£2m drug discovery hub would help Scottish university research
ONE OF the companies behind Scotland’s main Covid-19 testing facility is proposing the creation of a new £2m drug discovery project to help Scottish universities commercialise ideas for new treatments.
Bioascent, a contract research organisation based in Newhouse, Motherwell, helped to create Scotland’s new Lighthouse Laboratory and says its idea for a “Scottish drug discovery engine” would boost Scotland’s economy and provide highly skilled jobs.
“We have five world-class medical schools in Scotland and their output in terms of medicine and science is immense – they really punch above their weight,” said Bioascent chief executive Paul Smith. “But one of the things we’ve been very bad at in the university sector is translating the drug discovery ideas that come out of their laboratories into medicine and spin-out companies. The idea is that the Scottish drug discovery engine would help the universities translate their ideas into commercial, investible propositions.
“We’re very excited about this idea and have already approached potential funders, both public and private, to see what they think. We’ve had early discussions with the universities, who are very enthusiastic.”
Mr Smith said the project is expected to need about £2m initial funding.
“It would boost the Scottish economy by creating high quality, highly paid jobs,” he said.
Bioascent currently employs around 40, up from seven at the start of 2018, but is actively recruiting roles including biologists and chemists. Mr Smith expects staffing to reach 50 by the end of the year and potentially 80 by the end of 2021. The business helps biotech and pharma companies design, make and test new drugs by using its library of 125,000 compounds, its chemistry expertise and its high-throughput screening facilities.
Mr Smith said the plan for the Scottish drug discovery engine had taken shape over the last eight to 10 weeks and, if it was to go ahead, would be a collaboration between Bioascent, public and private investors and the universities.
Bioascent would provide ‘sweat equity’ in the form of facilities and expertise, with investment from partner investors and possibly also participating universities.
“Because we’ve invested in these skills in Scotland, it’s something I’m very passionate about,” Mr Smith said.
“Scotland is a nation of scientists, medics and engineers, so it’s in our DNA to do this stuff.”
A key aim of the project would be to create ‘meaningful returns’ for Scotland’s economy.
Bioascent worked with the Scottish Government, the NHS and the universities of Glasgow and Dundee to create Scotland’s Lighthouse Lab, which is hosted by the University of Glasgow at its Queen Elizabeth University Hospital Campus.
One of three Lighthouse Labs billed as “the biggest network of diagnostic testing facilities in British history,” it has processed more than 200,000 samples from those with suspected Covid-19 infections since opening in
April.
Bioascent’s chief scientific officer, Dr Phil Jones, and its director of biosciences, Dr Stuart Mcelroy, provided technical expertise to the lab in areas including high-throughput screening and assay (test) development.
Mr Smith said Bioascent was continuing to work with a number of Scottish universities on Covid-related research.
“Drug discovery will continue to be involved going forward, because a lot of people are looking to attack various Covid targets, and that will come up again and again,” he said.
Bioascent proposes £2m drug discovery ‘engine’ to help Scottish universities