 |
Genophrenix LtdBiofusion plc (AIM:BFN) ("Biofusion") announces the creation of Genophrenix Limited ("Genophrenix"), a new spin-out company from its pipeline agreement with the University of Sheffield. Genophrenix has been formed to capitalise on the discovery of specific proteins that are involved with a key biochemical pathway implicated in a range of neuropsychiatric diseases, including schizophrenia. The initial discovery of these new proteins was the result of work carried out by Dr Jamal Nasir, of the University of Sheffield Medical School. Biofusion owns a 60% shareholding in the company. Schizophrenia is a severe, debilitating and chronic brain disorder often affecting young adults below the age of forty. The disease has a major impact on sufferers as it affects the cognitive function of the individuals concerned. As a result, it has been reported that 75% of sufferers cannot maintain a steady job and high suicide rates are a feature of this devastating disease. In the USA, 1% of the population is thought to be affected with only 20% of these patients able to lead a normal life as a result of therapy. The market for drugs to treat schizophrenia is estimated to be worth $14bn. David Baynes, CEO of Biofusion, said: "Genophrenix is the tenth company in our portfolio and demonstrates the excellence of the academic staff at the University of Sheffield. Although this is clearly an early stage company, Genophrenix believes that by targeting specific proteins that are part of the dopamine signalling pathway, implicated in schizophrenia, it can help pharmaceutical companies to meet the need for more efficacious, less harmful therapeutic medicines for this market." |
