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University-Industry Engagement Advisor

U of Nottingham cancer research start-up acquired for £3.6 million

By Jesse Schwartz
Published: June 27th, 2018

The University of Nottingham has cashed out for £3.6 million (over $4.7M US) through the sale of its shares in a cancer research start-up.

The Japanese company JSR Corporation has acquired CrownBio, which is using pre-clinical cancer models developed at the university to boost the chances of success for cancer drug development. The acquisition will allow CrownBio’s technology to have an even greater global impact on more drug development programs.

“We are proud to be making such a huge difference to the lives of patients, not just in Nottingham but globally,” says John Atherton, pro-vice chancellor and dean of the university’s Faculty of Medicine. “The commercial success of CrownBio Inc. is further demonstration of the excellence arising from the university’s medical school and another way for us to help patients.”

The University of Nottingham has spun out more than 20 companies ranging from early stage to publicly traded businesses through its commercialization arm Nottingham Technology Ventures.

“The sale of shares in CrownBio is the third exit from the medical school’s spinout portfolio this year and is in line with the university’s policy to realize value from its equity in listed companies,” says Andrew Naylor, CEO of Nottingham Technology Ventures.

“This has been a fantastic year for the university’s School of Medicine and for our staff who work so hard to make a difference,” says Tony Avery, dean and head of the School of Medicine. “We know that this will be the catalyst for further commercial activity from the school and we are looking forward to increasing our impact in the coming years.”

Source: Insider Media Limited

Posted under: Tech Transfer e-News

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