University spin-out achieves $150 million exit

Thiakis, which specialises in the treatment of obesity and diabetes, has been sold to US-based Wyeth Pharmaecuticals for up to $150 million.


Thiakis, which specialises in the treatment of obesity and diabetes, has been sold to US-based Wyeth Pharmaecuticals for up to $150 million.

Thiakis, which specialises in the treatment of obesity and diabetes, has been sold to US-based Wyeth Pharmaecuticals for up to $150 million (£100 million).

Of that sum, $30 million is an upfront payment, with the balance depending on the company achieving clinical development milestones.

Exiting investors in the sale of the Imperial College London (ICL) spin-out include UK venture capitalist Advent Venture Partners, AIM-listed Imperial Innovations and Danish private equity firm Novo.

Founded in 2004 by ICL professor Stephen Bloom, a specialist in metabolic diseases, the company raised money in 2006 in a Series A round led by Advent, whose general partner Raj Parekh served on the board. John Burt served as the company’s chief executive officer.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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