Cardiff spinout Nanotether Discovery Science has been acquired for $340,000.

Nanotether Discovery Science, a biotechnology spinout of Cardiff University, was acquired by medical device manufacturer Belluscura yesterday for £265,000 ($340,000).

Belluscura has obtained all intellectual property, cash reserves and tangible assets of Nanotether, but will not retain any of the spinout’s employees or consultants.

Founded in 2012, Nanotether has developed technology to accelerate the rate at which interactions between proteins and drug candidates can be studied. It is based on research by Trevor Dale, Adrian Harwood and Paola Borri from the School of Biosciences.

The company was spun out through commercialisation firm Fusion IP, since acquired by its peer IP Group.

Fusion IP participated in a £2.2m seed round in 2012 alongside angel investor Andrew Black.

Bob Rauker, chief executive of Belluscura, said: “We are delighted to complete this acquisition which will further enhance Belluscura’s assets.”