Calculus Capital to invest £3m in drug developer C4X Discovery

Calculus Capital is to make a £3m investment in drug discovery engine, C4X Discovery.

London, September 2016:

Calculus will be the cornerstone investor in a £5m AIM fundraising by C4X Discovery (C4X), scheduled for admission to AIM on September 27th. The money will be used to progress C4X’s existing pipeline of pre-clinical drug design and development for use in the treatment of a wide range of diseases and medical conditions.

John Glencross, chief executive of Calculus Capital, said: “C4X Discovery aims to become the world’s most productive drug discovery and development company. That is no small ambition but we believe its patented drug discovery platform, Conformetrix, and revolutionary genetic technology, Taxonomy3, mean it has the potential to achieve this goal.

“C4X’s highly talented and experienced management team, led by Clive Dix, whose track-record in the sector is extremely impressive, instil us with great confidence about the direction and momentum of this business.”

Clive Dix, CEO of C4X Discovery, commented: “Calculus Capital is a leading EIS and VCT investor with a strong track record in the healthcare sector. I look forward to welcoming Calculus Capital as a new shareholder.”

Calculus Capital’s past exits from investments in the healthcare sector include Scancell in 2014, at an exit multiple of 8.2x, Epistem in 2014 at 2x, and, just a few days ago, Horizon Discovery at 1.82x.

The full RNS announcement can be seen here.