Morvus is a privately-owned company engaged in the discovery, development and commercialisation of novel drugs and technologies, primarily in the field of oncology.
The company was established in 2004 and has its main offices and laboratories near Llanarthne, South Wales with a small facility at the Porton Down Science Park near Salisbury, Wiltshire.
It has a broad portfolio of technology which has been mainly generated in-house and which is focused on disease areas for which there is a clear, unmet medical need. Its products are based upon core expertise in prodrug-enzyme interactions and knowledge of the mechanism of apoptosis.
Its commercial strategy is to secure development and commercialisation partners for its products following proof-of-principle clinical studies. Morvus generates revenue by licensing its intellectual property and/or know-how but retains a stake in the technology and produces shareholder value via receipt of signature fees, milestone payments and royalties.
In October 2007 Morvus acquired Cardiff ProTides and Cardiff Biologicals, in each of which Biofusion had a 50 per cent shareholding. Biofusion now owns 12,328,767 shares in Morvus (post associated university loan notes), giving it a 18% shareholding in the enlarged Morvus group.
Morvus has raised over £3.4 million in equity finance to date and its most recent funding, largely concluded in July 2007, valued Morvus at approximately £12m, based on a price of 30p per share
http://www.morvus.com/