Healthcare Brands International (HBI) is being backed by a powerful syndicate of venture capitalists, who are funding the company to the tune of £25m.
The company will target firms in the biotech sector that have successfully developed new technologies, but require the commercial know-how to get their product off the ground.
The syndicate behind the new company includes VCs such as Abingworth, MVM, 3i and Sofinnova – all of whom have past experience in backing life science projects.
HBI’s management is led by former Boots man Barry Clarke, who masterminded the chemist’s healthcare international brand which was later sold to Reckitt Benckiser.
The company’s first branding is a new influenza drug called Sambucol, which has anti-viral properties derived from elderberries.
In a recent study the drug was found to be effective in arresting the development of the deadly H5N1 strain of avian flu, the company say.
© Crimson Business Ltd. 2006