Member Article

Breakthrough for University of Sheffield spin-out business

Sheffield-based Fusion IP (AIM: FIP), the university commercialisation company that turns world-class research into business, has announced a major breakthrough for its portfolio company, Diurnal.

Diurnal, a spin-out from the University of Sheffield, has received approval for a Paediatric Investigation Plan from the European Medicines Agency (EMA) for a new formulation of hydrocortisone – Infacort.

Diurnal is developing a novel approach to drug delivery that will help patients suffering from reduced levels of the key hormone cortisol (hydrocortisone).

Its lead drug Chronocort is currently in a Phase 2 study at the National Institute of Health (US).

Chronocort has already received two related Orphan Drug designations from the European Medicines Yorkshire-based developers Rushbond Group and Advent Developments have partnered up to deliver a new scheme, Bootham Green, developing 38 new homes in Shipton Street, Bootham.

Infacort is being developed by Diurnal and its partners under the EU collaborative research programme – “Treatment of Adrenal Insufficiency in Neonates (TAIN)”. The programme will, for the first time, create a regulatory-approved paediatric version of hydrocortisone.

Peter Grant, operations director of Fusion IP, commented: “This is a major regulatory hurdle that has been successful overcome by Diurnal and the TAIN Consortium. Infacort now has a clear route to obtaining market authorisation in Europe.”

Fusion owns a 43% shareholding in Diurnal.

This was posted in Bdaily's Members' News section by Mark Lane .