BRIEF—Metrion Bioscience secures funding to challenge growing psoriasis market

Metrion Biosciences has secured £637,000 ($821,538) under Innovate UK's Biomedical Catalyst Primer Award scheme.

The public funding will be used to support research on oral potassium channel inhibitors for treatment of psoriasis, a common auto-immune disease for which there is significant unmet medical need.

Beginning in September 2018, Metrion will begin analyses of potential compounds which, if successful, will be a welcome addition to a rapidly-growing marketplace, projected to be worth $13 billion by 2024.

Keith McCullagh, Metrion's chairman, said: "As well as being a specialist ion channel contract research organisation, Metrion also has valuable intellectual property in the potassium channel field which we are keen to see commercialized. The funding received from Innovate UK will enable us to determine the potential value of this novel therapeutic approach to auto-immune conditions. If successful, we will seek appropriate industry partners to fund further development and commercialization."