Aquapharm BioDiscovery
Sourcing new drugs from the ocean
Aquapharm is using its specialist knowledge of culturing and fermentation of marine bacteria and fungi to identify new drugs capable of meeting unmet needs in the pharmaceutical, nutraceutical and cosmeceutical markets.
The Scotland-based marine biotechnology company sources microorganisms from a diverse range of marine environments around the Northern Hemisphere, ranging from coastal regions to the deep sea.
The marine samples are then sorted and catalogued into different types of microbial species, back in the laboratory.
"We screen them for interesting biological properties, which could range from new anti-infective compounds to target the growing problem of [hospital superbug] MRSA, through to natural ingredients for the cosmetics and food sectors," says Aquapharm CEO, Dr Andrew Mearns Spragg.
Benefits of working in a marine environment
Aquapharm builds value from developing new bioactive compounds that have applications in a diverse range of sectors.
"Our approach is to indentify early-market opportunities for other products that fulfil industrial markets - such as new enzymes that catalyse interesting reactions, new food ingredients or new active cosmetic ingredients, which have a much earlier market opportunity and relatively attractive valuations."
The benefits of working in a marine environment are significant, according to Dr Mearns Spragg. "Firstly, we're operating in an environment that our competition isn't. Secondly, in this type of environment the chance of discovering new biologically active chemistry is 10 times higher than on land. And finally, you can use that new chemistry and combine it with traditional chemistry techniques to diversify your chemistry even further.
"The marketing opportunities that it allows our company to achieve are greater as well. The interest in the ocean is there, especially if you're looking at the cosmetic market: if you've got a marine take on something then it confers a premium product."
Aquapharm making an impact
Aquapharm has used its research to build up a 'microbial library' of over 6,500 marine bacteria and fungi. The library may contain previously unknown compounds, which could provide cures for diseases or answers to manufacturing problems. Aquapharm offers its library to third-party companies for bespoke screening contracts.
In July 2007 the company secured £4m in a second round of funding, led by Aescap Venture with co-investment from Tate & Lyle Ventures. The money will allow the company to scale up its manufacturing capabilities and accelerate its drug development work.
"The incoming investors bring a blend of comprehensive sector-specific experience and international networks, providing an excellent platform for Aquapharm's future success," comments NESTA Investment Executive, James Edmonds.
Written: October 2007
Summary
AquaPharm is developing a library of new drugs and antibiotics from the bacteria and fungi found in marine environments.
Sector: Healthcare
Team: Investments
Location: Scotland
Investment: £325,000
Other Investors: Aescap Venture, Tate & Lyle Ventures E-Synergy, Scottish Enterprise, local RDA
Website: http://www.aquapharm.co.uk