A BRISTOL University firm has struck a deal worth up to £140 million for its multiple sclerosis treatments.

Apitope, founded by Professor David Wraith in the University's Department of Cellular and Molecular Medicine, has granted exclusive world- wide rights to firm Merck Serono to develop and commercialise Apitope's "peptide therapeutic product".

The product helps to slow the effect of multiple sclerosis – a condition which inflames the nervous system.

While symptoms can vary, the most common symptoms of MS include blurred vision, numbness or tingling in the limbs and problems with strength and co-ordination.

Under the terms of the agreement, Apitope will receive an upfront payment and will initially be responsible for the further development of the product, for which Merck Serono will fund the costs.

Merck Serono will be responsible for all development activities from the beginning of clinical trials. The company will also provide committed funding to Apitope for research on other novel therapeutic peptides for the treatment of MS.

Dr Neil Bradshaw, director of enterprise at the university, said: "The agreement marks a significant step forward for Apitope.

"It is a milestone for enterprise at the university, especially in our involvement in developing the technology from the laboratory to the market place. It is also further evidence of the significant economic impact of research conducted here at Bristol."

Apitope operates from the SETsquared Business Acceleration Centre at the University of Bristol.

It has benefited from the extensive support activities of Nick Sturge and his team.

Nick Sturge, centre director, said: "This is an exciting boost for Bristol as it demonstrates the world-leading biotech research and development that is being carried out here.

"Combined with Apitope's recent 10 million euro investment, this deal confirms the positive impact that we can have in helping businesses to grow."