Listed UK diagnostics developer Cizzle Biotechnology has acquired a 5% economic interest in treatments for inflammatory pulmonary and cardiovascular disease – with support from Shakespeare Martineau’s Birmingham office.
Cizzle Biotechnology – which was originally a spin-out from the University of York – has entered into a definitive agreement with Conduit Pharmaceuticals Limited and medical charity St George Street Capital Limited in association with the development of AZD 1656 or other similar treatments developed by the two companies.
In a clinical trial, data showed there was a significant increase in the migration of the regulatory T cells – which potentially reduce serious cardiovascular and lung diseases that are causative in the development of lung cancer, which Cizzle is developing a diagnostic test to identify – from the patients who had taken the drugs compared to those who had not.
Keith Spedding, corporate partner at full service law firm Shakespeare Martineau, who led the deal, said: “The biotech industry is absolutely fascinating – we are seeing huge movements and rapid growth in this market as clinical need increases and technology and innovation races to keep up.
“It has been great to get this deal over the line, which will allow Cizzle to develop treatments and continue developing its blood test for the early detection of lung cancer.”
The agreement is in addition to Cizzle’s existing interest in AZD 1656, which was announced on 20 September 2021. It supports the company’s ambitions to expand its target customer base into the pharmaceutical industry and is in line with its strategy of building a portfolio of early cancer detection tests, companion diagnostics and royalty bearing stakes in significant drug assets.
Executive chairman Allan Syms said: “The agreement represents an important extension to our close relationship with Conduit Pharmaceuticals Limited and St George Street Capital Limited.
“On 20 September 2021, we announced we had acquired a stake in St George Street Capital Limited’s AZD 1656 asset and we are now pleased to have the opportunity to increase our stake by an additional 5%.
“This new agreement supports our ambitions and is in line with our growth strategy. Keith and his team were able to react quickly to get this deal over the line.”
Get In Contact
Keith advises companies (both public and private), partnerships and their owners on all aspects of corporate and partnership law.