OXFORD, England, January 29 /PRNewswire/ -- Circassia Ltd, a specialty
biopharmaceutical company focused on controlling immune system responses,
announced today that it has successfully raised GBP11 million ($21.8
million) in an oversubscribed second round funding. The investment
syndicate includes new investors Goldman Sachs and Invesco Perpetual, as
well as existing investors, including Imperial Innovations and Lansdowne
Partners.

    "Completing this financing is a testament to the potential of
Circassia's business, management and technology," said Steve Harris,
Circassia's CEO. "We have made good progress advancing our anti-allergy
products during the last year, and successfully completing this funding,
particularly in the current challenging market conditions, is a strong vote
of confidence from a syndicate of world-class investors."

    Circassia, whose immune control technologies target allergies and organ
rejection, completed an initial investment round of GBP6 million ($11.8
million) in January 2007. During the last year the company has finalised
preparations to complete the phase II clinical testing programme for its
lead product against cat dander allergy, and finalised the acquisition of
its ToleroTrans organ anti-rejection technology. Following this second
investment round, Circassia has increased its current cash balance to GBP15
million ($29.8 million), and plans to utilise the funds both to progress
its clinical development programmes and to acquire additional technologies
that fit its specialty business model.

    Circassia's products have the potential to address significant market
opportunities. Currently, over 150 million people suffer from allergic
rhinitis in the US and Europe, and existing treatments either provide
symptomatic relief only or require lengthy specialist physician supervision
over a period of many months due to potential serious, even
life-threatening, adverse reactions. In contrast, Circassia's technology
uses small sections of the allergen molecules responsible for causing
allergies (termed T-cell epitopes) to rapidly desensitize sufferers, while
minimizing the potential for adverse reactions. The company's ToleroTrans
technology uses a similar scientific approach designed to desensitize
transplant patients and thereby reduce the risk of organ rejection.

    About Circassia

    Circassia is a specialty biopharmaceutical company focused on
developing medicines designed to control immune system responses. The
company has a highly experienced management team with a proven track record
in product development and commercialisation, and having successfully
completed two substantial fundraising rounds is backed by a syndicate of
world-class venture capital and institutional investors.

    Circassia's lead products target allergies utilising the company's
proprietary T-cell epitope desensitization technology, which was originally
developed at Imperial College London. The company is also developing its
ToleroTrans organ anti-rejection technology, which uses a similar approach
to down-regulate immune responses in transplant patients. Circassia has a
number of ongoing development programmes, with the most advanced against
cat dander allergy having successfully completed a phase II clinical trial.

    For more information please visit http://www.circassia.co.uk.

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