ILC Therapeutics, a biotech company, is working towards a Series A funding round and an IPO, following successful in vivo testing of their primary drug candidate. The company has previously raised £3.5 million and £2 million in two separate rounds in 2021 and 2022 respectively.
Interferons are unique molecules which interfere with viral replication, protecting cells from viral infections, bacterial, and fungal pathogens. Since their discovery in 1957, more than 20 distinct IFN subtypes have been identified. ILC Therapeutics develops hybrid interferons by selecting favourable attributes of specific IFN subtypes, combining them into a whole new class of novel hybrid interferons.
The company is on track to commercialise its suite of antiviral medicine for respiratory tract infections – including SARS-CoV-2. ILC Therapeutics’ leading hybrid interferon drug, Alfacyte, is already in development to target upper respiratory tract viral infections. They have completed in vivo tests of this hybrid interferon, demonstrating its effectiveness both in preventing infection and in the treatment of COVID-19.
ILC Therapeutics is also testing its second lead product, Dermacyte, for the treatment of atoptic dermatitis, the most common form of eczema, and psoriasis in human skin and canines, and is entering a R&D partnership with a international veterinary group during Q2 to develop its Caniferon product to treat atopic dermatitis in dogs.
Having opened new laboratory facilities at its BioCity headquarters near Glasgow in 2022, ILC is preparing its Alfacyte product for manufacture in Belgium this year, before moving towards Clinical Trial Authorisation (CTA) in 2024.
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