University of Manchester drug development spin-out C4X Discovery AIMS high
C4X Discovery (C4XD), a drug development company with a leading technology for rational drug discovery and design has successfully floated on the AIM market of the London Stock Exchange with approximately £31M placed. C4XD is backed by life science investor, Aquarius Equity Partners. Zeus Capital acted as nominated adviser and broker.
C4XD’s technology is understood to be the only one in the world that can generate accurate, experimentally-derived dynamic solution 3D structures of drug molecules in just a matter of days. The Company is applying its unique technology to improve the efficiency of the drug discovery process, both in partnership with the pharmaceutical industry and across its own pipeline of high-value therapeutic targets.
Clive Rowland, CEO of UMI3 Ltd, the University’s innovation company, comments: ”We are delighted to see that the plan for the floatation has been successfully realised. It is very encouraging for us to see a project which was discussed over a coffee table some seven years ago and which the University supported though its Proof-of-Principle Programme and which was subsequently housed in our Innovation Centre for a few years, get to the stage of significant funding like this to take the Company further forward. We believe that C4XD has amazing science which will have an enormous positive and practical impact on healthcare in the near future. It’s a great example of what makes our work so rewarding from both the business and society benefit perspectives.
”We are particularly grateful to Duncan Peyton at Aquarius for seeing the potential in C4XD’s technology and for supporting the work after the proof-of-principle phase and his personal commitment to the Company’s business development.”
Funds raised will principally be used to progress two of C4XD’s programmes through to clinical trials, towards generating Proof-of-Concept in man as well as continuing to apply its technology to other high-value areas with high unmet medical need.
For further information on C4XD, please see www.c4xdiscovery.com/
For further info on UMI3, please see www.umi3.com