University Research Gets Financial Boost

A U.K. university and a U.K. university spin-off are getting investments from companies dedicated to commercializing academic research.

In one deal, investment firm Biofusion has entered a 10-year contract with Cardiff University under which it gains the right to commercialize Cardiff's research-generated intellectual property. Cardiff is taking an equity stake in Biofusion worth roughly $33 million, while Biofusion will create a dedicated investment fund of $16 million for investing in Cardiff ventures.

According to Biofusion, the agreement with Cardiff triples the research spending covered by Biofusion's university agreements and expands its business into non-life-sciences research.

In the other deal, the private equity companies Close Ventures and Foursome Investments have provided $4 million in a second round of funding to Xceleron, a spin-off from University of York that provides a range of drug development services to the life sciences industries. Xceleron uses accelerator mass spectrometry to assist in both clinical and preclinical development. It also pioneered the use of microdosing as a means of testing drugs in humans prior to full clinical trials.