CXR likes concept of acquisition

CXR Biosciences, a toxicology spinout of Dundee University, has been acquired by UK-based scientific laboratory and consultancy Concept Life Sciences for an undisclosed amount.

Founded in 2001, CXR provides preclinical services, focusing on designing and performing experiments that evaluate the potential toxicities of treatments to humans.

All of the spinout’s 33 staff will transfer to Concept Life Sciences and the offices will remain in Dundee. CXR’s chief executive Paul Smith will continue to lead the team.

CXR raised £3.3m ($5.2m) in funding from backers including angel network Archangel Informal Investment, and Scottish Investment Bank, the investment vehicle of Scottish Enterprise.

Paul Smith said: “CXR will be run as a business unit of Concept Life Sciences, and our operations will continue without interruption from our base in Dundee, butcrx with the added benefit of the support of Concept Life Sciences and its investors as we expand our existing and new services.”