The start-up, based at ideaSpace West, hopes to take the medical technology parked by biopharmaceutical companies and turn it into new drugs and therapies. Healx3 is currently in talks with biopharma companies on potential partnerships.
In an interview with Business Weekly, CEO Tim Guilliams, who holds a PhD in molecular neuroscience from the University of Cambridge, says: “Around 90 per cent of drug development projects never make it to market – leaving a vast amount of parked bio-assets on company benches.
“Some of these assets still have therapeutic potential, but do not cure patients or generate revenue. Healx3 is specialising in the upcycle and out-licensing of parked therapeutics and dormant IP in the biopharmaceutical industry.
“By enabling companies to generate new revenue streams and promote collaborative innovation within the industry, our activities will help deliver the next generation of therapeutics to patients in need.”
Healx3 is currently self-funded but aims to seek angel support once it has created strategic partnerships, launching a pilot with around 10 assets and pushing for seed capital around September.
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For more on Healx3 see http://www.healx3.com/