MTI investee Ai2 wins first commercial contract

1 September 2010

Ai2 Limited, a medical materials coating spin-out from the University of Manchester, has announced the signing of a joint development and licensing agreement with UK based Sauflon Pharmaceuticals Ltd, a privately owned pharmaceutical company which specialises in a number of ophthalmic product areas. This deal represents Ai2’s first major commercial contract.

Ai2 has developed highly innovative peptide technology which is able to provide an anti-infective effect when applied to, or incorporated into, healthcare and hygiene application products.

The contract will see Ai2’s anti-infective peptides being developed for use in a number of Sauflon’s opthalmic products, including contact lenses and contact lens cleaning solutions.

Jim McNairney, Ai2’s CEO, said: " Concluding this first commercial deal from among Ai2’s various strategic development collaborations is a landmark moment in Ai2’s short history. Working with Sauflon will deliver a strong strategic partnership for Ai2 which will enable our anti-infectives technology to enter the growing ophthalmic products market."

Sauflon Pharmaceuticals Managing Director, Alan Wells, commented: "Sauflon is always on the lookout for new technologies which will provide additional benefits to our customers. Ai2’s new anti-infective peptide technology should enhance our product offering to our customers."
Medical technology investment specialist, MTI Partners is the lead investor in Ai2, and General Partner Dr. David Holbrook comments: "We’re delighted but not in the least bit surprised by Ai2’s success. We’ve keenly observed Ai2’s development over recent months, and have been impressed with the substantial technical and commercial progress made for such a young organisation.

"We have been particularly impressed with the way the company has focussed the technology on a small number of near term key applications, such as contact lenses and which has directly led to the deal with Sauflon.

"Concluding a first commercial deal is a seminal moment for any university spin-out company, and usually represents the culmination of years of hard work and investment. It’s something to be celebrated and we look forward to further deals emerging from Ai2’s various other on-going collaborative developments."