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

FUJIFILM Irvine Scientific launches BalanCD Gal Supplement for biotherapeutic development

FUJIFILM Irvine Scientific launches BalanCD Gal Supplement for biotherapeutic development

10 Sep 2019

Delivers enhanced galactosylation for improved protein quality, and antibody binding and function.

Read more 
Dutch company receives €20 million for skin cancer diagnostic test

Dutch company receives €20 million for skin cancer diagnostic test

3 Sep 2019

The test can accurately predict the risk of having metastases present in the lymph nodes without having to undergo surgery to remove lymph nodes.

Read more 
AbbVie axes Rovalpituzumab Tesirine R&D program

AbbVie axes Rovalpituzumab Tesirine R&D program

2 Sep 2019

Independent Data Monitoring Committee recommended terminating the study due to lack of survival benefit.

Read more 
Improving anxiety-induced insomnia with lavender oil

Improving anxiety-induced insomnia with lavender oil

29 Aug 2019

New data shows pharmaceutical-quality lavender oil significantly improves anxiety-induced insomnia when taken as a daily capsule.

Read more 
Grant from Innovate UK to fund gel stabilisation technologies development

Grant from Innovate UK to fund gel stabilisation technologies development

28 Aug 2019

Atelerix Consortium awarded £267,000 Innovate UK Grant for collaboration with the Cell and Gene Therapy Catapult and Rexgenero on cell therapy stabilisation technologies.

Read more 
Exciting new vaccine targets killer disease TB

Exciting new vaccine targets killer disease TB

28 Aug 2019

Australian researchers produce early-stage vaccine which is inhaled into the lungs.

Read more 
Rapid adoption of Carterra’s LSA instrument drives European expansion

Rapid adoption of Carterra’s LSA instrument drives European expansion

20 Aug 2019

Company's antibody screening platform minimizes the risk of missing a blockbuster.

Read more 
IDT launches oPools Oligo Pools

IDT launches oPools Oligo Pools

19 Aug 2019

The longest, highest fidelity, and ready-to-use custom oligo pools on the market.

Read more 
FDA Approves rfxcel for Verification Router Service (VRS) Pilot

FDA Approves rfxcel for Verification Router Service (VRS) Pilot

15 Aug 2019

rfxcel, the global leader in supply chain compliance and serialization solutions, has been approved by the U.S. Food and Drug Administration (FDA) to conduct a pilot to extend the testing of the Verification Router Service (VRS) for saleable returns.

Read more 
rfxcel Awarded ISO 9001:2015 Certification

rfxcel Awarded ISO 9001:2015 Certification

14 Aug 2019

rfxcel, the leader in track and trace solutions for global supply chains announced that it is now ISO 9001:2015 certified for Quality Management Systems.

Read more