Horizon Discovery signs key agreements with Cambridge Enterprise Seed Funds and the Univer...


23-07-2007

Horizon Discovery today announces the closing of two deals to progress the commercialisation of isogenic cell lines for the discovery and development of new anticancer agents.

Cambridge Enterprise Seed Funds (CESF) is supporting Horizon Discovery with a convertible loan to continue marketing existing, and custom generated, isogenic cell-lines and supporting services to the pharmaceutical industry - the first commercial service of its kind in the world.

Additionally, The University of Washington has granted Horizon Discovery a license to technology that is central to the efficient generation of isogenic cell-lines.

Horizon has already made significant progress in attracting the interest of potential customer and partner pharmaceutical companies, and anticipates that with the support of CESF and technology from The University of Washington, it will make rapid progress in accessing this market.

About Horizon Discovery
Horizon Discovery is a new translational genomics company founded at the beginning of 2005, and based in Cambridge UK. Horizon’s goal is to convert new information on the genetic causes of cancer into laboratory models that will facilitate the discovery of drugs that target these defects.

Central to this aim will be Horizon Discovery’s offering of isogenic cell-lines, which represent accurate models of defined cancer patient populations and their matched normal genetic backgrounds – a missing link in the rational and efficient development of novel targeted anti-cancer agents.

Chris Torrance, CSO of Horizon Discovery said, “We are delighted to have Cambridge Enterprise as partners and advisors in commercialising this novel enabling technology and we are grateful to The University of Washington for providing a license to a key innovation in the production of isogenic cell-lines, which we believe can significantly impact modern cancer drug discovery and the study of other genetic diseases”.
Further information on Horizon Discovery can be found at: www.horizondiscovery.com

About Cambridge Enterprise Seed Funds
Cambridge Enterprise Seed Funds provides funding for early stage businesses that have been founded by researchers at the University of Cambridge. Cambridge Enterprise Seed Funds comprises the University Challenge Fund and Venture Fund. The University Challenge Fund was established in 2000 with start up funds from the University of Cambridge, the Wellcome Trust, the Gatsby Foundation and the Office of Science & Technology. Cambridge Enterprise Seed Funds works alongside Cambridge Enterprise Limited.

Cambridge Enterprise Limited facilitates the commercial development of intellectual property (IP) developed at the University of Cambridge. Cambridge Enterprise is one of the United Kingdom’s leading knowledge transfer offices, licensing patents and other IP to existing companies, both large and small as well as to spinouts formed to exploit University technology. For the academic year ending 2006, 61 licences were entered into and income from licensing exceeded £3.3 million. Additionally consultancy agreements generated £2.9 million.

Working together with angels, venture capital funds, University staff and students, Cambridge Enterprise facilitates the formation of around thirty new companies each year (about five of which are based on University-owned intellectual property).

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Further information on Cambridge Enterprise can be found at: http://www.enterprise.cam.ac.uk

 

Cambridge Enterprise exists to help University of Cambridge inventors, innovators and entrepreneurs make their ideas and concepts more commercially successful for the benefit of society, the UK economy, the inventors and the University.

Cambridge Enterprise, University of Cambridge