Edinburgh-based Frontier IP, a specialist in commercialising university intellectual property, said on Friday its portfolio company The Vaccine Group (TVG) is making “material progress … with its novel vaccine technology and the start of work on a COVID-19 vaccine for use in animals.”
Frontier IP said: “The key points include validation of the technology through successful rabbit trials, which have revealed the potential for new intellectual property, the start of animal trials for bovine tuberculosis and African Swine Fever, and good progress on US government-backed work on Ebola and Lassa fever vaccines.
“The company completed a £680,000 equity fund raise in January 2020 that valued TVG at £9.5 million and Frontier IP’s 17 per cent shareholding at £1.6 million.
“The funds are being used by TVG to accelerate technology development.”
Frontier IP CEO Neil Crabb said: “The announcement shows TVG has been making great progress to date in meeting the compelling need for vaccines to tackle diseases with profound human and economic costs.
“The range of vaccines now under development and the success of trials so far proves the technology could be potent in tackling a wide variety of diseases that jump from animals to humans or are damaging economically.
“We’re working closely with the company to accelerate its vital work.”