Paradigm Therapeutics Limited move to prestigious new premises on the Cambridge Science Park

27 August 2003 Cambridge, UK. Paradigm Therapeutics Limited (‘Paradigm’) is pleased to announce their move to prestigious new R&D premises of approximately 12,000 sq feet on the Cambridge Science Park. The move follows the completion of the Company’s second round of funding in December 2002 when £12million was raised.

Commenting on the move, Dr Mark Carlton, Director of Operations for Paradigm said ‘We are delighted to have moved onto the Cambridge Science Park. Paradigm already has an exciting pipeline of novel targets and the Company will now be able to extend it’s target validation and development programme considerably’.

About Paradigm
The race to define the therapeutic utility of the thousands of uncharacterised human proteins is the new hallmark of modern drug discovery. Unlocking the precise physiological function of these proteins is a vital prerequisite of rational drug development. Paradigm has established a powerful genetics based platform that is generating detailed information and intellectual property on the physiological role, and hence the potential therapeutic utility and value of novel targets identified from within the human genome. Over 800 potential drug able targets have already been identified, of which more than 200 of the most exciting are well advanced within its biological validation program. Paradigm is focussing its efforts on therapeutic areas of high unmet medical need such as obesity, central nervous system disorders and cancer and has already characterised targets that represent novel therapeutic points of intervention in some of these key disease areas. Paradigm's commercial strategy is to develop both monoclonal and small molecule drugs to these targets in partnership with other drug development companies. The company has already formed a broad-based collaborations with Genmab and Medivir for the development of therapeutic antibodies.

Paradigm Therapeutics was founded by Dr Mark Carlton and Dr Samuel Aparicio (also an investigator in the University of Cambridge Dept’ of Oncology) and was spun-out from the University of Cambridge with initial research funding from Catalyst Biomedica Limited (a subsidiary of the Wellcome Trust). Both the University of Cambridge and Catalyst Biomedica are shareholders in Paradigm. 

On 9th December 2002 the Company announced the successful completion of a second round of private equity funding totalling approximately £12 million. BioMedical Sciences Investment Fund Pte Ltd of Singapore and UK based Technomark Medical Ventures acted as co-lead investors for the round. Other investors included Paradigm’s existing UK-based investor Avlar BioVentures Fund I as well as Avlar BioVentures Fund II. Genmab A/S also made a minority investment .

The Company has now grown to employ 25 staff and consultants. 
For further information, please contact Mark Carlton, Director of Operations: 
Telephone + 44 (0)1223 222600
E-mail: mcarlton@paradigm-therapeutics.com , www.paradigm-therapeutics.com  Paradigm Therapeutics Ltd, 214 Cambridge Science Park, Cambridge, CB4 0WA.