April 2009 - Successful Fundraising

Therakind Limited (“Therakind” or the “Company”), a paediatric healthcare business, is delighted to announce that it has successfully raised £350,000 from new investors. Therakind is a spin-out from The School of Pharmacy, University of London and was established in October 2006.

Therakind specialises in paediatric medicine and has the expertise to develop a drug from an idea through to regulatory approval. It develops licensed paediatric medicines in collaboration with partners and benefits from the EU paediatric drug legislation.

This funding, which has been raised from an investment fund and private individual, will allow Therakind to continue its development of a paediatric sedation drug, which it is co-developing with another party. This sedation product is currently progressing through the European regulatory process and is expected to gain approval in 2011.

Therakind has continued to expand its customer base and generate significant revenues. It is currently assisting three other companies with the evaluation and development of a number of paediatric therapeutics.

Nick Rodgers, Chairman of Therakind, said: "We are very pleased to have secured additional funding for Therakind. The paediatric drug market is a new and exciting field of medicine, which has largely been ignored by pharmaceutical companies since their adult drugs have been routinely used “off label” for treating children. Estimates vary but suggest that over 50 per cent of drugs used on children in hospitals have not been tested on children and are therefore being used “off label”.”

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