The partnership adds protein production and crystallography to current range of drug discovery capabilities
Dr Mark Abbott, Dr Tina Howard and Dr Derek Ogg, of Peak Proteins, are joined by Dr Simon Hirst and Dr Stuart Onions, of Sygnature Discovery, on the Board of Directors
Sygnature Discovery, a UK-based independent provider of integrated drug discovery resource and expertise has invested, through its parent Sygil Group, in a new start-up company.
The investment in Peak Proteins, based at the BioHub, Alderley Park, Cheshire, the former AstraZeneca site, is part of the Sygil Group's aim to build and expand its capabilities.
Under the deal, which was signed in December 2015, Sygil Group will make a 'significant' financial investment in Peak Proteins. The partnership adds protein production and crystallography to Sygnature’s current range of drug discovery capabilities.
Peak Proteins was founded by Dr Mark Abbott in 2014 and has been trading since summer 2015. Collectively, the experienced ex-AstraZeneca team provides engineered, tailored protein reagents and 3D atomic level structures of proteins using X-ray crystallography to enable the rational design of new drugs.
Commenting on the deal, Sygnature Discovery’s Founder and CEO, Dr Simon Hirst said: 'Computational structure-based design is a very important part of modern drug discovery and Peak Proteins’ team of highly experienced scientists offers a rare skill set in protein crystallography which compliments and supports our existing capabilities. This is much more than a financial investment as we will be able to share our management expertise with Peak Proteins and support its future growth.'
He added that Sygnature's involvement means that the firm can now offer protein production and crystallography alongside client projects, or separately, expanding its capabilities further. The two companies will also be able to work together to develop new services and technologies.
Abbott said: 'It is great to have the expertise and involvement of Simon and his team at Sygnature Discovery. There is a lot we can learn from their successes as we grow our business. Working together in this way will give us the necessary cash injection to accelerate our growth as well as making some important capital investments in equipment.'