|15 December 2015|
A biomaterials company based at BioCity Scotland has successfully licensed world-leading technology from the University of Strathclyde.
Biogelx Ltd has secured an exclusive, global deal for the tripeptide technology allowing it to expand into regenerative medicine, cell-based therapy and drug delivery applications, with annual market value of over $3 billion.
The young and dynamic company is already developing and supplying highly tuneable, cell-matched biomaterials to a global market. These materials are capable of revolutionising the way cell biologists control and manipulate cell behaviour, as they seek to understand and tackle a wide range of health conditions, including nerve, bone and cartilage repair.
The new technology was recently perfected at the University of Strathclyde by Professor Rein Ulijn and Dr Tell Tuttle. Biogelx, itself a Strathclyde University spin-off, is now scaling its business to reach an international customer base, through partnering arrangements with global distributors and leading pharmaceutical companies.
As a result of securing this worldwide exclusive license for the unique tripeptide technology, the company plans to extend its laboratory-based business into the clinic and provide therapeutic solutions in the areas of regenerative medicine and drug delivery. Biogelx now plans to occupy larger laboratory space at BioCity Scotland and to double the headcount by the end of 2016.
Earlier this year, the company established a US subsidiary, Biogelx Inc. in New York. This new base has allowed the company to further expand into the highly lucrative North American market – currently the biggest suppliers of regenerative medicine therapies.
Dr David Lightbody, CEO of Biogelx Ltd, said “It’s been a thrilling year for Bioglex and securing this first of a kind technology is a game changer for us. We now have a fantastic platform to extend our activities from laboratory-based into direct clinical applications and export our technology into worldwide markets.”
Dr Diane Harbison, managing director of BioCity Scotland in Newhouse said: “We are delighted to support the continued growth and success of one of our first tenants. BioCity Scotland is the perfect incubator for life sciences companies to flourish and Biogelx is the perfect example of what can be achieved in this environment.”