Domainex to Invest in its Drug Discovery Services and Internal Oncology Pipeline in 2011
Domainex Ltd has announced plans to significantly expand its medicinal chemistry and biology capabilities in 2011. The expansion will involve relocation to larger laboratories in Cambridge and investment in new technologies that will enhance its current service offering. This will allow Domainex to provide even better support to its growing client base and enable it to expand work on the Company’s own discovery-phase oncology drug pipeline.
Announcing the expansion plans Dr Eddy Littler, CEO of Domainex, said: “We are keen to grow in order to allow us to service a greater number of clients, and to increase our revenue stream going forward. I’m pleased to say that 2010 was an excellent year for us, and we fully expect to continue in this way through 2011. The first step in this expansion has been to increase our business development efforts, with the hiring of George Buckley as a Business Development Manager at the beginning of the year."
Dr George Buckley joins the Company from Cresset, where he was Sales Manager. He has a wealth of experience in medicinal chemistry, having studied at Nottingham University, and been an important member of drug discovery teams at UCB and Celltech. He will be a valuable asset to our growing business development team”.
Trevor Perrior (Research Director) continued: “Domainex is entering a new phase in its development. Our service division is undergoing a significant expansion to support a number of new contracts, and our drug discovery division has advanced its first project, focused on the oncology and inflammation targets, IKKε and TBK1, to a point where we will seek to out-license the project in 2011. Other targets in the Domainex pipeline, including a number of methyltransferases with important roles in epigenetics, will also benefit from increased investment and resources.”
Other news from the department business & finance
