BioAscent has secured £1.6m in funding from Maven Capital Partners (“Maven”). The investment will facilitate BioAscent’s growth through its unique offering of integrated drug discovery, and compound management services, as well as the Compound Cloud library of lead-like pharma compounds, from its state-of-the-art facility at BioCity, Scotland. This offering of expert compound management and integrated drug discovery services from one facility is a key differentiator and is expected to drive BioAscent’s growth.
BioAscent’s team of expert biologists and medicinal chemists has extensive previous experience working in major pharma and biotech and a track record of taking drugs from concept to clinical candidate across all major therapeutic areas. In addition, for the past five years BioAscent has been a key participant in the European Lead Factory, collaborating on more than 70 projects and producing a range of highly biologically active and drug-like molecules across a broad range of target families.
As well as having the infrastructure to house client libraries ranging in size from a few thousand to millions of compounds, the BioAscent laboratories are equipped with state-of-the-art drug discovery instrumentation. This includes 400MHz NMR, LCMS, super-critical fluid chromatography and HPLC, and the team can perform a broad range of synthetic procedures including microwave-assisted reactions, hydrogenation and flow chemistry. In the bioscience laboratories, acoustic dispensers facilitate efficient screening using a variety of cellular, biochemical and biophysical techniques including microscale thermophoresis, dynamic mass redistribution and differential scanning fluorimetry.