InhibOx Closes Successful Funding Round to Fund New Premises and International Growth
InhibOx builds momentum on the back of recent successes
Oxford, UK, June 17th 2011. InhibOx Ltd, the specialist in novel and effective computational methods for drug discovery, today announces the successful completion of its latest funding round. The company was supported by its existing shareholders, including IP Group plc, the University of Oxford, Angel investors and the management team. The investment round was fully subscribed.
InhibOx CEO, Paul Davie, was delighted with the outcome, “InhibOx has made fantastic strides over the last twelve months—forging important strategic partnerships, bringing through exciting new drug discovery technology and delivering successful projects to customers in the US and Europe. We have built fantastic momentum, which has been recognized fully by our shareholders”.
InhibOx will use the funds raised to support a move to new corporate headquarters at The Oxford Centre for Innovation, from where they will run development and European commercial operations. They will also be investing in developing their service operations in the US, from their base in Princeton, New Jersey.
About InhibOx
InhibOx, based in Oxford, UK and Princeton, NJ, 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 large-scale 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) 262-000 (UK)
Tel: +1 (215) 987-5089 (US)