Mon, 10 Dec 2012 | ADMINISTRATION
A drug discovery company based in Cambridge has entered administration due to cashflow problems.
Biotica Technology is a Cambridge University spin-out based in the city's Chesterford Research Park. The firm had been working on polyketides, which are drug-like molecules that are produced by micro-organisms in soil. The business's aim had been to find new treatments for deadly diseases using the polyketides.
Joint administrators Chris McKay and Andrew McTear of McTear Williams & Wood were appointed this week to work with the firm's directors. The plan is either to restructure and save the company or to sell it.
Mr McKay told Cambridge News: “We became involved late last year after the company hit cashflow problems resulting from a licensing dispute with a drug development partner. Eight people were made redundant in November and now only three are left.”
The business was first established in 1996 through the research two professors from Cambridge University undertook. It grew into a successful discovery and development company, and in October 2012 announced a partnership with California firm Pelos Pharmaceuticals to develop therapeutics for aging-related diseases.
Administrators remain confident that there could be a positive future for the company, especially given its promising drug candidate, BC556, which is a potent inhibitor of hepatitis C that has received significant interest from a number of parties who are keen to develop it further.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
22
|
Nov
|
Construction firm Lyjon calls in administrators | ADMINISTRATION
Cheshire-based contractor Lyjon Group has appointed administ...
22
|
Nov
|
Historic Yorkshire yarn maker weaves towards employee ownership | BUSINESS SALE
A West Yorkshire yarn manufacturer that dates back to before...
22
|
Nov
|
Redsquid going national after new funding and acquisition | BUSINESS SALE
IT managed service provider (MSP) Redsquid is going national...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.