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Beachcombing for new ways to tackle hospital superbug

27/02/2003

"Funding by NESTA is an excellent first step to enable the company to expand its portfolio of products in addition to attracting further commercial interest."

AquaPharm was founded in 2000 and is headed by Dr Andrew Mearns Spragg, an entrepreneurial scientist with over seven year's experience in marine biotechnology research and a recipient of a Royal Society of Edinburgh Fellowship in Enterprise. He is joined by Dr Jonathan David, an expert in the physiology of both terrestrial and aquatic species, and Dr Kathryn Gronow, an experienced research scientist specialising in marine biotechnology with particular expertise in oceanography. The company is chaired by Dr Ron James, an experienced life science professional with a proven track record in raising equity and running a biotech business from start-up to quotation.

AquaPharm is one of the first UK companies dedicated to marine drug discovery, providing new approaches to 'bio-prospecting' and commercialisation of novel marine compounds. To date, only 5% of the marine environment has been described and it is estimated that between 500,000 - 5,000,000 species (mostly micro-organisms) remain to be discovered, representing a huge opportunity in the unearthing of new drug leads. By utilising its specialist knowledge of culturing and fermentation of marine bacteria and fungi, AquaPharm hopes to identify new drugs capable of meeting unmet clinical needs of the pharmaceutical and industrial markets.

A key focus of AquaPharm's business is to identify novel compounds active against the hospital "superbug" MRSA (Methicillin Resistant Staphylococcus Aureus) and in particular to develop its first lead compound active against this bacterium. With resistance to conventional antibiotics increasing, in a market worth £25 billion globally, AquaPharm aim to utilise their position through securing development partnerships with pharmaceutical companies.

This new venture will also fulfil a particular niche as EU legislation is making it harder to pass synthetically produced compounds into human feed additive markets, favouring naturally derived compounds. Public demand also drives manufacturers of cosmetic and feed products to contain natural health giving supplements (anti-oxidants). Very few of these can be chemically synthesised or produced cost effectively in sufficient quantities biologically. However AquaPharm is developing technology designed to make natural production of these compounds economically feasible.

With support from NESTA's Invention and Innovation programme, over 1 year, AquaPharm will be able to develop a marketing strategy, develop its science base and secure vital intellectual property rights making it better placed to raise further risk capital.

Dr Andrew Mearns Spragg said: "Funding by NESTA is an excellent first step to enable the company to expand its portfolio of products in addition to attracting further commercial interest. The discovery process is very exciting and our technologies and knowledge of the marine biosphere will enable us to find products with a wide range of applications, such as cancer and cardiovascular therapeutics."

Jeremy Newton, NESTA's Chief Executive, said: "NESTA is delighted to be supporting such an innovative scientific project, which, if successful, could bring huge benefits both commercially and socially. We were set up to give vital support to early stage ideas, giving them a firmer footing on which to build - these very ideas could pave the way for the future."

Currently located in the Biotech belt south of Edinburgh, AquaPharm is seeking to raise further funds of up to £2 Million to progress its first marine derived antibiotic drug active against drug resistant MRSA through the clinical development process. In addition, this funding will also allow the continued development of its marine science base and develop its IP portfolio from its expanding microbial library.