#UK AstraZeneca and MedImmune pay Germans €25m upfront for respiratory disease edge

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Bahija Jallal

Cambridge headquartered AstraZeneca and its global biologics R & D arm MedImmune, plan to develop new therapies for respiratory disease through a five-year collaboration with Munich-based Ethris GmbH.

The Cambridge UK duo will pay Ethris €25 million upfront, plus research funding; Ethris is also eligible for future R & D milestones, including sales-related royalties on commercialisation.

AstraZeneca and MedImmune will have the option to take exclusive worldwide licences on completion of the research plan for each target within the collaboration.

Ethris is a leader in mRNA-based therapeutics with specific expertise in pulmonary disease. The collaboration is focused on developing new stabilised non-immunogenic modified RNA therapies. mRNA therapies deliver genetic instructions to cells, which drive the target cells to produce selected proteins to help prevent or fight diseases.

Ethris’ proprietary mRNA technology can be targeted to the lungs where it helps to replace, inhibit or augment proteins that are involved in causing or exacerbating respiratory disease. mRNA-based therapeutics may also provide new opportunities to modify the course of the disease or its symptoms.

The collaboration builds on AstraZeneca’s expertise in respiratory disease and inhaled delivery technologies by giving the company’s MedImmune and Innovative Medicines (IMED) biotech units exclusive access to SNIM®RNA technology to develop multiple new targets for investigation in the diseases of asthma, chronic obstructive pulmonary disease, and idiopathic pulmonary fibrosis.

Bahija Jallal (pictured), executive VP for MedImmune, said the deal promised to deliver new options for patients. She said: “Rapid advances over the last decade have made mRNA a very promising tool for clinical application, and we are excited to collaborate with Ethris, whose advanced platform is leading in RNA delivery to the lung.

“This collaboration complements our respiratory science focused on early intervention and disease modification by adding novel ways to target disease mechanisms that cannot be addressed by other approaches currently in our pipeline.”

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#UK Katie Booth: 14 Honest #StartupLife Confessions From A Female Founder

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Here’s 14 things that have happened to everyone living the #startuplife, and an insight into what it’s like to be broke, ambitious and a little bit crazy… (disclaimer: These confessions are to be taken as some tongue-in-cheek, light-hearted relief)

Read more: Startups, Starting a Business, Startup, Women Founders, Female Founders, Women in Business, Entrepreneurship, Women Entrepreneurs, Work-Life Balance, UK Lifestyle News

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#UK Besma Whayeb: Five Reasons Why Ethical Consumerism Is Booming

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The time has finally come: ethical consumerism is going mainstream! It’s exciting to have seen the ethical mindset become a more widely-recognised and accepted concept, and in ways that are natural and low-effort too.

Read more: Ethical, Ethical Business, Ethical Shopping, Consumerism, Business, Organic, Luxury, Startups, Entrepreneurship, Fairtrade, Sourced, UK Lifestyle News

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#UK Stansted back in business with US flights – fifth time lucky?

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Primera Air Boston Stansted

The US is back on the timetable at London Stansted. Daily direct flights from Stansted to New York and Boston will start from April 2018 courtesy Danish carrier Primera Air, which is opening a new base at the Essex hub.

The service will link the Cambridge UK-Stansted-London science & technology corridor with Newark Airport for the Big Apple and Boston’s logan Airport. Primera Air also plans to announce another transatlantic route from Stansted by the end of this summer.

The new routes are terrific news for the Cambridge cluster business community. Scores of local businesses are either US-owned or trading significantly with transatlantic customers; US companies such as Apple, Amazon, Google, Illumina, Gilead and many others are also scaling from Cambridge.

Flights will be operated by new Airbus A321NEO aircraft and include a choice of two cabins, full-service premium and low-fare economy, free Wi-Fi and onboard charging points.

Primera Air will be the first airline for nine years to fly scheduled services to the US from Stansted.

Four airlines have tried to establish a Stansted-US service but only Continental – hit by 9/11 three months in – could claim ill-fortune. The last of the pretenders, American Airlines, nipped in, took out two rivals, and promptly pulled out again but had cleared a pitch for a future day – or so it assumed.

Primera Air president and chairman Andri Ingolfsson said: “We are very proud to announce our new base at London Stansted and routes to the US. With our brand new Airbus A321NEO aircraft, we are opening routes previously traditionally served only by wide-body aircraft. 

“With unmatched efficiency of these new-generation aircraft, we will be able to offer unprecedented prices to our passengers from London Stansted to the USA. At the same time, we are very proud to be offering a low-fare/high quality product and service concept, that will be perfect both for leisure and business travellers.”

Andrew Cowan, Stansted’s chief executive added: “We’re thrilled Primera Air has chosen London Stansted as its UK base for these exciting and innovative new long-haul services to the USA.

“We know from our customers that there is enormous demand for flights to New York and Boston from London and the East of England, so the arrival of Primera Air is fantastic news for both business and leisure passengers wanting great value, excellent service and the convenience of flying transatlantic from their local airport.”

Flights to both destinations went on sale today (July 20) with prices starting from £149 one-way inclusive of all taxes, fees and charges. 
Visit www.primeraair.com for more information.

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#UK Alexandra Johnson: Five Reasons Why Self-Employment Is The Way Ahead

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In these uncertain economic times, striking out on your own may not seem like the most sensible option. But what if you have a product that has to come to market, or an idea that is so innovative it has to be seen through to fruition? What if you’re simply like my friend who started his own Indian takeaway because he was fed up of people not experiencing authentic Indian food?

Read more: Startups, Entrepreneurship, Self-Employment, Small Business, UK Lifestyle News

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#UK Cambridge scientists defy ‘faulty DNA’ in rare medical conditions battle

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Alasdair Russell CRUK

Gene editing scientists in Cambridge are using ‘molecular scissors’ to cut through problems with faulty DNA to tackle a range of rare medical conditions.

“It’s like rewriting DNA with precision,” explains Dr Alasdair Russell. 

“Unlike other forms of gene therapy, in which cells are given a new working gene but without being able to direct where it ends up in the genome, this technology changes just the faulty gene. It’s precise and it’s ‘scarless’ in that no evidence of the therapy is left within the repaired genome.”

Russell heads up a specialised team in the Cancer Research UK Cambridge Institute to provide a centralised hub for state-of-the-art genome-editing technologies.

“By concentrating skills in one area, it means scientists in different labs don’t reinvent the wheel each time and can keep pace with the field,” he explains. “At full capacity, we aim to be capable of running up to 30 gene-editing projects in parallel.

“What I find amazing about the technology is that it’s tearing down traditional barriers between different disciplines, allowing us to collaborate with clinicians, synthetic biologists, physicists, engineers, computational analysts and industry, on a global scale. The technology gives you the opportunity to innovate, rather than imitate. I tell my wife I sometimes feel like Q in James Bond and she laughs.”

Russell’s team is using the technology both to understand disease and to treat it. Together with Cambridge spin-out DefiniGEN, they are rewriting the DNA of a very special type of cell called an induced pluripotent stem cell (iPSC). These are cells that are taken from the skin of a patient and ‘reprogrammed’ to act like one of the body’s stem cells, which have the capacity to develop into almost any other cell of the body.

A case in point is described by Dr James Thaventhiran, a clinical immunologist in the University of Cambridge’s Department of Medicine who has been working with colleagues at the Great Northern Children’s Hospital in Newcastle 

Dr Thaventhiran highlights the case of a 14-year-old boy from a family with a very severe form of immunodeficiency.

“These family members have a very severe form of immunodeficiency. The children get infections and chest problems, the adults have bowel problems, and the father died from cancer during the study. The boy himself had a donor bone marrow transplant when he was a teenager, but he remains very unwell, with limited treatment options.”

Theirs is a rare disease, which means the condition affects fewer than 1 in 2,000 people. Most rare diseases are caused by a defect in the genetic blueprint that carries the instruction manual for life. Sometimes the mistake can be as small as a single letter in the three billion letters that make up the genome, yet it can have devastating consequences.

When Thaventhiran and colleagues carried out whole genome sequencing on the boy’s DNA, they discovered a defect that could explain the immunodeficiency. “We believe that just one wrong letter causes a malfunction in an immune cell called a dendritic cell, which is needed to detect infections and cancerous cells.”

Now, hope for an eventual cure for family members affected by the faulty gene is taking shape in the form of ‘molecular scissors’ called CRISPR-Cas9. Discovered in bacteria, the CRISPR-Cas9 system is part of the armoury that bacteria use to protect themselves from the harmful effects of viruses. Today it is being co-opted by scientists worldwide as a way of removing and replacing gene defects.

One part of the CRISPR-Cas9 system acts like a GPS locator that can be programmed to go to an exact place in the genome. The other part – the ‘molecular scissors’ – cuts both strands of the faulty DNA and replaces it with DNA that doesn’t have the defect.

In this case, they are turning the boy’s skin cells into iPSCs, using CRISPR-Cas9 to correct the defect, and then allowing these corrected cells to develop into the cell type that is affected by the disease – the dendritic cell. “It’s a patient-specific model of the cure in a Petri dish,” says Russell.

The boy’s family members are among a handful of patients worldwide who are reported to have the same condition and among around 3,500 in the UK who have similar types of immunodeficiency caused by other gene defects. With such a rare group of diseases, explains Thaventhiran, it’s important to locate other patients to increase the chance of understanding what happens and how to treat it.

Dr Thaventhiran and Professor Ken Smith in the Department of Medicine at the University of Cambridge lead a programme to find, sequence, research and provide diagnostic services to these patients. So far, 2,000 patients (around 60% of the total affected in the UK) have been recruited, making it the largest worldwide cohort of patients with primary immunodeficiency.

“We’ve now made 12 iPSC lines from different patients with immunodeficiency,” adds Thaventhiran, who has started a programme for gene editing all of the lines. “This means that for the first time we’ll be able to investigate whether correcting the mutation corrects the defect – it’ll open up new avenues of research into the mechanisms underlying these diseases.”

But it’s the possibility of using the gene-edited cells to cure patients that excites Thaventhiran and Russell. They explain that one option might be to give a patient repeated treatments of their own gene-edited iPSCs. Another would be to take the patient’s blood stem cells, edit them and then return them to the patient.

The researchers are quick to point out that although the technologies are converging on this possibility of truly personalised medicine, there are still many issues to consider in the fields of ethics, regulation and law.

Dr Kathy Liddell, who leads the Cambridge Centre for Law, Medicine and Life Sciences, agrees: “It’s easy to see the appeal of using gene editing to help patients with serious illnesses. However, new techniques could be used for many purposes, some of which are contentious. For example, the same technique that edits a disease in a child could be applied to an embryo to stop a disease being inherited, or to ‘design’ babies. This raises concerns about eugenics.

“The challenge is to find systems of governance that facilitate important purposes, while limiting, and preferably preventing, unethical purposes. It’s actually very difficult. Rules not only have to be designed, but implemented and enforced. Meanwhile, powerful social drivers push hard against ethical boundaries, and scientific information and ideas travel easily – often too easily – across national borders to unregulated states.”

A further challenge is the business case for carrying out these types of treatments, which are potentially curative but are costly and benefit few patients. One reason why rare diseases are also known as orphan diseases is because in the past they have rarely been adopted by drug companies.

Liddell adds: “CRISPR-Cas9 patent wars are just warming up, demonstrating some of the economic issues at stake. Two US institutions are vigorously prosecuting their own patents, and trying to overturn the others. There will also be cross-licensing battles to follow.”

“The obvious place to start is by correcting diseases caused by just one gene; however, the technology allows us to scale up to several genes, making it something that could benefit many, many different diseases,” adds Russell. “At the moment, the field as a whole is focused on ensuring the technology is safe before it moves into the clinic. But the advantage of it being cheap, precise and scalable should make CRISPR attractive to industry.”  

In ten years or so, speculates Russell, we might see bedside ‘CRISPR on a chip’ devices that screen for mutations and ‘edit on the fly’. “I’m really excited by the frontierness of it all,” says Russell. “We feel that we’re right on the precipice of a new personalised medical future.”

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#UK McCall leaving easyJet to become CEO of ITV

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carolyn mccall easyjet itv

easyJet boss Carolyn McCall is quitting the Luton-based airline to become CEO of ITV plc. She is expected to leave around the end of the year and will meanwhile continue with her existing responsibilities. The search for a successor is already underway.

McCall said that after seven years in charge of the airline she felt the opportunity with ITV was too good to pass up.

easyJet chairman John Barton said McCall was leaving easyJet in good shape and had “built and led the management team that has transformed easyJet’s performance in every respect since 2010.

“This has led to sustained and continuing financial success which has been shared with shareholders with a more than trebling of easyJet’s share price and the payment of £1.2 billion in dividends.”

McCall added: “This was a really difficult decision for me to make. I have had an amazing seven years at easyJet; I am so proud of what the airline and its people have achieved in that period.

“After seven years the opportunity from ITV felt like the right one to take. It is a fantastic company in a dynamic and stimulating sector. easyJet is a structural winner in a brilliant position, and I look forward to being a loyal customer in the years to come.”

easyJet’s Q3trading update will be issued on Thursday (July20). It expects to report that an improving revenue per seat trend, as outlined in the half year results in May, has been supported by strong third quarter load factors, as well as the continued reduction in market capacity growth and a significant benefit from the move of Easter to April. 

Full year cost per seat at constant currency expectations remain in line with guidance, reflecting continued strong cost control with planned investments in resilience to support the delivery of improved operational performance during the summer months.

Operational performance for the quarter has improved as the investment in resilience has delivered improved on time performance across the network.
Near the end of June, Standard and Poor reaffirmed easyJet’s credit rating at BBB+, which the chairman said reflected easyJet’s “continued strong investment grade balance sheet.”

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#UK Eight19 secures £1.3m funding to cash in on new solar IP

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Eight19 Cambridge

Eight19, the Cambridge-based world leader in energy harvesting solutions powered by flexible organic photovoltaics (OPV), has received a further £1.3 million of investment.

Lucros Investment (Netherlands) joined existing investors IP Group, Clarium and Providence in the round.

The new investment follows two years of continued improvement in OPV performance, advances in manufacturing readiness and an increased engagement with customers in the retail, FMCG and IoT sectors.

Claudio Marinelli, general manager and VP business development, said: “We are delighted to have secured the additional funding, which will allow Eight19 to accelerate commercial engagement with customers through the delivery of complete energy autonomous solutions utilising our flexible OPV.

“The funding will also enable the company to accelerate the commercialisation of a recent technology breakthrough at the Cavendish Laboratory, Cambridge University that could enhance the efficiency of conventional silicon solar panels by up to one quarter.”

Nick Stokman, investment manager at Lucros, who joins the board added: “Based on our experience in the renewable energy market we believe that Eight19’s commercialisation expertise in thin film manufacturing, coupled with the ground-breaking photophysics innovation from Sir Richard Friend’s group at the Cavendish Laboratory, can deliver a very exciting and disruptive product in the field of photovoltaics renewable energy.”

Robert Trezona, head of Cleantech at IP Group said: “We are excited by the progress Eight19 is making with commercialisation of their OPV business. Their work with Cambridge University on thin film technology to enhance the performance of conventional silicon solar panels is highly innovative and has huge business potential.”

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#UK Cambridge’s billion dollar babies

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The hot money is on cyber security business Darktrace becoming Cambridge’s 16th company to attain a billion dollar valuation. It is within striking distance with a private valuation of some $825 million following this week’s $75m Series D round. We reckon it will bust the barrier this year at its current rate of progress.

Darktrace certainly looks a unicorn in the making – as billion dollar startups are known. It was only founded in 2013 and the man behind the venture, Mike Lynch, told me: “It’s not bad from a standing start.”

And that is the point. As we researched the fastest companies in Cambridge to attain the milestone, thoughts went back to telecoms provider Ionica, credited by Wiki and many informed local brains as the first and fastest local technology startup to attain the $1bn valuation.

So we go back to Mike Lynch’s extremely valid point regarding a standing start. Ionica was actually founded in 1991 and went through agonies in trials; it only physically operated between 1995 and 1998 and floated in July 1997 with shares initially trading at 390p.

But that was at the height of the dotcom boom and from IPO it was downhill all the way until administrators were called in during 1998.
 
So, it seems fair to say it took Ionica six years from foundation to become a billion dollar baby. Darktrace therefore has time on its side to beat the record for Cambridge and, barring unforeseen disasters, would certainly be the fastest surviving Cambridge startup to cross the line. 

The other point to remember is that it remains private at the time of writing. Ionica in its pomp was a public company.

First thing is to get there before we start rewriting the record books, but the rate of Darktrace’s progress flags up another valid point about the current technology scene in the cluster – the number of potential unicorns in the new wave of AI and machine learning startups.

A group of unicorns is called a blessing and one hopes the Cambridge candidates for such status are not in disguise. Opinions will differ and there is many a slip twixt cup and lip – but money men follow entrepreneurs with a track record. When they have a track record and a red hot technology play they become doubly attractive to global investors.

I would suggest two of the very youngest who really stand out as baby unicorns – known in the trade as sparkles or shimmers.

The first is FiveAI – and here are some of the whys. CEO is Stan Boland – the man who plucked ARM out of Acorn; spun out Element 14 (acquired by Broadcom for $640m in 2000); co-founded Icera which was acquired by Nvidia for $367m in 2011 and then found the upside of fledgling Neul’s technology and persuaded Huawei to splash the cash when it looked like the young business was heading nowhere fast.

FiveAI has the technology that will make autonomous vehicles really safe thanks to its unique software suite. The company is educating the manufacturers about how much software is really needed to achieve acceptable standards of safety and reliability.

It has superb advisers, not least Professor Andrew Blake, who was director of Microsoft Research Cambridge and became the first director of the Alan Turing Institute.

Also notable in the field is Dr Subramanian Ramamoorthy, a reader in robotics in the School of Informatics at The University of Edinburgh. Wherever you look among the scientific advisers and management team there is across-the-board excellence.

Boland reckons FiveAi should be targeting $50m in upcoming funding rounds to accelerate commercialisation. No-one would bet against him passing every milestone along the silicon highway.

PROWLER.io looks the other home banker. PROWLER.io develops autonomous decision making systems on the cutting edge of Artificial Intelligence and Machine Learning.

Using state of the art computational tools – probabilistic modelling, reinforcement learning and multi-agent systems – it builds agents that rapidly learn from and adapt to their environments.

It started with just three founders and emerged from stealth with £1.5 million in seed funding in September 2016. In under 10 months it is up to more than 30 staff, hiring world-class engineers at warp speed and set to announce a significant funding round in the near future.

The business has grown so fast it had to swiftly vacate its first home at Barclays Eagle Labs and is now at much larger offices at Charter House in Hills Road in Cambridge’s rapidly swelling business quarter. It is currently looking to hire for roles such as machine learning researchers, senior software engineers and software engineers in test.

CEO and co-founder Vishal Chatrath has been dubbed by Cambridge entrepreneur Dr Hermann Hauser “a magnet for attracting world talent,” and he is living up to that tribute. He looks a world-class act.

There will be others from the current crop if they maintain focus, raise the right amounts of funding at the optimum times – and can find enough world-class engineers to deliver the vision. This latter may be the greatest challenge and obstacle to even the very best.

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