Newhouse firm's funding boost to find treatment for chronic skin disease
BioCity Scotland-based pharmaceutical outfit Alfacyte has received a fresh £250,000 injection to advance development of a topical treatment for psoriasis.
The second-round equity funding has been provided by the Newhouse firm’s existing investors, the EOS Technology Investment Syndicate and the Scottish Investment Bank – part of Scottish Enterprise.
Alfacyte’s goal is to broaden the scope of interferon therapy across a range of therapeutic applications from cancer treatment to autoimmune disease and allergy, and it’s first target is,psoriasis, a chronic, recurring skin disease
Kevin Grainger, founder and gatekeeper of EOS, said: “Our investors have been excited by the results of Alfacyte’s research and the strong patent portfolio it is building up.”