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April 8-14 2002, European Chemical News
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Making its mark
FITs like a glove
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Typical of the new breed of biotech company based in Tampere is FIT Biotech, established in 1998 under its former name Finnish Immunotechnology, to focus on innovative medical biotechnology products. Its owners include a number of Finnish venture capital funds - Sitra, Biofund Management, Concordia Capital, Sentio Invest, Aboa Venture Management and Thomproperties - in addition to its own management.
FIT Biotech employs 47 in Finland and Estonia, but it also has access to a network of over 20 leading scientists in seven other countries. "It is a young company, but the management expertise and science and technology of product programmes dates back to the 1980s and 1990s," says chief executive and president Pekka Sillanaukee, a scientist whose career has included management positions across the international biotechnology, pharmaceutical and diagnostics industries and consultancy to the World Health Organisation.
For the longer term FIT Biotech is targeting the development of DNA vaccines and gene therapy products using its proprietary "gene transport unit" (GTU), a novel gene transfer and expression technology. It gained a manufacturing licence for DNA vaccines in December 2000 and opened a "centre of excellence" for vaccine design and preclinical development in Tartu, Estonia, in January 2001. At the end of last year, a therapeutic and preventative vaccine against HIV, based on its GTU technology, entered a phase I/II clinical trial in Finland.
In parallel, and with the prospect of shorter-term revenues, it is pursuing a separate line in diagnostics. It has already succeeded in commercialising its first product - the FITkit - an immunological test to determine latex allergens in natural rubber products such as the gloves and masks worn by healthcare professionals. The kits, launched last December, are intended for use by the manufacturers and distributors of natural rubber products.
Latex allergy is a growing problem affecting 8-12% of healthcare workers, who, with increased exposure to rubber products, have a tendency to become sensitised, and up to 1% of the general population. Four kits have been developed, each to determine one of the four latex allergens that have been identified as being clinically relevant. Each kit uses specific monoclonal antibodies developed against the specific allergen.
FIT Biotech believes the kits offer significant advantages over previously available detection methods and that the future market looks promising. "Regulatory bodies are interested in setting limits for allergens in natural rubber products. This will require manufacturers to check the levels in their products", says Tytti Kärkkäinen, vice president, diagnostic development and production.
The new kits have been developed in conjunction with a major glove manufacturer.
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