Further investment in Asterion

Intellectual property investment company Biofusion has invested a further £265,000 in Asterion, a Sheffield University biotechnology spinout that specialises in hormone therapies.

This brings Biofusion’s investment in Asterion, which is developing a range of novel therapeutic proteins to improve the treatment options for patients with chronic diseases, to £550,000. Using its patented ProFuse therapeutic platform, Asterion is producing long-acting biopharmaceutical products that can be administered at a lower dose, less frequently and with fewer side effects than existing drugs.

The company already has an agreement with the French pharmaceutical company Ipsen to use its platform in the development of a new human growth hormone (HGH) product. Results to date have been very promising and Asterion anticipates that the product will enter Phase 1 trials within the next 12 to 18 months.

Biofusion’s investment in Asterion will be used to accelerate the use of the ProFuse platform on a number of Asterion developed and owned products and to further extend the effectiveness of ProFuse. Following the investment, Biofusion now owns 38 per cent share of Asterion.