Nov 16, 2022

publication date: Mar 6, 2012  |  author/source: Integra Communications Mobius LifeSciences Fund has announced an investment in XenoGesis Limited, the contractresearch organisation (CRO) which provides laboratory-based services topharmaceutical clients engaged in drug discovery. Mobius' financing is part ofa £135,000 investment round in the fast-growing start-up company, whichincludes loan funding from Nottingham City Council. The funds will be used forworking capital and investment in both laboratory and office IT infrastructure.Mobius investment also comes with industry expertise in company growth. Based inBioCity Nottingham, XenoGesis specialises in pre-clinical drug metabolism andpharmacokinetics (DMPK), quantitative bioanalysis and expert interpretation.Their laboratory tests demonstrate how the human body might affect the way adrug behaves. Backing this up with advice on how to modify the chemicalstructure of a compound to make it more ‘drug-like' makes the XenoGesis serviceattractive to global drug companies. Just four months since launch, the companyhas already signed-up several international clients. Director ofthe Mobius Life Sciences Fund, Dr Glenn Crocker, says: "XenoGesis has alreadyshown its growth capability by winning significant contracts and exceeding itsearly targets. The highly experienced and committed management team arefocussed and passionate about what they do. They are ambitious but alsorealistic in their plans. I believe XenoGesis is just the kind of ventureMobius Life Sciences is looking to invest in." At a timewhen the pharmaceutical sector is undergoing significant global restructuring,smaller CROs such as XenoGesis are in great demand. Founder and ManagingDirector Dr Richard Weaver left AstraZeneca Research and Development inLoughborough to start his company which has already provided jobs for threeformer senior colleagues. "Thedecision by Mobius Life Sciences to invest in the company has made an enormousdifference to our first months in business," says Richard. "We are off toa flying start, and appreciate the confidence in our plans shown by the Fund.With their expertise, contacts and sector knowledge, combined with the supportof BioCity Nottingham, we expect to have a very successful first year oftrading." MobiusLife Sciences Fund The MobiusLife Sciences Fund is the first investment fund in the Midlands regiondedicated to the life sciences sector. It is operated by a subsidiary ofBioCity Nottingham Limited and receives its investment funds directly fromBioCity. Mobiusprovides seed level equity investment into early stage bioscience,pharmaceutical, medical technology and healthcare businesses. The Fundleverages this early stage investment through a collaboration with NottinghamCity Council, which provides unsecured loan finance to investees, and bysupporting businesses to use the investment to match against grant and otherfunding. Mobius addsfurther value to investee companies by taking a seat on the Board of Directorsand using an extensive industry network to access advice and support to thebusiness. Mobius willalso co-invest alongside other early stage investors, including businessangels, and will act as a feeder to later stage funds. For further information visit www.mobiuslifesciences.com AboutBioCity Nottingham Ltd BioCityNottingham Ltd has developed and operates one of the largest bioscienceincubators in Europe. Home to around 70 early-stage businesses it is a hot-bedof entrepreneurial activity in the sector. As well as providing very flexiblelaboratory and office facilities, BioCity Nottingham is able to provide on-sitea whole range of non-core but vital services to businesses which wouldotherwise be costly and inefficient for them to develop in-house. This ensuresthat companies with BioCity Nottingham have maximum opportunity for success andinvestors see the most efficient use of their funds. For more information go to www.biocity.co.uk AboutXenoGesis Limited XenoGesisLimited, a contract research organization (CRO), specialises in expertDMPK/ADME laboratory services and interpretation and Drug Discoveryconsultancy. The XenoGesis team has significant experience and trackrecord of delivering candidate drugs to man from their careers at AstraZenecaR&D Charnwood. XenoGesis will support the Drug Discovery activitiesof Biotechnology and Pharmaceutical companies and academic units. Visit www.xenogesis.com for more information RichardWeaver, XenoGesis, Founder/Managing Director, +44 (0)115 837 0626, richard.weaver@xenogesis.com Related Articles: