US private equity firm Vector Capital has backed the spin-out of drug software company Tripos Discovery Informatics from parent company Tripos, in a deal worth approximately $26 million (€19 million).
Tripos works with pharmaceutical companies and research facilities to identify compounds that could become drug products.
Jim Hopkins has been appointed chief executive of Tripos, while Richard Cramer becomes chief scientific officer and Robert Clark vice-president of research. Cramer was vice-president for science at Tripos for the past 24 years, and is best known for the invention of 3D modelling technology CoMFA.
Jim Hopkins is the former chairman and chief executive of Micrografx, a Nasdaq-listed graphics software company.
Vector Capital said in a statement that Tripos is known for “a maniacal dedication to scientific excellence”.
SVB Silicon Valley provided Vector with $19 million in senior secured debt.
Vector Capital specialises in buyouts, spinouts and recapitalizations of established technology businesses. Its investments include Savi Technology, LANDesk Software and the Corel Corporation.