China-based life sciences business founded by three MIT physicists acquires Liverpool city region biotech venture spun out from the University of Liverpool 11 years ago. Tony McDonough reports
China-based life sciences business XtalPi has acquired Liverpool city region biotech Liverpool ChiroChem (LCC).
LCC is a spin-out business from the University of Liverpool. It was co-founded in 2014 by biotech entrepreneur Dr Paul Colbon and is renowned for its cutting-edge technology in chiral chemistry.
Groundbreaking research by LCC’s scientists has seen the company’s products used around the world to aid the discovery of treatments for diseases such as cancer and dementia.
XtalPi was founded in 2015 by three physicists from the Massachusetts Institute of Technology. It is an R&D platform powered by quantum physics, artificial intelligence, and robotics. By joining forces with LCC it aims to “revolutionise R&D in molecular science”.
LCC moved its operations to specialist laboratories at The Heath Business and Technical Park in Runcorn three years ago. Dr Colbon had been seeking new investment and had been talking to potential investors in the UK, Europe, North America and Asia.
The value of the deal with XtalPi is undisclosed but according to its most recent company account for the 12 months to December 31, 2023, LCC had net assets of more than £3.2m.
Dr Colbon said: “XtalPi shares our ambition to revolutionise how new chemical compounds are discovered. This partnership gives us the opportunity to contribute to a global platform that is reshaping innovation across life sciences.”
With operations in the US, Europe, and Asia, the combined business will now offer its partners improved flexibility, regional project management, and enhanced capabilities to support complex R&D pipelines.
XtalPi retains laboratories in Boston, Massachusetts, with another R&D facility located in Shenzhen and a pharmaceutical centre in Shanghai, China.
John Lewis, owner of The Heath Business and Technical Park, added: “Paul Colbon should be hugely congratulated for identifying a credible partner who brings vital overseas investment to the UK, and in particular to the North West.
“Life sciences are massively important, and Paul must be commended for his relentless efforts to seek the critical funding required to enable the growth of his remarkable cutting-edge business.”