Aquapharm joins university to develop Alzheimer's drugs

AQUAPHARM, the Oban-based biotech company led by former Ardana chief executive Simon Best, has launched a partnership with Dundee University to develop drugs for Alzheimer's.

Under the deal, the firm will fund research conducted by Daan van Aalten, professor of biological chemistry at Dundee University, and will give scientists access to its library of chemical compounds derived from marine organisms.

In return, the university will help the company to screen its compounds to find chemicals that could be used as drugs.

Initial results from the agreement are expected next year.

Best, who led the commercialisation of the technology behind Dolly the sheep, said the deal was the firm's first project in central nervous system disorders.

He said Alzheimer's was becoming more prevalent with pharmaceutical companies, with drugs giant Merck signing a partnership last month with Seattle-based start-up Alectos to carry out research in the field.

"Our collaboration represents a major step-forward for the company in realising the potential of its unique marine assets and expertise," said Best.

Van Aalten added: "Aquapharm's collections may provide solutions for difficult targets that fail to progress with traditional medicinal chemistry."

Aquapharm recruited Best as chief executive in March, allowing founder Andrew Mearns Spragg to become chief technology officer and concentrate on the firm's scientific research.

Spragg had set up the firm in 2000 and went on to secure some 5.25 million in three funding rounds. Best's arrival at the firm was accompanied by existing investors - including Dutch outfit Aescap Venture, Tate & Lyle Ventures, Highlands & Islands Enterprise and Nesta - pumping in a further 4.2m.

The firm already has commercial agreements with chemicals group Croda and drugs firm Dr Reddy's Laboratories.