Dundee Cell Products attracts new grants, appoints new Chairman December 5, 2011 Dundee Cell Products Ltd (DCP), a spin-out company from the University of Dundee, has attracted two new grants to support its product development and commercialisation activities. DCP is a supplier of high quality products and innovative tools for biochemistry and molecular and cell biology research. DCP company also offers advanced research services, to facilitate the discovery and development of new and safer medicines against human diseases. The company was created to exploit technology and expertise in proteomics and RNA biology developed in the University. DCP has been awarded a SMART: Scotland award from Scottish Enterprise and a BioKT R&D grant by the Innovation Portal Dundee, worth £70,000 and £20,000 respectively. The SMART: Scotland award is a significant part of the overall project investment of £106,378, with DCP contributing £36,378 to the project. The SMART: Scotland project will support the company’s research activities focused on predicting potential toxic liabilities of drugs under development and will take 15 months to complete. The six month BioKT project will allow the company, in collaboration with the University of Dundee, to initiate the development of new human growth factor products and related services targeting both the academic research and biotech/pharma markets. “Both of these grant awards will enable the company to invest in developing new high technology products and services that are of great commercial value in a market sector worth billions of dollars,” said Dr Paul Ajuh, the Managing Director of Dundee Cell Products. “The services we can offer are at the cutting edge of technology and present exciting new opportunities to improve the pipeline for developing safe new drugs more cost effectively. This R&D support will enable Dundee Cell Products Ltd to continue to provide new jobs in Dundee for life scientists and will help to build the profile of Dundee as a major UK centre for translating outstanding basic research into the commercial sphere.” Michael Cannon, director of SMART: Scotland and R&D grants for Scottish Enterprise, said: “Innovation is at the heart of DCP’s growth plans. By encouraging and supporting Scottish companies, like DCP, to embrace a culture of innovation we can help our companies remain globally competitive and aid our economic recovery.” DCP also announced that Brenda Reynolds has been appointed as Chairman of the company. She has extensive broad experience in the Life Science sector and was a founder of Convergence Pharmaceuticals Ltd in October 2010 with the raising of £22.4million funding from three international VCs. She was previously a founder of PowderMed Ltd in 2003 with a £20 million fundraising, this company subsequently being sold to Pfizer in 2006. “I am very excited to be working with such an innovative company,” said Brenda. “These grants will enable Dundee Cell Products Ltd to continue to provide new jobs in Dundee for life scientists and will help to build the profile of Dundee as a major UK centre for translating outstanding basic research into the commercial sphere.” Diane Taylor, Director of Research and Innovation Services at the University of Dundee, and Chair of the Innovation Portal Steering Group, said the BioKT grant was an excellent example of a Scottish SME (small-to-medium sized company) working with the academic sector. “We are delighted that Dundee Cell Products Ltd will be the first recipient of a grant from the BioPortal’s BIOKT fund,” said Diane. “This enables DCP to collaborate with leading academics within the University to develop new human growth factor products. It also creates a new job within the company for one of the University’s former postdoctoral assistants. This is a great example of where easy and speedy access to University IP by a Scottish SMEcan foster innovation whilst also creating jobs and further demonstrates our commitment and ability to positively and quickly engage with the Scottish SME sector.”
