2003 - Cardiff University Innovation Prize
Winners:
Muscagen Ltd
Mr Michael McGrane, Chairman of MEM Group plc, presenting the Innovation Prize to
Dr Robin Davies, Research Director of Muscagen Ltd
The Cardiff University Innovation Prize is presented annually in recognition of outstanding innovation by a company participating in the Innovation Network. This unique trophy has been sponsored by Cardiff based MEM Group plc, designed by Grid Xitec Ltd of Usk and manufactured in collaboration with our Manufacturing Engineering Centre at Cardiff University. It is a dynamic sculpture that responds to movement and vibration in the environment with a changing visible laser light pattern.
The 2003 Prize was awarded to Muscagen Ltd, a computation-based, drug discovery company set up in 2001 with the objective of discovering improved medicines for the treatment of common diseases. The Company focuses primarily on the development of therapies for diseases such as Alzheimer's, urinary dysfunction and ischaemic heart disease.
Collaboration between Muscagen and the Welsh School of Pharmacy and the Department of Chemistry has been ongoing since the early stages of the Company's existence. The research undertaken involved the successful synthesis and pharmacological evaluation of compound which has potential to reduce damage to myocardial (heart) tissue resulting from blockage of blood flow in coronary vessels. The compound is expected to lead the field in this area of potential therapy and world-wide patent applications have been submitted. In addition, a contract to progress the molecule has now been signed with a development company; the prospective launch date is set for 2009.
The perception of research-based groups being high-risk can hamper attempts to attract investment. The success of the work undertaken with the Welsh School of Pharmacy and the Department of Chemistry as part of this collaboration has ensured Muscagen's future development, providing a source of income at a critical juncture. The Company now has the ability to produce highly interesting drug candidate molecules for a relatively small capital outlay and in good time. It is hoped that the potential influence of the proof of concept demonstrated will encourage future investment and lead the way to more fundamental expansion.