North West pharmaceutical company Proveca is looking forward to a strong first quarter with two major clinical trials set to begin following key agreements with the European Medicines Agency (EMA).
Proveca, which is based at Sci-Tech Daresbury near Warrington, develops medicines for children with mainly chronic illnesses, and is currently developing medicines in the fields of cardiology, neurology, immunology and pain management.
The company will be launching clinical trials for a new cardiology medication for premature newborn infants, and glycopyrronium a drug designed to combat sialorrhoea, or Chronic Pathological Drooling in Q1. It also hopes to receive the go-ahead from the EMA to investigate the development of new drugs to target heart failure in children in Q1 this year.
The company enjoyed a strong finish to the fourth quarter, taking the title of Start-Up Company of the Year at last year’s Bionow awards. The Bionow Awards recognise and celebrate excellence within the biomedical and life science sectors across Northern England.
John Leake, business development manager at Sci-Tech Daresbury, said: “The BioNow Awards celebrate business growth, competitiveness and innovation, and we were delighted to see Proveca take the title of Start Up of the Year.
“They were very deserving winners on the back of a strong 2013 – including reaching a key milestone in the development of a new drug which promises to create a very positive impact in the lives of children and young people. We’re excited to see the direction the company takes in 2014.“
The awards were one of a number of highlights for the business in 2013, others include the appointment of Chris Brinsmead, the former president of Astra Zeneca UK as chairman, as well as significant public and private sector investment into the business.
Simon Bryson, Proveca Director said: “The company enjoyed a very strong year in 2013 and we’re looking forward to building on this success and growth as we move into 2014. There are a lot of positive developments in the pipeline and we’re looking forward to continuing to grow and develop the business.“
In addition to investment and company growth, Proveca also reached a landmark agreement with the European Medicines Agency (EMA) last year. The EMA’s Paediatric Committee (PDCO) adopted a positive opinion on the paediatric investigation plan (PIP) for the development of a new product designed to combat chronic pathological drooling (sialorrhoea) in children.
The company secured a £2.6 million investment from Albion Ventures in December 2012 and a further £143,000 grant from Biomedical Catalyst, a joint programme from the Technology Strategy Board and Medical Research Council, in August 2013.