NU/1246-5 PEPMOTEC (2) Commercialisation of university research through provision of management skills to assist in successful spin-out company creation

Tender description

Dr Steven Cobb of Durham University has developed a novel chemical synthesis pathway that overcomes some well-known limitations of current methods of producing modified and cyclic therapeutic peptides. The proposal is to set up a company ("Pepmotec") to exploit the commercial opportunities presented by a core technology platform which is protected by two related patent families. The technology has considerable potential for use in the production of novel peptides for drug discovery as well as re-engineering existing candidate therapeutic peptides and established protein therapeutics to enhance stability, safety and effectiveness. The business will initially seek to use its core IP and know-how to design and manufacture novel peptides on a fee-for-service basis and develop business for this service from among the large and diverse community of peptide development and pharma companies in the UK and internationally. Once the technology becomes better established and validated we believe there is significant potential to develop novel IP rich compounds through strategic collaborations with pharma companies, licensing out the technology and possibly even having an R&D programme for the company. The initial brief of the executive will be to: (a) Review existing business aims and produce a viable business plan; (b) Act for the company during formation in legal processes and address all company matters post-formation; (c) Secure (venture capital or other) funding or a customer funded work programme Phase (c) will produce the funds by which the new start-up company can remunerate the executive going forward. It is expected, and the intent of the scheme, that the Executive will remain with the business following the end of the contract period.