RCT Forms New Bioventure in the United Kingdom.

Health/Medical Writers

TUCSON, Ariz.--(BW HealthWire)--March 1, 2000

Research Corporation Technologies (RCT) has launched a cooperative venture with Cambridge-based Emerging Technology Services Limited (ETS) to support early development of promising biomedical and life sciences discoveries in the United Kingdom and Ireland.

The new RCT-backed fund (8M pound), Cambridge Research BioVentures Limited (CRB), will be based in Dublin, Ireland. ETS Managing Director Chris Keightley is the managing director of the new fund. ETS is a new company that provides support services to technology investment funds.

Keightley also is director of life sciences at Cambridge Research and Innovation Limited (CRIL), one of Cambridge's best-known early-stage venture investors. CRIL and RCT will work together closely to identify new technologies best suited for investment through CRB.

Keightley brings broad business experience and a strong scientific background to CRB. He has many long-standing contacts with U.K. academic institutions and companies, and venture and institutional finance organizations.

He received doctoral and master's degrees in biochemistry and completed post-doctoral work at the University of Cambridge. With the backing of local entrepreneurs, Keightley formed IQ (Bio) Ltd., which developed a highly sensitive enzyme detection technique that became the basis for a commercial venture producing novel immunodiagnostic products.

Following the sale of IQ (Bio), which now operates as the U.K. division of DAKO Diagnostics, Keightley founded and managed Beronthorn Venture Management Ltd. for advising small, high-tech companies. He subsequently became managing director of one of his client companies, Albion Botanicals Ltd.

At Albion, Keightley restructured and refinanced the company and negotiated its sale to a multinational corporation.

"Chris has a well-tuned sense of commercial viability and makes sound assessments of commercial opportunities," said RCT President Gary M. Munsinger. "CRB will benefit from his abilities and his reputation."

RCT (www.rctech.com) in Tucson, is an independent technology management company that commercializes technologies from universities and research institutions throughout the world. RCT's commercialization vehicles include licensing, partnerships, seed investments and venture development of early-stage technologies.

CRB is the first European extension of RCT's global 21st Century Venture Initiative. Through this program, a network of international partners finds and develops promising biomedical and life sciences inventions from research centers worldwide.

In the United States, RCT BioVentures NE (www.rctbvne.com) identifies and supports early-stage biomedical innovations in New England and BioVentures West (www.rctbvw.com) targets technologies from research institutions in the West.

Milestone Medica (www.milestonemedica.com) is a partnership between RCT and Canada's Royal Bank Ventures Inc. that seeks discoveries from Canadian universities and research institutions. BioVentures Australia joins the resources of RCT and the venture capital company, Start-up Australia (www.start-up.com.au), to focus on innovations from Australian research institutions.