Biotechnology company awarded funding

Published: 18 June 2018

MedAnnex Ltd, an Edinburgh-based biotechnology company developing new therapies to treat autoimmune diseases, has been awarded up to £423,000 via the SMART: SCOTLAND programme.

Alongside backing from MedAnnex’s investors, this Scottish Enterprise award will co-fund critical industrial development work for the company’s novel antibody, annexuzlimab, which has the potential to become a ground-breaking autoimmune disease therapy.

We’re delighted that Scottish Enterprise have recognised the huge potential...and have awarded financial support for our development company in Scotland...

Dr Tina Flatau, Managing Director, MedAnnex

 

In most cases, autoimmune diseases are life-changing, with high medical, social and financial burdens. Patients often develop resistance to existing therapies, many of which have serious side-effects, so there is an urgent need for new treatments. 

Jim Watson, Director of Innovation & Enterprise Services at Scottish Enterprise, said: “MedAnnex is a fantastic example of an ambitious Scottish company that’s developing innovative new treatments for patients globally. This award is the latest support we’ve provided to accelerate the company’s growth plans and build its competitive advantage, and we wish the team every success...”

Full story via SBNN news 

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