Onco-NX, a drug discovery firm spun-out of the University of Salford, has been acquired by UK-based oncology firm Incanthera, itself a spin-out of the University of Bradford.
The sale of the Manchester-based life sciences firm marks the first successful sale of a Salford spin-out, also the university’s first drug development firm, which is developing a therapy which targets solid tumours without affecting health.
Both firms share a common investor, Spark Impact, which manages the North West Fund, a biomedical investment vehicle designed to entice businesses to the north west of England, and support startups and spin-out already active in the area.
Simon Ward, Incanthera chief executive, said: “Acquiring Onco-NX was the perfect move for us as together we can combine our drug discovery expertise to develop leading cancer treatments. We’re currently working on a number of new promising anticancer agents and have two drugs which are being prepared for clinical trials. Our long term ambition is to have these drugs licenced out to a multi-national pharmaceutical company for further development. Our ultimate aim is to hit the healthcare market with these drugs and make a real difference in the universal fight against cancer.”
