BioMoti Ltd and QMUL have signed a Share Purchase Agreement with Physiomics plc
Physiomics plc, an AIM listed company based in Oxford, have announced their intention to acquire BioMoti Limited. BioMoti Ltd., is a company launched by QMUL founders and inventors Dr Davidson Ateh and Professor Joanne Martin with an exclusive patent licence from QMUL in 2012. The patents cover the unique Oncojan technology developed by the founders that creates nanoparticles that can package cancer drugs into sustained drug delivery vehicles, which are then coated with tumour targeting protein CD95R. BioMoti’s lead candidate, MOTI1001, contains the drug Paclitaxel which has been approved for many years and is already used to treat different types of cancer
In pre-clinical mouse models of ovarian cancer MOTI1001 has shown significantly greater ability to shrink tumours than paclitaxel alone and also appears to be significantly more tolerable
Physiomics plc has signed a Share Purchase Agreement with BioMoti, QMUL, founders and other shareholders with the acquisition being conditional on Physiomics completing a successful placing to raise a minimum of £1M to develop the new joint company’s drug discovery and development pipeline.