Biomed start-up seeks £1.8m for Alzheimer’s treatment

A START-up bio-medical company is exploring whether a treatment for Alzheimers can be found by re-positioning a remedy for Parkinsons Disease.

Manchester Science Park-based PharmaKure, was spun out last month from The University of Manchester.

Initially backed by its technology transfer arm, UMIP, it is hoping to raise £1.8m to finance its research efforts over the next three years.

Alzheimer’s disease is the most common form of senile dementia, affecting more than 15 million people worldwide.  With increased life expectancy and an aging population, this number is set to rise considerably.

PharmaKure, which launched in December at the World Drug Repositioning Congress in the US, has patented its first drug, PK-048, for the treatment of Alzheimer’s. It is now looking for investment and to form partnerships with other business in the sector to fund drug library screening, pre-clinical and early phase human trials.

PK-048 was first discovered in the 1980s, as a drug candidate for Parkinson’s Disease. It has not ever been tested for treatment of Alzheimer’s, but previous data from animal trials have shown that the drug is non-toxic and crosses the blood-brain barrier in primates, a crucial requirement for an Alzheimer’s drug.

Chief executive Dr Farid Khan, a former employee with pharma giant GSK, said: “The potential for PK-048 to help alleviate the symptoms and potentially to cure Alzheimer’s disease is really exciting.

“It is fantastic to now be in a position with the company to move towards commercialisation phase with a view to licensing and forging investment partnerships.

“We are seeking £1.8m to fund PharmaKure for three years in Manchester. At the end of this period, we will have a portfolio of patented Alzheimer’s disease drugs, ready for efficacy trials in humans,  with an estimate market value of £100m.”

Manchester Science Park chief executive, Rowena Burns, added: “We are extremely pleased that PharmaKure has chosen to locate at Manchester Science Parks and will be working closely with PharmaKure to make sure the company maximises the opportunities that locating at MSP provides.”