AssayMetrics

AssayMetrics was a medical testing equipment company founded in 2004 by Dr. Pierre Graves. The company was established to commercialize drug discovery technologies developed in South Wales. Based at the Cardiff Medicentre, the firm initially focused on developing and protecting its intellectual property, receiving a SMARTCymru award for new technology development and support from IP Wales for its range of chemical dyes in 2005. That same year, senior scientists Dr. John Whateley and Dr. Anthony Smith joined the team.

The company's first products, chemical dye reagents for compound screening within the biotechnology and pharmaceutical sectors, were launched in 2006. A significant milestone occurred in 2011 with the launch of a laser-based fluorescence plate reader utilized in drug screening, which attracted interest from global pharmaceutical companies. AssayMetrics' business model centered on the development and sale of these specialized tools and reagents to the drug discovery market. The company secured equity investments from Finance Wales in May 2010 and a second round in 2011 to fund an international sales and marketing campaign.

Despite its early achievements and product interest, AssayMetrics faced financial difficulties. The original managing director, Dr. Pierre Graves, departed from the business in December 2012. Ultimately, the company became insolvent, and its directors made the decision to wind it up. In August 2013, AssayMetrics went into liquidation. The business was broken up, and its intellectual property rights and technical equipment were sold off, with Cambridge-based TTP LabTech acquiring the majority of the IP.

Keywords: drug discovery technologies, medical testing equipment, chemical dye reagents, compound screening, laser-based fluorescence plate reader, biotechnology, pharmaceutical industry, intellectual property, Cardiff Medicentre, Finance Wales, liquidated company