Proximagen

Proximagen is a biotechnology company focused on the discovery and development of novel therapeutics for central nervous system (CNS) disorders, inflammation, and oncology. The company was founded in 2004 by Peter Jenner as a spin-out from King's College London and went public on the AIM market of the London Stock Exchange in March 2005.

The company's business model revolves around its drug discovery and development capabilities, which span medicinal chemistry, biology, and pharmacokinetics. Proximagen forms strategic partnerships with pharmaceutical companies to out-license its programs and commercialize new treatments. Its pipeline has included programs targeting Parkinson's disease, Alzheimer's disease, epilepsy, cognition, and neuropathic pain. One notable program, PRX1, was designed as an improved version of L-DOPA for Parkinson's disease. The company's business strategy involves acquiring and in-licensing drug development programs to build a robust pipeline.

In 2012, Proximagen was acquired by the US-based Upsher-Smith Laboratories for approximately $555 million, a deal that provided Proximagen with expanded R&D capabilities and a platform for future growth. Following the acquisition, Kenneth Mulvany, who had been CEO, founded the AI-driven drug discovery company BenevolentAI in 2013. In a strategic move in 2018, BenevolentAI acquired Proximagen's UK drug discovery and development operations, integrating its AI platform with Proximagen's research capabilities to cover the entire drug development process.

Keywords: drug discovery, central nervous system, CNS, neurodegenerative disorders, biotechnology, pharmaceuticals, Parkinson's disease, Alzheimer's disease, epilepsy, therapeutics, medicinal chemistry, clinical development, drug development, inflammation, oncology, neuropathic pain, small molecules, Upsher-Smith, BenevolentAI, clinical trials