Oncology drug developer acquired for £5.5m
Roquefort Therapeutics, an early-stage biotech company, has completed the acquisition of Stratford-upon-Avon-based Oncogeni for £5.5m, creating a material oncology company based out in the Midlands.
Founded by Nobel laureate Sir Martin Evans, Oncogeni develops novel cell and RNA-based cancer medicines, which the board of Roquefort Therapeutics believes is complementary to the company’s existing pre-clinical drug development business.
Roquefort has raised more than £1m in a share placing to finance Oncogeni’s pre-clinical drug development programs and provide more working capital.
Stephen West, Executive Chairman of Roquefort Therapeutics said the move, “pivots Roquefort Therapeutics into a material oncology biotech company with a pre-clinical anti-cancer portfolio that is patent protected and fully funded to clinical trial submission.
“In addition to the exciting portfolio, Roquefort Therapeutics now has a state-of-the-art laboratory and manufacturing facility which provides the group with major cost saving and time advantages as we progress through the pre-clinical stage of development”.
In addition to the acquisition, Roquefort Therapeutics has also announced Trevor Ajanthan (Ajan) Reginald as it’s new CEO, Professor Sir Martin Evans as Group Chief Scientific Officer, Dr Darrin Disley as Non-Executive Director and Professor Armand Keating FRCPC, MD as an independent Chief Medical Advisor (as a non-board position).
