NRI industrialist Lord Swraj Paul announced today that he has agreed arrangements with the University of Wolverhampton to invest in a spin-out company that is developing a new anti-cancer drug.
The new company, Disulfican Ltd, has been formed to build on research carried out by Prof Weiguang Wang, Professor of Experimental Cancer Therapeutics at the University of Wolverhampton.
It will receive an investment of around 200,000 pounds from the varsity and the Caparo Angad Paul Fund, set by Paul in memory of his late son Angad.
Led by Wang, the Cancer Research Group (CRG) is developing a treatment based on Disulfican an existing drug used to treat alcoholism - which had showed promising results in pre-clinical testing as a new anti-cancer therapy.
Initial research was conducted by the CRG within the Faculty of Science and Engineering at the University of Wolverhampton, where Lord Paul is the Chancellor.
"We are very excited about the prospects for PLGA- Encapsulated Disulfican. We are developing the treatment for use against two orphan cancers: mesothelioma and glioblastoma.
People diagnosed with these diseases have very few treatment options and the hope is that our work will transform their pects," said Wang, director of Disulfican.
It aims to assemble an international research collaboration focused upon the development of the drug formulation to regulatory standards and testing its anti- cancer safety and efficacy.
The intellectual property relating to encapsulated Disulfican is owned by the University of Wolverhampton and will be assigned to Disulfican Ltd. Both the University of Wolverhampton and Caparo plc will have shareholdings in Disulfican Ltd.
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