Track Record

Regenerative medicine including cell therapy and stem cells

Ithaka undertook market research to obtain industry views on the potential of stem cells for therapeutic applications and for use as drug discovery tools, with a particular emphasis on the issues that need to be addressed in order to make stem cells a commercial reality. Responses from around 40 pharmaceutical and biotechnology companies were collated and the results summarised in a report, which included recommendations for further action.

In early 2008 Ithaka, in collaboration with the Centre for Life Sciences, (‘CELS’), completed a review of significant regional healthcare projects for the North East’s Regional Development Agency, ONE North East, identifying regional strengths, existing and potential projects with clinical or commercial benefit.
The review focused on projects being undertaken by the North East Stem Cell Institute, including work around cord blood banking, islet and limbal cell transplantation, human embryonic stem cell lines and applications of dermal stem cells in wound healing.
Recommendations from Ithaka/CELS team are now being implemented by ONE North East.

Sheffield University Enterprises Ltd (SUEL) is responsible for technology transfer and commercialisation of intellectual property on behalf of Sheffield University. Ithaka was engaged by SUEL to assist in the identification and exploitation of commercial opportunities from SUEL's portfolio, one which led to the formation of Axordia Ltd. Axordia is focused on the derivation of new lines of human embryonic stem cells and the development of technologies for directing the differentiation of these cells into desired cell types (e.g. pancreatic cells, neurons etc.) Ithaka developed the business plan for Axordia and raised seed financing of £420k.
Dr Paul Rodgers subsequently served as a non-executive director of Axordia for two years with responsibility for business development. In this time he negotiated two corporate deals (one with a leading UK health care company, and the other with a major international life sciences company) and presented the company's technology to venture capital funds and international pharmaceutical/biotechnology companies. He was instrumental in securing funding for a GMP facility at Sheffield University for processing of embryonic stem cells. Axordia were first to deposit a qualified human ES stem cell line with the UK Stem Cell Bank and were acquired by Intercytex in 2009.

Expertise and experience