Aurum Biosciences, the Glasgow-based biopharmaceutical company, has been recognised by the United Kingdom’s Innovative Licensing and Access Pathway (ILAP) and awarded an Innovation Passport for its state-of-the-art stroke technology.
A spinout company of InnoScot Health, NHS Greater Glasgow and Clyde, and the University of Glasgow, Aurum Biosciences develops therapeutics and diagnostics in areas of unmet clinical need.
The company was awarded the Innovation Passport thanks to its lead product, ABL-101 — a patented platform technology which has the potential to offer major advancements in the management of acute stroke patients, especially acute ischaemic strokes (AIS). AIS is the leading global cause of disability and the second-leading cause of death.
The Innovation Passport acts as a gateway to the accelerative pathway, which streamlines innovative products to market, helping to improve patient access to new and effective treatments.
To qualify for the pathway, new medicines and tools must concern a condition which is either life-threatening or seriously debilitating, or an area of significant patient or public health need.
While the current focus is on tackling AIS, ABL-101’s underlying tech can potentially be developed to be used in other high-need clinical areas in the future. These areas could include cardiology, oncology, inflammatory conditions, and neurodegenerative diseases.
David Brennan, who has recently stepped up as CEO of Aurum Biosciences, said: “I am extremely pleased that Aurum have been granted the Innovation Passport which further confirms the significant clinical need for our ABL-101 technology. We look forward to actively engaging with key stakeholders through the ILAP process to help bring our life-saving technology to patients as quickly as possible.
“We believe that the potential worldwide patient benefit for ABL-101 is vast. One in six people have a stroke in their lifetime, 5.8 million die each year as a consequence, and disability increases by 1% for every nine minutes of stroke.
“ABL-101 for stroke treatment remains a fundamental driver for us, but the opportunity in cardiology, oncology, spinal cord injury, inflammatory conditions, and more is significant. We believe the Innovation Passport represents the start of us fully realising that opportunity.”
Graham Watson, Executive Chair, InnoScot Health, also commented on the award, saying: “The awarding of the Innovation Passport confirms the significant clinical need for, and clear potential around, Aurum Bioscience’s technology, initially in tackling AIS but also in targeting other life-threatening and serious conditions.
“It offers a genuine and significant opportunity to ensure new and innovative products reach patients across the UK, safely and quickly.
“We are delighted to have played a role in Aurum Biosciences’ journey as a truly pioneering Scottish company. This milestone, combined with ambitious development plans and widespread investor interest, is another step towards delivering a wide spectrum of health, social, and economic benefits.”