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Market research service helps secure funding for Pneumagen
Our market research service helps secure funding and growth for Pneumagen
Our research team provided sector insights and analysis to help biotech company Pneumagen secure funding to develop a drug that could help treat Covid-19. Our research also helped the company submit a successful grant application for an oncology product.
Exploring new markets
Pneumagen is a biotech R&D company focused on developing a new method of preventing and treating respiratory tract infections. The company is working on a drug, Neumifil, that it hopes will become a universal treatment for influenza, respiratory syncytial virus (RSV) and Covid-19 infections.
Pneumagen requested information from our research service on the size of the RSV market. The company also needed help assessing the oncology disease market, along with drug and vaccine availability, to strengthen an Innovate UK funding application for further RSV drug development.
Our research service provided sector insights, competitor analysis and pipeline product analysis to help Pneumagen create a business plan and submit their application for funding.
Find out how we can help you explore new markets and unlock funding opportunities.
Building a business case to secure investment
With £4 million raised overall, Pneumagen has been able to progress the clinical development of Neumifil for the prevention and treatment of Covid-19.
And Pneumagen's success hasn’t stopped there. With our help, the company also secured a SMART feasibility grant for research that led to the identification of a lead pre-clinical candidate for ovarian cancer. As a result, Pneumagen used the information we provided helping to secure early funding to help form the new Scottish oncology R&D biotechnology business, Omideon.
Dr Graeme Rogers, Chief Scientific Officer at Omideon Limited, said:
“The market research support provided by Scottish Enterprise is an integral service for SMEs like us to access and enhance business cases towards investment. It's been an invaluable source of information”
The company expects to close a seed investment into Omideon soon and the new entity will focus on progressing the research and development of novel treatments for cancer.
“An excellent and invaluable service that provides data and information to inform business decision making and support investment. As an SME, it wouldn't be possible for Pneumagen to secure the breadth of data required.”
Douglas Thomson, CEO, Pneumagen
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