we found that in abundance with Vitarka Therapeutics.
“We are excited about this investment as it represents a unique opportunity to contribute to the advancement of medical treatments and improve patient outcomes. The RNAi and non-viral drug delivery space is full of untapped potential and we are confi dent that Vitarka’s unique approach will unleash the full power of this emerging class of therapeutics. We are thrilled to continue supporting Vitarka and look forward to being a part of their growth and success.”
Hassan Mahmudul, Investor, UKI2S and Future Planet Capital added: “Delivering RNA therapeutics into the right
tissues without off-target toxicity is a major problem faced by the Pharma industry. That is why we are excited to back Vitarka and their unique approach to drug delivery. Their development of a novel platform technology has the potential to provide a solution which safely combats tumours and we look forward to continuing our partnership with them.”
More information online:
ilmt.co/PL/4Vlo 60179pr@reply-direct.com
Advancements in Hydrogen Cooling Technology
Lauda, the global leader in temperature control technology, is participating in the Horizon Europe-funded research project RHeaDHy. The project aims to develop innovative, high-performance solutions for faster hydrogen refuelling in heavy-duty applications. With the European Union contributing almost €4 million in funding, the project’s ultimate goal is to reduce carbon dioxide emissions from freight transport using hydrogen-powered vehicles. To achieve this, refuelling trucks and similar vehicles with 100 kg of hydrogen within ten minutes is targeted, requiring high-pressure refuelling that generates signifi cant heat. Lauda, as part of a consortium of European partners, will develop a high-performance cooling system to address this challenge. The project is expected to run until early 2027, with near-series technology available for installation at two locations in Germany and France.
Lauda has been a strong partner to hydrogen refuelling station producers and operators since 2015, delivering numerous systems to industry leaders. These include SUK 350 L process cooling units for hydrogen cooling during
refuelling, and the Ultracool line circulation chillers for electrolyser cooling during hydrogen production, both of which are produced in large quantities. With a forecast of around 3,000 additional hydrogen refuelling stations by 2030 in Europe, Lauda is preparing to signifi cantly expand its production capacities to meet the growing demand. The Ultracool series has already been redeveloped to be more compact, powerful, and energy-effi cient, with several new models set to be launched later this year. The Ultracool product line, which is produced serially, can cover cooling capacities of up to 240 kW.
Through the RHeaDHy project, Lauda reaffi rms its expertise in the fi eld of hydrogen cooling, and its commitment to innovation and development towards a sustainable future.
More information online:
ilmt.co/PL/e14j 60230pr@reply-direct.com
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