Fusion IP plc (Fusion) was established in 2002 to commercialise university-generated intellectual property. It has long-term exclusive agreements with two of the UK's leading research-intensive universities, the University of Sheffield and Cardiff University, giving it exclusive access to all the IP generated by their research departments. These exclusive agreements enable Fusion to identify world class IP and turn it into a commercial opportunity, either through the creation of a start-up company or a licence.
Fusion IP says phase 2 trial for Diurnal's Chronocort underway
The first patient has been enrolled into the CATCH trial, which is aimed at people suffering from reduced levels of the key hormone cortisol (hydrocortisone).
Chronocort is a modified release therapy that delivers hydrocortisone in a manner that mimics the body's normal circadian rhythm (the body's natural 24 hour hormone cycle).
Diseases that stem from cortisol deficiency include congenital adrenal hyperplasia and adrenal insufficiency, each of which requires life-long treatment.
The CATCH trial is a Phase 2 study in patients suffering from congenital adrenal hyperplasia and is being run by the National Institute of Health (NIH), Maryland, US. The estimated completion date is mid-2013.
Chronocort has already received two related orphan drug designations from the European Medicines Agency, which affords ten years of market exclusivity after the grant of marketing authorisation in Europe.
Peter Grant, Fusion IP's operations director said: "The start of Phase 2 trials is tremendous news for Diurnal and we remain very excited about Diurnal's prospects. Successful completion of the Phase 2 trial will be a significant value uplift event."
Martin Whitaker, Diurnal's chief executive, added: "The Chronocort programme remains a key focus for Diurnal and, if the results from the current trial are positive, we expect to progress the product to late stage clinical trials in Congenital Adrenal Hyperplasia and Adrenal Insufficiency."
Fusion IP specialises in the commercialisation of technology developed at Sheffield and Cardiff universities.
It shareholding in Diurnal is 43.1%.