New Funding Enables Cambridge Biotech Company to Accelerate Growth
News May 17, 2006
Activotec has recently completed a significant funding round to enable it to accelerate the growth of the company.
Activotec, which has its trading base in Cambridge (UK) and an R&D and production facility in Southampton (UK), was founded in 2002 as a spin out from the University of Southampton. Activotec is a customer-focused company providing high technology products and services for chemistry and biochemistry applications. Activotec provides a complete range of products and services for peptide and protein synthesis.
The money was raised quickly through a syndicate mainly composed of private high net worth investors, was significantly oversubscribed and had to be scaled back.
Activotec chief executive, Chris Littlewood, commented: "The funds will be invested in further research and development while expanding our current business. This will assist us in our dual strategy of creating and licensing technology to drug developers while also quickly growing our custom peptide and synthesiser sales."
Activotec develops novel methods for the synthesis of peptides and proteins and provides innovative custom synthesis services, instrumentation and chemicals for chemical research and development. Its mission is to establish Activotec as the partner of choice for peptide-based drug discovery.
As genome editing technologies advance toward clinical therapies, they are raising hopes of a completely new way to treat disease. However, challenges need to be addressed before potential treatments can be widely used in patients. To tackle these challenges, the National Institutes of Health has launched the Somatic Cell Genome Editing program, which has awarded multiple grants including more than $3.6 million to assess the safety of genome editing in human cells and tissues.