UNIC (Pharmacy Programme) Signs MoU with MedVenom

The Pharmacy Programme of the University of Nicosia and the start-up company MedVenom Ltd have entered into a Memorandum of Understanding for the development, support and transfer of know-how in the field of peptides from venomous endemic species

The Memorandum of Understanding (MoU) was signed on behalf of MedVenom Ltd, by Mr. Socrates Tsinoglou, and by the Head of the Department of Life and Health Sciences at the University of Nicosia, Dr. Kyriakos Felekkis.

MedVenom Ltd is the first company in Cyprus and indeed the broader region to specialise in venoms. The company aims to isolate, evaluate and exploit venoms from endemic species of Cypriot fauna and flora. Over the past few years, venoms from various organisms have generated worldwide interest, with researchers engaged in discovering and developing therapeutic treatments for various diseases. In addition, such venoms are widely applied in cosmetology and the agrochemical industry.

The Memorandum of Understanding has a duration of three years. Through this, the parties commit to engaging in joint research activities in the field. For its part, the University of Nicosia, and the Peptide Chemistry Unit of the Pharmacy Programme in particular, will be supporting the broader efforts of MedVenom, primarily via knowledge transfer.

Commenting on the development, Dr. Felekkis highlighted the significant research potential attached to this excellent initiative. He congratulated Assistant Professor Dr Yiannis Sarigiannis and Mr. Socrates Tsinoglou, as well as the MedVenom associates, Michalis Pidiaris and Alexandros Georgiades, for cultivating the collaboration and developing the parameters of the agreement. In conclusion, he underscored that the University of Nicosia actively supports start-up companies, especially ones with a clear and vital role to play in academia and society.

Photo: From left to right: Dr. Yiannis Sarigiannis, Dr. Kyriacos Felekkis, Socrates Tsinoglou, Alexandros Georgiadis and Michalis Pierides.