IP Group news 0

IP Group (LSE: IPO), an intellectual property commercialization company, announces that it has funded its first company in partnership with Johns Hopkins University.  Lorem Therapeutics will be focused on developing early-stage therapeutics, bridging the gap from drug discovery to Investigative New Drug (IND) status, specifically novel small molecule prodrugs for cancer indications.

 

Lorem is led by Professor Barbara Slusher, PhD. MAS, who has an extensive track record of bringing lead compounds from drug discovery through clinical development. Dr. Slusher directs Johns Hopkins Drug Discovery, the largest integrated drug discovery program at the University, with a veteran team of medicinal chemists, assay developers, pharmacologists, toxicologists, and pharmacokinetic and drug metabolism experts. The team is engaged in identifying novel drug targets arising from the faculty’s research and translating them into new drug therapies for clinical development.

 

Christy Wyskiel, the head of Johns Hopkins Technology Ventures, the university’s intellectual property administration center, said: “The relationship Johns Hopkins has forged with IP Group aims to facilitate one of our institution’s longstanding missions - to bring the benefits of discovery to the world. The support provided to early-stage technologies through this model of venture creation has the potential to accelerate the transformation of promising research into impactful products and services.”

 

Michael Burychka, Chief Executive Officer, IP Group North America, said: “We are excited to announce the first investment from our collaboration with Johns Hopkins University.  IP Group is committed to supporting scientific discovery and is thrilled to work with Dr. Slusher. We look forward to building upon our relationship with Johns Hopkins and continuing to invest in novel science being developed at the university.”

 

Accompanying the initial funding, Lorem Therapeutics will receive support from FastForward, a coordinated suite of resources managed by Johns Hopkins Technology Ventures that provides more than 100 startups with access to affordable space, services and funding opportunities.

 

Dr. Barbara Slusher said, “I am delighted to have the support of IP Group, Johns Hopkins Technology Ventures and FastForward as we launch this exciting venture. IP Group’s commercial expertise and initial funding as well as FastForward’s ongoing support will play a critical role in helping us accelerate and enhance our drug discovery efforts around critical cancer indications.”

 

For more information, please contact:

 

IP Group, North America	www.ipgroup-inc.com
Frank De Maria [email protected]	+1 347 647 0284
IP Group plc	www.ipgroupplc.com
Liz Vaughan-Adams, Communications [email protected]	+44 (0) 20 7444 0062/+44 (0) 7979 853802

 

Notes for editors

 

About IP Group

 

IP Group is a leading intellectual property commercialization company focused on evolving great ideas from its partner universities into world-changing businesses. The Group pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital, scientific insight and the supporting infrastructure.

 

In North America, IP Group works in close partnership with a select group of universities and U.S. Department of Energy Laboratories to identify groundbreaking technologies, rooted in hard science, which have the most promising commercial potential. 

 

IP Group, which is listed on the Main Market of the London Stock Exchange under the symbol IPO, has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology.

 

For more information, please visit our US website at www.ipgroup-inc.com or our corporate website at www.ipgroupplc.com.

 

ENDS