publication date: Mar 6, 2012
|
author/source: Integra Communications
Mobius Life
Sciences Fund has announced an investment in XenoGesis Limited, the contract
research organisation (CRO) which provides laboratory-based services to
pharmaceutical clients engaged in drug discovery. Mobius' financing is part of
a £135,000 investment round in the fast-growing start-up company, which
includes loan funding from Nottingham City Council. The funds will be used for
working capital and investment in both laboratory and office IT infrastructure.
Mobius investment also comes with industry expertise in company growth.
Based in
BioCity Nottingham, XenoGesis specialises in pre-clinical drug metabolism and
pharmacokinetics (DMPK), quantitative bioanalysis and expert interpretation.
Their laboratory tests demonstrate how the human body might affect the way a
drug behaves. Backing this up with advice on how to modify the chemical
structure of a compound to make it more ‘drug-like' makes the XenoGesis service
attractive to global drug companies. Just four months since launch, the company
has already signed-up several international clients.
Director of
the Mobius Life Sciences Fund, Dr Glenn Crocker, says: "XenoGesis has already
shown its growth capability by winning significant contracts and exceeding its
early targets. The highly experienced and committed management team are
focussed and passionate about what they do. They are ambitious but also
realistic in their plans. I believe XenoGesis is just the kind of venture
Mobius Life Sciences is looking to invest in."
At a time
when the pharmaceutical sector is undergoing significant global restructuring,
smaller CROs such as XenoGesis are in great demand. Founder and Managing
Director Dr Richard Weaver left AstraZeneca Research and Development in
Loughborough to start his company which has already provided jobs for three
former senior colleagues.
"The
decision by Mobius Life Sciences to invest in the company has made an enormous
difference to our first months in business," says Richard. "We are off to
a flying start, and appreciate the confidence in our plans shown by the Fund.
With their expertise, contacts and sector knowledge, combined with the support
of BioCity Nottingham, we expect to have a very successful first year of
trading."
Mobius
Life Sciences Fund
The Mobius
Life Sciences Fund is the first investment fund in the Midlands region
dedicated to the life sciences sector. It is operated by a subsidiary of
BioCity Nottingham Limited and receives its investment funds directly from
BioCity.
Mobius
provides seed level equity investment into early stage bioscience,
pharmaceutical, medical technology and healthcare businesses.
The Fund
leverages this early stage investment through a collaboration with Nottingham
City Council, which provides unsecured loan finance to investees, and by
supporting businesses to use the investment to match against grant and other
funding.
Mobius adds
further value to investee companies by taking a seat on the Board of Directors
and using an extensive industry network to access advice and support to the
business.
Mobius will
also co-invest alongside other early stage investors, including business
angels, and will act as a feeder to later stage funds.
For further information visit
www.mobiuslifesciences.com
About
BioCity Nottingham Ltd
BioCity
Nottingham Ltd has developed and operates one of the largest bioscience
incubators in Europe. Home to around 70 early-stage businesses it is a hot-bed
of entrepreneurial activity in the sector. As well as providing very flexible
laboratory and office facilities, BioCity Nottingham is able to provide on-site
a whole range of non-core but vital services to businesses which would
otherwise be costly and inefficient for them to develop in-house. This ensures
that companies with BioCity Nottingham have maximum opportunity for success and
investors see the most efficient use of their funds.
For more information go to
www.biocity.co.uk
About
XenoGesis Limited
XenoGesis
Limited, a contract research organization (CRO), specialises in expert
DMPK/ADME laboratory services and interpretation and Drug Discovery
consultancy. The XenoGesis team has significant experience and track
record of delivering candidate drugs to man from their careers at AstraZeneca
R&D Charnwood. XenoGesis will support the Drug Discovery activities
of Biotechnology and Pharmaceutical companies and academic units.
Visit
www.xenogesis.com for more information
Richard
Weaver, XenoGesis, Founder/Managing Director, +44 (0)115 837 0626,
richard.weaver@xenogesis.com