Celtic Pharma has announced that it has made ’significant funding’ available to Cantab Biopharmaceuticals for the development of improved biological medicines.The initial funding commitment is approximately £5 million over three years and is designed to allow Cantab to take its first biosuperior product into clinical trials.

Celtic has also announce an investment into a research programme to develop a novel biopharmaceutical molecule. The research programme will be undertaken jointly by PolyTherics and Cantab. PolyTherics will receive an upfront payment and ongoing technical support for the research, while Celtic may elect to submit two further proteins for research under the collaboration. PolyTherics grants Celtic an option to license products arising from the research collaboration, with PolyTherics receiving a share of any commercial returns. Further details of the agreement terms were not disclosed.