Glasgow-based biopharmaceuticals company Aurum Biosciences has appointed a new chief executive as it looks to expand its global presence.
A 2015 clinical stage spin-out company of InnoScot Health, NHS Greater Glasgow and Clyde, and the University of Glasgow, the business develops therapeutics and diagnostics in areas of unmet clinical need.
Its patented ABL-101 platform technology represents one of the first advancements in the management of acute stroke patients in the past 20 years. It not only delivers oxygen to brain tissue under stress beyond the clot, but provides acute stroke diagnostics and helping to identify salvageable brain tissue.
Replacing Jim McGuire, new leader David Brennan will step into the role in March on a full-time basis, after a recent period as both interim chief executive of Aurum and principal clinical physicist at the Queen Elizabeth University Hospital in Glasgow.
“I was a founding member of the company and previously director of project management, taking a keen interest in all aspects of company development, but when the opportunity to become CEO arose, I simply couldn’t turn it down,“ he explained.
“Aurum has grown so much since I first came onboard - initially, I thought we would just licence out the technology, then it became a spin-out with a whole new life of its own and a very bright future.
“My NHS background has been in the field of MRI, image analysis, and their clinical applications, so it feels like a natural step, and a huge opportunity for me to now immerse myself in a company that has so much potential to significantly help in some of the clinical areas I have experience in.”
While Aurum has selected stroke as its first therapeutic target, its novel molecule has the potential to be used in multiple indications where oxygen is required.
It is also being developed for inflammatory conditions, oncology, cardiovascular conditions, spinal cord injury and dementia.
Aurum was recently awarded Innovative Licensing and Access Pathway (ILAP) status by the Medicines and Healthcare products Regulatory Agency (MHRA).
The ILAP - which aims to accelerate the time to market, facilitating patient access to medicines - provides a single, integrated platform for collaborative working between the MHRA, partners and the medicine developer.
Aurum continues to attract international investment and collaborators, most recently from the US and Switzerland.
In 2020, it raised around £670,000 as part of a round of equity funding, enabling it to develop new treatments and diagnostics.
That funding round was supported by InnoScot Health, Infinion Biopharma, the Scottish National Investment Bank, TRICAPITAL business angel syndicate, and individual investors.
Brennan added: “Our focus is firmly on manufacturing and realising the full potential of our existing collaborations, while continuing to attract investment.”
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