Atlantic Healthcare awarded £1.9M (US$2.9M) by the Technology Strategy Board towards the Phase 3 development of Alicaforsen

March 18, 2013

Atlantic Healthcare Limited (“Atlantic Healthcare”) is pleased to announce that it has been awarded a competitive grant of £1.9m (US$2.9m) by the Technology Strategy Board on behalf of the British Government. The money is drawn from the prestigious Biomedical Catalyst Fund. A grant of this size for late stage development is significant.

The grant will contribute to the developmental cost of Alicaforsen’s forthcoming US/EU Phase 3 clinical study in pouchitis. Pouchitis is a condition of Inflammatory Bowel Disease (IBD) that can affect sufferers of ulcerative colitis after colon surgery. There are presently no approved treatments for this debilitating disease, which requires novel approved therapies to enable sufferers to achieve a reasonable quality of life. Alicaforsen has been granted orphan designation in Europe and the United States for treatment of this disease. Following approval alicaforsen would be the first licensed drug for this condition and a first-in-class treatment for IBD.

Read the full press release on Atlantic Healthcare’s website here