PredictImmune's £10m Series B round boosts IBD treatment
The crucial 12 months after diagnosis is a window of opportunity for disease treatment, says Paul Kinnon, CEO of PredictImmune, whose £10million Series B funding round has just closed.
Babraham Research Campus-based PredictImmunedevelops pioneering prognostic tools for guiding treatment options and improving patient outcomes in immune-mediated diseases. Its first product, PredictSURE IBD, is the world’s first, truly validated and CE-marked prognostic test for guiding treatment options in inflammatory bowel disease, or IBD, which includes Crohn’s disease and ulcerative colitis.
“We are now conducting tests in partnership with Addenbrooke’s,” Mr Kinnon told the Cambridge Independent. “It’s a very strategic challenge, working with gastroenterologists, and we’re now building a leadership position.
“Our first test is for IBD, the second will be lupus. PredictSURE offers a 12-month window to report on the progress of the disease. In those 12 months the condition will either flare or there will be no activity. The report goes to the doctor, who decides if the patient needs steroids or anti-TNF therapy.
“If they receive better treatment in the critical early period the long-term prognosis will be better.”
Anti-TNF (tumour necrosis factor) therapy was first approved for use in Crohn’s disease in 1998, and has changed the treatment paradigm.
The Series B funding success reflects the success of the company to date and extends the strong relationship PredictImmune enjoys with existing investors Parkwalk and Cambridge Enterprise. An expectation of further growth and global commercial development also attracted two new major investors, BGF and Cambridge Innovation Capital.
Alastair Kilgour, co-founder and partner of Series A leader Parkwalk, said: “Parkwalk are delighted to continue to support the ground-breaking technology from Dr Ken Smith’s laboratory at Addenbrooke’s, which enables the prognosis of IBD and an earlier clinical decision as to the correct drug treatment. This will significantly improve clinical outcomes and enhance patient welfare.
“The team at PredictImmune have done a magnificent job in productising the technology and are now taking the tests on their commercial pathway. We look forward to seeing the platform extended to benefit clinical outcomes in further diseases.”
Michael Anstey, partner at Cambridge Innovation Capital, added: “We are thrilled to work with our colleagues at Cambridge Enterprise to support one of Cambridge’s most promising businesses. PredictImmune is at the forefront of personalised medicine, enabling improved treatment choice for patients with immune-mediated diseases. We are especially excited about their lead product PredictSURE IBD, which has the potential to end ‘trial-and-error medicine’ for patients suffering with IBD.”
PredictImmune spun out of the University of Cambridge in 2017. The US operation will involve hiring expertise rather than being a “bricks and mortar” development.