ILC Therapeutics has strengthened听颈迟蝉听board and听management and revealed听a pre-IPO funding round to advance its lead novel hybrid interferon drug candidate听Alfacyte.听
The Glasgow-based听BioTech听is a pioneer in the discovery and development of a new class of interferon drugs which听‘interfere鈥� with viral reproduction and are one of the body鈥檚 key defences against all viral pathogens.听听
In some cases 鈥� including SARS, MERS and COVID-19 鈥� viruses can evade the interferon response by delaying the innate immune response.听听
A therapeutic like听Alfacyte听can offer enhanced interference to COVID-19 replication in the body and activate the body鈥檚 own Natural Killer (NK) cells to fight virus infection. It can also reduce 鈥榦ff target鈥� effects and reduce production of cytokine storm mediators which often cause the most severe cases of COVID.听
In vitro testing at the University of St Andrews demonstrated that听Alfacyte听had many times greater antiviral activity against SARS-CoV-2 cell culture,听the virus which causes COVID-19,听than听any other available interferons.听
ILC Therapeutics is preparing听Alfacyte听for听human clinical trials.听
The appointments announced are Peter Bains as Non-Executive Chairman, Richard Morgan as a Non-Executive Director and Allan Watson as Chief Financial Officer.听
Dr Magnus Nicholson, Chairman of ILC Therapeutics, will become senior adviser and non-executive director on the board.听
鈥淚 am delighted to be part of the ILCT team for the next phase of its development in bringing a novel therapeutic to market,鈥� said Bains.听听
鈥�Alfacyte听has the potential to become an important antiviral treatment in the ongoing fight against…听COVID-19 in particular.听听
鈥�It has the potential to treat a wide range of viral and infectious diseases and offers us a significant tool for future pandemics.鈥�听