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Schofield Sweeney advised Manchester-based biotech company C4X Discovery Holdings – a pioneer in the battle against rheumatoid arthritis and Parkinson’s disease - on its £7m share placing, putting 22% of its capital up for grabs.
The move has been prompted by the continuing increase in global licensing of pre-clinical stage assets with the number of deals greater than $10m increasing from 50 in 2012 to 78 in 2015 and the value of upfront payments increasing by 289%.
C4X Discovery aims to do this by exploiting its cutting-edge proprietary technologies to design and create best-in-class small-molecule candidates targeting a range of high value therapeutic areas.
The company's goal is to drive returns through early-stage revenue-generating licensing deals for its high value pre-clinical asset portfolio with the pharmaceutical industry.