Briefs: CamiSemi raises an extra $8m in round C funding; Alizyme US partner starts Phase 2 clinical trials for ulcerative colitis drug
CamSemi said today it had extended its C round funding to bring the total sum raised to £17m since October last year.
It said BankInvest Group is taking an $8 million equity stake through its New Energy Solutions VC fund and has become the second cleantech investor to back the its technologies, products and approach.
Carbon Trust Investments joined as CamSemi’s first shareholder focused on clean energy technologies when the C round funding - led by 3i and existing shareholders Scottish Equity Partners and TTP Ventures - was announced in October.
CamSemi, Cambridge Semiconductor, is developing sophisticated chips that will allow manufacturers to introduce cost-efficient mains-connected converters and battery chargers that are smaller, cheaper and more power efficient than existing solutions.
The company’s first breakthrough products were introduced at the end of last year and new lower cost, more efficient supplies for high volume consumer products are now in full-scale production. Two further controllers were launched in April targeting the low power cordless phone and audio markets; two major markets still dominated by linear power converters that typically waste about half the power they consume.
CamSemi CEO David Baillie (pictured) said: “The additional funding will help support our ongoing product development programmes and allow us to further strengthen our sales and support resources for the world-class products that we have launched, as well as those still in the pipeline.”
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Alizyme plc said that Prometheus Laboratories Inc, its partner in North America for COLAL-PRED, has started clinical development in the US with a Phase II study for the treatment of ulcerative colitis.
The trial is a multi-centre, randomized, double-blind, placebo-controlled, parallel design, dose ranging study in approximately 200 patients.
Alizyme is developing COLAL-PRED for Europe. Recruitment into the current EU Phase III registration clinical trial in approximately 800 patients with active moderate-to-severe ulcerative colitis completed in 2007 and headline results are expected to be reported in July. Successful results from this EU Phase III trial would allow a Marketing Authorisation Application to be submitted for the EU in Q4 2008.
CEO Tim McCarthy said: "The commencement of clinical activity in the US for COLAL-PRED is a key milestone in the development and commercialisation of this product for the global market.”
20 May 2008
