The White Rose Technology Seedcorn Fund, which is managed by Aberdeen Murray Johnstone Private Equity, is investing £245,000 in the establishment of Asterion Limited.
Asterion was previously a wholly-owned subsidiary of the University of Sheffield. Professors Richard Ross and Peter Artymiuk and Dr Jon Sayers research and develop drugs which aim to alleviate a range of hormone-related illnesses.
Gerry White, associate director of Aberdeen Murray Johnstone Private Equity, expects Asterion technology to have major advantages over current competitors. “It has a lower dose requirement, therefore making it more economical, and is a platform technology, that is, it can be used to develop a larger number of drugs for the therapy of a wide variety of diseases including rare pituitary tumours, diabetes and cancer,” he said.
The White Rose Technology Seedcorn Fund is a consortium of Leeds, Sheffield and York universities set up in March 1999. The £6m fund attracted £4.5m from the Government’s new University Challenge Fund, with the White Rose consortium adding a further £1.5m. The aim of the Fund is to create jobs by turning university research into real business opportunities.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: