Ziylo acquired by Novo Nordisk for over USD800m.
Global Banking News-August 17, 2018-Ziylo acquired by Novo Nordisk for over USD800m
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Science company Unit DX disclosed on Friday that its anchor tenant Ziylo has been acquired by Novo Nordisk A/S in an agreement that could exceed USD800m.
Upon closing, Novo Nordisk acquires the full rights to Ziylo's glucose binding molecule platform to develop glucose responsive insulins (GRIs). A GRI would help eliminate the risk of hypoglycaemia, the main risk associated with insulin therapy and one of the main barriers to achieving optimal glucose control.
In conjunction with the acquisition, certain research activities have been spun out of Ziylo to the newly formed company, Carbometrics.
Additionally, Carbometrics has signed a research collaboration with Novo Nordisk to assist with ongoing optimisation of glucose binding molecules for use in GRIs.
Carbometrics has licensed rights to develop non-therapeutic applications of glucose binding molecules, with a focus on developing continuous glucose monitoring applications. It will remain on the Unit DX site in Bristol.
Ziylo is a supramolecular chemistry company that has developed a third 'biomimetic' class of glucose binding molecules (GBMs). The platform technology is based on over 20 years of cutting-edge research pioneered by Professor Anthony Davis' group at the University of Bristol. Ziylo was founded by (director) Professor Anthony Davis, (CFO) Tom Smart and (CEO) Dr Harry Destecroix. Other directors include Keith MacDonald, the chairman and the primary investor and Dr Andrew Chapman (CSO).
((Distributed via M2 Communications - http://www.m2.com))
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|Publication:||Global Banking News (GBN)|
|Date:||Aug 17, 2018|
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