IP Group portfolio company Synairgen has revealed positive data from its phase II clinical trial.
The trial has been described by Asthma UK as having the potential to be one of the biggest breakthroughs in asthma treatments in the past 20 years. Synairgen is a spin-out company from the University of Southampton in which IP Group and its managed funds together hold an 18.2% beneficial interest.
IP Group has a 10.8% beneficial interest, while IP Venture Fund, a specialist venture capital fund managed by the Group, holds a further 7.4%.
Synairgen's trial investigated the potential for SNG001 (inhaled interferon beta) to protect asthmatics from respiratory virus infections (principally the common cold) that can spread to the lung, which are a major cause of worsening asthma symptoms.
It is estimated that viral infection is associated with up to eight out of ten asthma-related emergency department visits.
At 1:01pm: (LON:IPO) IP2IPO Group share price was +1.88p at 142.88p
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