One of Northern Ireland’s most innovative bio-tech companies, SiSaf Ltd, has just announced positive results from the Phase 1 Human Safety Trials carried out using its ground breaking drug delivery system, SiSafe®.
Belfast, February 2014. SiSaf, which is located in the Northern Ireland Science Park and the Irish Innovation Center, San Jose, Silicon Valley, California, had the Phase 1 testing carried out in the United States and received excellent results regarding human safety data.
Commenting on the results, Dr Suzanne Saffie-Siebert, Chief Executive of SiSaf said; “This is very exciting news for SiSaf. The overall goal of Phase 1 testing is to ensure the delivery system is safe for human use, and we scored positively across all the agreed human safety markers, in fact we scored the highest percentages possible in these human safety tests. Standard safety tests are normally carried out over a 48 hour period only, however we wanted to test the longer term safety aspect and carried out our testing over one full month, which further strengthens the results.”
“This successful completion of Phase 1 human safety testing means we can now progress to Phase 2 which will test the efficacy of SiSafe®. The first application being trialled involves a skin hydration application. This will be followed by tests on an application to treat acne more efficiently and without any adverse side effects.”
The NI bio-tech company located in the Northern Ireland Science Park successfully closed an equity-funding round back in October 2013 which facilitated the current phase of testing. That funding was provided by a consortium of investors, which included Co-Fund NI, a Fund created by Invest Northern Ireland and part-financed by the European Regional Development Fund, Innovation Ulster Ltd, two angel investors, and was led by ITLG’s fund, Silicon Valley Global Ventures (SVG Ventures). On the back of the success of these Phase 1 trials the company has plans to launch a large value funding round over the next few months.
SiSaf is a University of Ulster portfolio company with Laboratories at Ulster's Nano & Integrated Bio Engineering Centre (NIBEC).
According to its Chairman, John Hartnett, Founder of ITLG and SVG, and one of Silicon Valley’s leading tech investors said: “SiSaf is at a really exciting stage in its development as a result of receiving the positive human safety data results. Upon completion of the efficacy testing, we will be looking to raise further large-scale private equity capital investment given the multiple applications of SiSafe® and the rapid progress the company is able to make. Unlike many other bio-tech companies, SiSaf has made significant positive progress within a short timescale, thereby potentially making it very attractive to investors interested in this sector.”
Dr Suzanne Saffie-Siebert added: “Once we have the efficacy trial results we will look to roll out testing, using the drug delivery super-app, across other platforms including animal vaccination and anaesthesia applications, as well as the efficient treatment of acne. The possibilities for the technology are very exciting and the company is planning to hire some very senior scientists to develop the veterinary R&D opportunities which currently exist for this drug delivery system. ”