Spin out | Funding
US biotech Stemgent Inc has announced the formation of Ubiquigent Ltd, in Dundee, Scotland, and plans to invest approximately £3 million in the new venture over the next three years.
Ubiquigent will be responsible for commercialising biological products and services developed at the Scottish Institute for Cell Signalling (SCILLS) at the University of Dundee. SCILLS specialises in an emerging area of cell signalling called protein ubiquitylation. Abnormalities in this signalling pathway underlie some cancer and chronic inflammatory and autoimmune diseases.
The head of SCILLS Philip Cohen said, “The initial aim of SCILLS has been to build up a critical mass of leading scientists researching the ubiquitin system. The longer term aim is to attract new biotechnology companies to Scotland and to facilitate the development of improved drugs to treat diseases that target components of the ubiquitin system.”
Working with SCILLS, Ubiquigent will develop reagents for use in drug discovery in the field.
Stemgent currently specialises in providing reagents and tools for use in stem cell research. The company is based in Boston, Massachusetts.
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