- Lead investor is Deepbridge Capital
- Key pre-clinical data on lead peptide JEL3108 a pivotal step in therapeutic development and progression to clinical testing
Greater Manchester, UK – 14 Dec 2022 – Today, Carocell Bio, the anti-inflammation therapeutics company, announced that it has received USD $500,000 (£404,000) in further funding from Deepbridge Capital, an investment firm focused on life sciences, disruptive technologies and renewable energy. The funds will support pivotal pre-clinical testing data for Carocell Bio’s lead anti-inflammatory peptide JEL3108. The candidate peptide-based treatment provides an innovative approach to preventing scar formation after surgery through an anti-inflammatory MAP kinase-inhibiting mechanism, and can also be potentially used to treat severe burns and chronic skin conditions such as atopic dermatitis.
Carocell Bio’s CEO, Dr Mike Davies, said:
“We are pleased to receive this additional funding from Deepbridge Capital to continue pre-clinical testing of our lead anti-inflammatory compound. Skin conditions that are impacted by inflammation, including scarring, can be devastating for patients and can sometimes require life-long care, at significant cost to healthcare systems. We are focused on demonstrating the therapy’s potential to make a positive and lasting change to patients’ lives by addressing inflammation head-on through topical, peptide-based next generation MAP kinase inhibition. This new investment will help us get one step closer to achieving our mission.”
Earlier this year, Carocell Bio recently received approval from the UK’s Health Research Authority (HRA) to test lead candidate proprietary peptide JEL3108 in human burns and reconstructive surgery tissue samples. The company is currently focused on the effective topical application of its proprietary peptides through a nanoparticle-based system. Its clinical collaboration is with world-leading surgeon and researcher Professor Fadi Issa, Associate Professor of Burns and Plastic Surgery at the University of Oxford and Consultant Plastic Surgeon, Buckinghamshire Healthcare NHS Trust.
Deepbridge Capital’s Investment Manager, Ben Carter, added:
“We see significant potential in Carocell Bio’s peptide-based therapy, including improved prognoses and quality-of-life for patients, and potential benefits to society. It is a disruptive technology with the potential to make significant impact in the life sciences and healthcare. We are therefore keen on supporting its ongoing pre-clinical studies, which are being carried out in collaboration with world-class institutions and researchers.”
To-date, the company has received over USD $450,000 (GBP £364,000) in funding from Innovate UK to study the effect of the peptides in burns, in addition to USD $1 million (approx. GBP £808,000) investment from Deepbridge Capital.