Optibrium™, a developer of software for drug discovery, has raised significant investment from Kester Capital, a mid-market private equity firm typically investing between £10 to £20 million per deal.
The funding will accelerate the development of the business through organic growth and acquisition. Currently, more than 150 organisations worldwide deploy Optibrium’s technology in their research programs, including five of the top ten global pharmaceutical companies.
Founded in 2009 by Matt Segall, CEO, and Ed Champness, Chief Scientific Officer, Optibrium is based in Cambridge, UK with offices in the USA in Boston and San Francisco. Optibrium’s products enable preclinical drug discovery, focusing on ‘hit to lead’ and ‘lead optimisation’ phases.
The market for computer-aided drug discovery (CADD) is fast-growing, driven by the increasing capabilities and sophistication of software tools that can deliver material cost and time savings for drug developers. Independent market research predicts that the global CADD market will surpass $4.8 billion by 2026, rising from $1.5 billion in 2018 at a CAGR of 15.5%.
Adam Maidment, managing partner of Kester Capital, said: “Optibrium is a cutting edge software business that is driving some of the most exciting developments within computer-aided drug discovery. We had been tracking the business for some time and were really impressed by the team and the business’ achievements. We are looking forward to working with Matt and Ed to grow the business.”
Matt Segall, CEO of Optibrium, said: “We are delighted to have Kester Capital on board as an investment partner to continue the successful evolution of the business. Kester has extensive experience in the life sciences sector, and we are looking forward to working with them to capitalise on the substantial market opportunities.”