Corticrine, a life science spin-out of Edinburgh BioQuarter, has been acquired by Australian biotech Actinogen for an undisclosed sum. The deal was introduced and facilitated by Alan Boyd of pharmaceutical consultancy Boyds.
Corticrine, which focuses on mid-stage pharmaceutical research and development, has identified a treatment and prevention for Alzheimer’s disease. The treatment, dubbed UE2323, has been licensed from Edinburgh University’s College of Medicine and Veterinary Medicine.
The spin-out received funding from the Wellcome Trust in the past, but sought an exit when funding dried up. Actinogen’s acquisition of the company means significant funding will now be available to support clinical trials of the drug.
Edinburgh BioQuarter is a bioscience research facility supported by Edinburgh University, Scottish Enterprise, NHS Lothian and Alexandria Real Estate Equities.
Bill Blair, head of business creation at Edinburgh BioQuarter, said: “The deal is indicative of the innovative approaches adopted by Edinburgh BioQuarter to commercialise novel intellectual property from Edinburgh University’s College of Medicine and Veterinary Medicine.”
