New drug partners

March 10, 2000

A major chemical services supplier has invested more than Pounds 1 million in a spin-off company from Strathclyde University's department of pharmaceutical sciences, which formulates and manufactures new drugs for use in clinical trials.

Oxford Asymmetry International (OAI) has invested Pounds 1.1 million in return for a 58 per cent equity stake in the Glasgow based company, ProPharma, with an option to purchase the remaining 42 per cent over three years.

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