University signs major research deal

DRUG development firm TPP has signed a "very significant" deal with Edinburgh University to commercialise its research into cancer, immunology and nervous system disorders.

The firm - which raised almost 10 million in private equity funding in May - will help to develop intellectual property (IP) created at the university into new drugs.

Peter Trill, TPP's finance director, told The Scotsman: "If we are successful in developing new drugs then this deal could be a very significant revenue generator for us and for the wider life sciences community, which could benefit through sub-contracts."

Trill, a former Morgan Stanley fund manager, founded the company with Oxford University scientist Dr Tom Brown, who is now its chief executive. Earlier this year, the firm took space in the Edinburgh Bioquarter, a site being developed by Scottish Enterprise and Edinburgh University next to Edinburgh Royal Infirmary and medical school.

The Scottish Government gave TPP a 200,000 regional selective assistance grant, while Scottish Enterprise's Scottish Venture Fund took a 2m stake in the firm as part of its start-up funding round in May.

Dr Mike Capaldi, development director at Edinburgh BioQuarter, said: "This represents a significant building-block in the continued development of Edinburgh as a world centre for bio-technology and life sciences."