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Bristol University spin-out company sold in deal worth up to £620m
A Bristol University scientist who co-founded a company while studying for his PhD has sold it to a pharmaceutical giant in a deal that could be worth up to £620m ($800m).
Dr Harry Destecroix, the CEO of Ziylo says its acquisition by Novo Nordisk brings hope of a “truly ground-breaking treatment” to diabetes patients, as it will likely lead to the development of the world’s first glucose-responsive insulin.
Ziylo was co-founded in 2014 by professor Anthony Davis, who has been at the forefront of research into synthetic sugar receptors for the last 20 years, along with his former PhD student, Destecroix, and Tom Smart.
Tucked away in Unit DX, a science incubator on Albert Road between Motion and Bristol Animal Rescue Centre, the company has developed a synthetic molecule which works by binding glucose in the bloodstream more effectively.
Novo Nordisk aims to use this platform to develop the next generation of glucose-response insulin – eliminating the risk of hypoglycaemia (dangerously low blood sugar levels) and leading to better metabolic control for people living with the disease.
The World Health Organization estimates that more than 422 million people worldwide.
Everyone with Type 1 diabetes and some people with Type 2 diabetes need to take insulin, either by injection or a pump, to control their blood glucose levels.
Destecroix said: “Novo Nordisk, as the leader in the diabetes field, is the ideal company to maximise the potential of the Ziylo’s glucose-binding molecules in glucose responsive insulins and diabetes applications, and it brings hope of a truly ground-breaking treatment to diabetes patients.”
This is a real success story for researchers at the university, who had been working on the problem for many years before Ziylo was established as a startup in 2014.
Their lab-based work is now likely to be turned into a real-world application to improve the lives of people around the world.
Davis, a professor of supramolecular chemistry at the University of Bristol and Ziylo’s director & co-founder, added: “The glucose responsive insulin we will develop with Novo Nordisk combines a natural molecule (insulin) with an artificial component (Ziylo’s glucose-binding molecules).
“This combination of natural and unnatural could be a new approach to biodesign.
“These unique molecules were inspired by nature and work in much the same way as natural glucose receptors. A group of chemists, called supramolecular chemists, have been working on this problem for many years. Often, they make molecules which behave quite like natural molecules, but usually they don’t work quite well enough for real-world applications.
“The success of the Ziylo molecules shows that, with persistence, the problems can be solved and that biological molecules can be matched as well as mimicked.”
Novo Nordisk gains full rights to Ziylo’s early-stage glucose-binding molecules in the staged acquisition, which has the potential to exceed £620m ($800m) – although it is still early days and payments are subject to clinical and regulatory milestones, which could take up to 10 years to achieve.
A new spin-off company, Carbometrics, has entered into research collaboration with Novo Nordisk to assist with ongoing optimisation of glucose-binding molecules for use in glucose responsive insulins.
It will remain at Unit DX and remains closely associated with the university.
Main photo: Professor Anthony Davis and Dr Harry Destecroix.
Read more: Unit DX: a petri-dish of science and entrepreneurship
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