BioCity backs world's first Rx to OTC switch incubator

5 Sep 2019

Maxwellia considered to have the skills and the expertise to deliver and reach their goal of creating the big OTC brands of the future.

BioCity, the pioneering life science incubator and business collective, has invested in Maxwellia.

BioCity backs world's first Rx to OTC switch incubator
Pictured L-R: Anna Maxwell, Maxwellia CEO. Dr. Imelda Juniarsih, investment analyst, BioCity.

The world’s first prescription (Rx) to Over the Counter (OTC) switch incubator, Maxwellia’s novel approach converts prescription drugs into versions that can be purchased without prescription from pharmacies and supermarkets; a process known as ‘switching’.

As growing pressure and budget constraints are put upon the NHS, self-care, within therapeutics has been recognised as a future Public Health priority. Securing a GP appointment can be difficult with many not seeking treatment for manageable conditions because they do not want to ‘bother the Doctor’. The creation of new OTC products potentially enables quicker therapeutic outcomes for many, who may not previously have sought treatment. For the NHS, the shift towards self-care also supports the wider public health issues by freeing-up a GP's time.

The consumer healthcare market is currently estimated at £2.6 billion in the UK and is growing, with nearly half of all UK adults needing help to self-care for treatable conditions.

The funding round was partially completed via the BioCity angel investment platform, in which BioCity co-invests alongside a collective of business angels.

The investment will be used to support three innovative products in the areas of women’s health and healthy lifestyle that are currently in the pipeline at different stages, two of which are undergoing the approval process with the Medicines and Healthcare products Regulatory Agency (MHRA).

Maxwellia, now based at Alderley Park, is the latest graduate to have gone on to successfully secure funding from BioCity and the angel investor collective. Specialists in early-stage life science investments, BioCity has added several promising ventures to the portfolio since the beginning of the year and is quickly becoming a leading investor within the life sciences.

BioCity investment analyst, Dr Imelda Juniarsih said: "Maxwellia is spearheading the move towards self-care therapeutics; their potential impact is vast.

"By providing consumers with quicker, wider and more convenient access to medicines and reducing the burden felt by the NHS, Maxwellia could support and accelerate the move towards self-care and provide early intervention opportunities for some long-term conditions in the UK. The Maxwellia team, led by Anna Maxwell, have both the skills and the expertise to deliver and reach their goal of creating the big OTC brands of the future."

Anna Maxwell, Maxwellia CEO and founder said: "We are delighted to have the support of the BioCity fund and the benefits of their mentorship in this important phase of Maxwellia’s journey towards the commercialisation of our first approved product."

Read More

Related news

CDMOs to benefit from rising BTDs, orphan drugs and fast track status therapies

CDMOs to benefit from rising BTDs, orphan drugs and fast track status therapies

8 Nov 2019

But personalized medicines will require new logistics and manufacturing systems.

Read more 
Recipharm launches new service to support companies with QC and analytical requirements

Recipharm launches new service to support companies with QC and analytical requirements

1 Nov 2019

Services including method development, method validation, and stability program design and implementation.

Read more 
FDA approves first  and only medicine in a new class of acute treatment for migraine

FDA approves first and only medicine in a new class of acute treatment for migraine

15 Oct 2019

The approval of Eli Lilly's Reyvow represents the first new class of acute migraine treatment approved by the FDA in more than two decades.

Read more 
Lonza’s Ibex solutions to support Genmab’s growing clinical portfolio

Lonza’s Ibex solutions to support Genmab’s growing clinical portfolio

14 Oct 2019

Company's Ibex Design planned to take Genmab’s pre-clinical candidates from gene to potential IND within 12 months.

Read more 
Funding to accelerate delivery of Univercells' vaccine portfolio

Funding to accelerate delivery of Univercells' vaccine portfolio

11 Oct 2019

European financing to support Univercells’ R&D investments to develop four essential and undersupplied global health vaccines to be produced at affordable prices, high quality and large volumes.

Read more 
Industrial-scale manufacture of therapeutic exosomes

Industrial-scale manufacture of therapeutic exosomes

10 Oct 2019

Coordinated purification process development service accelerates progress to clinical trials, and scale-up manufacturing.

Read more 
BASF and Biomillenia join forces in microbiome research to promote healthy skin

BASF and Biomillenia join forces in microbiome research to promote healthy skin

7 Oct 2019

Research aims to identify novel dermocosmetic active ingredients via unique microbiome-on-a-chip technology.

Read more 
Arctoris secures funding to advance novel robotic drug discovery platform

Arctoris secures funding to advance novel robotic drug discovery platform

1 Oct 2019

Platform will enable scientists and biotechnology entrepreneurs worldwide to make discoveries faster and more efficiently,

Read more 
Data on lead ADC demonstrates effective tumour regression

Data on lead ADC demonstrates effective tumour regression

1 Oct 2019

IKS01 shows marked anti-tumour efficacy in pre-clinical models of ovarian and lung cancer.

Read more 
Researchers develop less toxic anti-cancer drug

Researchers develop less toxic anti-cancer drug

24 Sep 2019

New drug works like a ‘magic bullet’ that is delivered directly to the mitochondria of cancer cells.

Read more