Oxford University today unveiled Lab282, a collaboration between the institution, its tech transfer office Oxford University Innovation (OUI), its commercialisation fund Oxford Sciences Innovation (OSI) and drug discovery company Evotec.
The partnership is powered by a £13m ($16m) investment, led by OSI, and will focus exclusively on commercialising biomedical research from Oxford University through OUI. It will both accelerate research to pre-clinical proof of concept and help establish spinouts.
The partners hope the project will lead to the development of treatments across any therapeutic area, particularly focusing on serious and debilitating diseases.
Evotec will provide an expert-in-residence, who will work closely with university staff. In return for its services, Evotec will be entitled to an equity stake of undisclosed size in any spinouts generated by Lab282 as well as co-investment in these companies alongside OSI.
The funding is expected to last for an initial period of three years.
Adam Stoten, head of technology transfer for life sciences at OUI, said: “This pioneering approach addresses a major unmet need by engaging Lab282’s partners, together offering world-class medical research, commercial drug discovery expertise and facilities, and significant investment resources.
“Today’s announcement provides another great example of how UK universities are at the forefront of collaborative public-private drug discovery partnerships with the goal of patient benefit.”
Andrew McLean, principal investor at OSI, said: “There are so many incredible and potentially life-changing ideas being fostered across Oxford University and we are delighted to be part of this unique partnership to nourish these ideas into leading companies that will have a positive impact on patients.”
