Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, is today pleased announce that it has invested £200,000 into Cardiff Protides Limited (“Cardiff Protides”), a drug delivery spin-out company, raising its holding to 50% of the company.
Previously, Biofusion held a 22.5% stake in Cardiff Protides through its agreement with Cardiff University. The funding provided by Biofusion will allow Cardiff Protides to continue to develop improved versions of known nucleoside-based anti-cancer drugs which have the potential to dramatically increase the ability of the drug to enter their target cells in the body.
Cardiff Protides’ technology is based on research conducted by Professor Christopher McGuigan at Cardiff University.