Camallergy raises £815k to boost production of ground-breaking peanut allergy treatment
Cambridge-based Camallergy has raised over £800k in angel investment to quadruple manufacturing capability of its ground-breaking peanut allergy drug and undertake studies required before planned phase 3 trials in 2018.
The company has raised £815k from angel investors, of which £455k was on the crowdfunding platform SyndicateRoom. The lead investor, Jonathan Milner, is an experienced entrepreneur and business angel with a passion for supporting UK life-science and high-tech start-ups.
In addition to the investment, revenue from clinical treatments have helped Camallergy invest in drug development.
Camallergy’s lead product, CA002, is an innovative oral immunotherapy drug which desensitises patients by gradual exposure to increasing amounts of characterised peanut allergens. It involves seven short treatment visits and two years of easy, daily administration.
In the company’s phase 2 study, children saw their thresholds for an allergic reaction increase by a staggering 25-fold. This means that 84–91% of those studied could tolerate eating peanuts after six months’ treatment.
The funding will allow manufacturing of a newly devised formula, developed over the last few years. It will be complemented by a suite of in-house and customised pharmaceutical quality controls which will ensure the necessary throughput and quality for phase 3 clinical trials.
Camallergy was set up by world-leading allergy experts Dr Pam Ewan and Dr Andrew Clark and CEO Sherden Timmins.
Dr Andy Clark said: “We are delighted to receive backing from Jonathan, and we are now able to take Camallergy into the next exciting phase of development.
"Our oral immunotherapy demonstrated strong results in phase 2 showing this method is the only real option to treat people with peanut allergy. Our straightforward course of therapy means patients spend less time in clinic, making it easier and more convenient for families.”
Jonathan Milner said: “Camallergy’s biggest strength is that, unlike other start-up companies, it has real-world clinical evidence that its treatment regimen and methodology works. This success brings huge confidence to me as an investor that the product that Camallergy is developing will be successful and effective.”
Dr Pam Ewan added: “This is fantastic news for Camallergy and patients and brings our development programme, which is backed by real-world data from the Cambridge Peanut Allergy Clinic, a step closer to a licensed treatment for peanut allergy.”
The company now aims to raise venture capital to fund multinational phase 3 studies starting in 2018 towards medicinal product licences for both children and adults.
Camallergy is a spin-out from Cambridge University Hospitals and continues development of the treatment and support the Cambridge Peanut Allergy Clinic.