Fusion spin-off secures research partnership deal
FUSION, the Sheffield firm that turns academic research into business, said today that fellow Sheffield University spin-out Asterion has signed a research deal with one of the world’s leading biotechnology companies.
Fusion has a 38% stake in Asterion which is developing a range of therapeutic proteins that will improve the current treatment options for patients with chronic diseases.
Asterion has signed a research and option agreement with Genzyme to develop a long-acting form of a non-cytokine protein.
Under the terms of the agreement, Genzyme will gain access to elements of Asterion’s intellectual property portfolio surrounding a specific protein target and will perform research work designed to look at the creation of a long-acting and potent version of an undisclosed protein for conditions including short stature and acromegaly – a disorder caused by excess production of growth hormone.
Dr Raymond Barlow, chief executive of Asterion said: “We are pleased to have signed this agreement with Genzyme, which is one of the largest and most experienced global biotechnology firms. This deal is part of our strategy of securing corporate partnerships on certain protein targets whilst, at the same time, seeking funding for the clinical development of other assets where we believe we can grow value organically.
“Asterion’s technologies can potentially be applied to a range of cytokine and non-cytokine targets and we hope to be able to exploit the breadth and depth of our portfolio to build value for our investors.”
Founded in Boston in 1981, Genzyme has grown from a small start-up to $3bn turnover company which employs 10,000 people in locations spanning the globe.
Fusion recently changed its name from Biofusion to reflect its enlarged business, which includes more than 20 portfolio companies based on intellectual property (IP) from clean technology energy and renewables to engineering and medical technology.
