Biotech company Domainex has secured over £1m of investment in order to develop its pipeline of drugs and continue its research.
The company, which is a spin-out from University College London, has received £790,000 from Longbow Capital LLP and £250,000 from the Capital Fund. The latest funding round brings Longbow’s total investment in the business to £1.15m.
Domainex’s portfolio will initially focus on cancer treatments and it is currently in discussion with major pharmaceutical companies about licensing agreements.
Dr Eddy Littler, chief executive officer of Domainex, said: “We are delighted to have attracted this investment, particularly in a challenging fundraising environment.
“Our objective now is to realize the full value of our unique biology and build a portfolio of targets that we will out-license to clients - at an early stage, in the case of key reagents and X-ray crystal structures, and at a later stage with our associated lead series of inhibitors.”
© Crimson Business Ltd. 2008
