Molecular Profiles, one of The University of Nottingham’s longest established spin-out businesses, has been purchased by Columbia Laboratories, Inc. (Nasdaq: CBRX) of Boston, for approximately $25m (£16m).
The company was established in 1997 by an academic group at The University of Nottingham’s School of Pharmacy, who identified an opportunity to deliver sophisticated analytical and development solutions to meet the growing needs of the pharmaceutical industry.
Molecular Profiles offers innovative pharmaceutical development services (such as formulation and clinical manufacturing), as well as providing advanced material characterisation and expert consultation for Intellectual Property (IP) issues. Molecular Profiles’ clients range from large multinational pharmaceutical companies to specialised drug-delivery firms and biotechs.
A University success story
Molecular Profiles’ co-founder and former Chairman, Professor Martyn Davies from The Pharmacy School at The University of Nottingham, has been appointed as an advisor to Columbia Laboratories’ Board of Directors. Speaking about the sale of the business to Columbia, he said: “Molecular Profiles is a real success story for The University of Nottingham. It is a spin-out from a University research laboratory, and, in addition, it has been the winner of two Queen’s Awards and now employs over 50 people, many of whom are bright young graduates from the University.
“The sale represents a great opportunity to combine with a proven pharmaceutical company to strengthen all aspects of our business. It also gives us a strong base in the USA and provides an opportunity to increase our activities, achieve our vision and take the company to the next stage.”
Dr Susan Huxtable, Director of IP Commercialisation at The University of Nottingham, added: “This deal is great news for both Molecular Profiles and The University of Nottingham. With Columbia Laboratories as its parent organisation, Molecular Profiles now has the support of a business with huge experience in the pharmaceutical sector which will enable it to enter new international markets.
Knowledge and expertise valued by industry
“The sale also demonstrates that the knowledge and expertise emerging from The University of Nottingham is highly valued by industry, and underlines the contribution that the commercialisation of university expertise and know-how can make to the economy and society.”
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Posted on Thursday 19th September 2013