Developer of therapies for chronic respiratory disease. The company's therapeutic interests are in chronic obstructive pulmonary disease (COPD), cystic fibrosis and severe asthma. In November 2002 the company acquired the core respiratory pre-clinical research group from the international pharmaceutical company Bayer. This acquisition also brought a number of assets including some disease models of COPD as well as proprietary automated screening and imaging technologies for following the progression of COPD in these models. The company has built a flexible drug discovery pipeline and aims to apply this knowledge to drive both its own internal drug discovery programme and to partnering this expertise with pharma. A central component to the company's drug discovery pipeline is the development, refinement and exploitation of in vivo models of human disease.