Signal Pharma will be the first company to be spun out from the University’s Kosterlitz Centre for Therapeutics, which is focused on translating biological innovation into new ways of treating, diagnosing and understanding diseases.
The founders of the company are pharmacology expert Professor Ruth Ross and Dr Iain Greig, a medicinal chemist who helped found another University spin out that is developing drugs to treat rheumatoid arthritis. They have joined forces with cardiologist Professor Michael Frenneaux, and molecular imaging expert Professor Matteo Zanda. Dr Derek Douglas, chairman and ceo of Adam Smith Ltd is providing financial and business acumen, while Dr Michael Wyllie, founder and director Global Pharma Consulting, will provide drug development expertise.
Sigma Pharma will develop a portfolio of four drug discovery projects based on new pathways and targets identified by the University of Aberdeen scientists.
The firm is seeking to raise £1.5m to develop these projects over a period of three years.
Prof Ross, who is also director of the University’s Kosterlitz Centre, said: ‘The creation of Signal Pharma is a great opportunity to generate both medical and economic benefits based on the world class biomedical research of discoveries of the University of Aberdeen.’
Dr Greig added: ‘It is particularly satisfying to see ideas that we have worked on for many years reaching the next stage of the development process, which we hope will eventually lead to new drugs that give real benefits to the patients, saving lives and reducing suffering.’
