InhibOx Shortlisted for Prestigious Red Herring 100 Award
Oxford, 19 May 2011 – InhibOx announced today it has been selected as a Finalist for Red Herring's Top 100 Europe award, a prestigious list honouring the year’s most promising private technology ventures from the European business region.
The Red Herring editorial team selected the most innovative companies from a pool of hundreds from across Europe. The nominees are evaluated on both quantitative and qualitative criteria, such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their respective industries.
This unique assessment of potential is complemented by a review of the actual track record and standing of a company, which allows Red Herring to see past the “buzz” and make the list an invaluable instrument for discovering and advocating the greatest business opportunities in the industry.
"This year was very rewarding," said Alex Vieux, publisher and CEO of Red Herring. "The global economic situation has abated and there are many great companies producing really innovative and amazing products. We had a very difficult time narrowing the pool and selecting the finalists. InhibOx shows great promise therefore deserves to be among the Finalists. Now we’re faced with the difficult task of selecting the Top 100 winners of Red Herring Europe. We know that the 2011 crop will grow into some amazing companies that are sure to make an impact."
Paul Davie, InhibOx CEO, went on to add, "InhibOx is enormously proud to be included in such a prestigious, independent list of Europe’s top early-stage technology companies. The pharmaceutical and biotech sectors are undergoing radical change in the way they approach drug discovery. All companies are seeking new ways to make research dramatically more cost-efficient, and such change has to be driven by innovation. InhibOx’s pioneering use of cloud computing, coupled with its new screening methodologies, promises to be a game changer in this sector”.
Finalists for the 2011 edition of the Red Herring 100 Europe award are selected based upon their technological innovation, management strength, market size, investor record, customer acquisition, and financial health. During the several months leading up to the announcement, hundreds of companies in the telecommunications, security, Web 2.0, software, hardware, biotech, mobile and other industries completed their submissions to qualify for the award.
About InhibOx
InhibOx delivers novel and effective computational methods for drug discovery to improve the productivity of lead and candidate identification and optimization. The company is a pioneer in the application of cloud computing to drive very large scale computation at high accuracy, bringing for the first time truly rigorous computational drug discovery processes to bear in pharmaceutical and biotech research. InhibOx was founded in 2001 by Professor W. Graham Richards, former Chairman of Chemistry at the University of Oxford and world-leading computational chemist. The company grew from the outstandingly successful Screensaver Lifesaver project which involved some 3.5 million personal computers in over 200 countries: the world's biggest computational chemistry experiment finding lead compounds to inhibit cancer targets, anthrax and smallpox. Since then, InhibOx has built up a proprietary technology platform in computer-aided drug design, funded by VCs, private investors, Oxford University and EU grants. It has invested heavily over almost ten years to build Scopius: the world’s largest curated screening database of drug candidate molecules, containing 110 million multiple-conformation 3D structures, shape and charge descriptors, physical properties and commercial availability information. It has also developed proprietary fast molecular comparison technologies in receptor- and ligand-based virtual screening, fragment-based design methods and formulation modelling to drive lead identification and optimization studies in projects for customers in the USA and Europe. It is pioneering the use of cloud computing and Software-as-a-Service delivery methods to offer full-spectrum computer-aided drug discovery capabilities which have demonstrated dramatically improved results over traditional HTS and virtual screening methods.
Contact Details
www.inhibox.com
Email: contactus@inhibox.com
Tel: +44 1865 262000 (UK)
Tel: +1 (609) 651-5421 (US)