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Theryte wins Welsh Government RD&I award

Theryte Ltd is delighted to announce that it has been awarded a Research, Development and Innovation grant of nearly £60,000 by the Welsh Government.

Combined with the recent announcement of fresh investment in the company by its investors, this grant will allow Theryte to advance its most promising candidate, THR-93, through a series of tests culminating in a proof-of-concept experiment to demonstrate an effective anti-cancer effect in vivo. 

Theryte has become a tenant at the Cardiff Medicentre at Heath Park Hospital, and will use this new base to build relationships with the strong cancer community in South Wales.  The company hopes that this will lead to collaborations with both local academics and clinicians, with a view to joint applications to further elucidate the mechanism of Theryte’s unique anti-cancer technology.


Notes to editors

About Cardiff Medicentre

Cardiff Medicentre is a dedicated incubator for biotech and medtech startups. The facility is set in the grounds of the University of Wales Hospital and is a neighbour to Cardiff University’s School of Medicine.

Established in 1992, Cardiff Medicentre is a joint venture between Cardiff Council, Cardiff University, the Welsh Government and Cardiff & Vale University Health Board. It was the first incubator of its kind in the UK and now provides 32 units of high quality office and lab space accommodation ranging from 284 sq ft to 1,045 sq ft. Low-cost desk leasing facilities are also available to encourage entrepreneurs to enter the Cardiff Medicentre community while writing business plans and raising finance.

Tenants at Cardiff Medicentre benefit from specialist support in establishing and growing their businesses. Their aim, and the aim of the Cardiff Medicentre management team, is graduation – the process of tenant businesses outgrowing the incubation facilities and moving into their own follow-on space, or being acquired.

Examples of successful graduate companies

  • Q Chip Ltd (completed $6 million venture capital investment round in 2011)
  • Cardiff Bioanalytical Services Ltd (acquired by LGC Ltd in 2010)
  • Cardiff Research Consortium (acquired by Capita Group plc for £11.6 million in 2009)
  • BioDynamics Research Ltd (acquired by Quotient BioResearch Ltd in 2008)
  • TrichoTech Ltd (acquired by Concateno plc for £11.25 million in 2007)
  • OnExamination Ltd (acquired by BMJ Group in 2007)

Published on Tue, 11th Dec 2012

 
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