Phion Therapeutics - Administration

Phion Therapeutics, a Belfast-based biotechnology company specializing in the development of ground breaking nucleic acid vaccines and therapeutics, entered administration on 23 September. 

Phion’s lead product is a therapeutic vaccine against HPV driven cancers (PTX_V1) and pipeline programs include therapeutic vaccines against ovarian cancer (PTX_V5), prostate cancer (PTX _V3), and a prophylactic vaccine against Crimean-Congo Haemorrhagic Fever.

The company also has a number of patents relating to its innovative delivery system which aims to improve the effectiveness of vaccines and treatments by generating strong and lasting immune responses.

The reasons for its financial difficulties have yet to be revealed.

James Neill and John Donaldson of KPMG Ireland were appointed joint administrators.

Innovate UK Loans has a registered charge against the company.