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Ubiquigent Awarded Innovate UK Grant, Closes Further Round of Investment and Strengthens Management Team

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Ubiquigent
Limited
, a company focused on enabling and supporting ubiquitin
system targeted drug discovery, announced today that it was awarded a
new grant from Innovate UK as part of its Investor Accelerator Pilot to
support a project entitled; ‘The development of novel compounds to seed
a neurodegeneration drug discovery programme'. The programme provides
simultaneous grant funding and venture capital investment for early
stage projects led by UK companies.

As part of the award Ubiquigent received further investment from IP
Group plc and a group of experienced life science investors led by
Ubiquigent's senior management team to support the ongoing growth of the
business.

Following the award of the grant and the investment, Jason Mundin was
appointed to the role of Managing Director, having previously been
Ubiquigent's Commercial Director. Jason Brown, previously Scientific
Director, has seen his role expand to Scientific and Business
Development Director. In addition, Sheelagh Frame joined the company in
the newly created role of Head of Biology, assuming full responsibility
for the company's Dundee-based operations.

Ubiquigent's Managing Director, Jason Mundin commented: "This latest
grant and investment provides additional support for the advancement of
one of our key programmes. The programme is now well underway, and we
look forward to reaching our endpoint of developing novel compounds in
this disease area much sooner than originally planned. The team is now
even better placed to support our existing and new partners focused on
ubiquitin system drug discovery."

Further information on the Innovate UK grant and associated investment
can be found by visiting: www.gov.uk/government/publications/funding-competition-investment-accelerator-pilot

More details on Ubiquigent's Collaborative
Drug Discovery
opportunities, Drug
Discovery Services
and capabilities are available at www.ubiquigent.com.

About Ubiquigent

Ubiquigent Limited is focused on enabling and supporting ubiquitin
system drug discovery. Our biology and chemistry platforms allow us to
design and develop novel compounds targeted towards ubiquitin system
proteins as well as evaluate those of our partners.

Ubiquigent's scientific and business interests have a clear focus;
namely the ubiquitin, ubiquitin-like, and integrated signalling systems.
The company has established its scientific and business credentials with
both academic researchers undertaking fundamental scientific discovery
and pharmaceutical and biotechnology company scientists exploring the
potential of ubiquitin cascade-focused drug discovery.

Ubiquigent provides support to programmes at all stages from the
provision of Research
Tools
 and reagents to assay development compound profiling Drug
Discovery Services
 through to larger Collaborative
Drug Discovery Programmes
 for the delivery of hit and lead
compounds. At every stage Ubiquigent leverages its ubiquitin system
focused knowledge and expertise to support is partners programmes.

Ubiquigent benefits from high-calibre backing, including from IP Group
plc, US investors, the UK Medical Research Council, and the University
of Dundee. The company's headquarters and laboratory operations are
based in the UK and are located in a state-of-the-art facility adjacent
to the MRC Protein Phosphorylation and Ubiquitylation Unit at the
University of Dundee (both founded by Professor Sir Philip Cohen). In
addition to Ubiquigent's own facilities and capabilities, such proximity
provides ready access to a huge range of additional scientific expertise
(1,000+ life-science researchers onsite), technological competencies,
and assay and analytical platforms.

For more information, visit www.ubiquigent.com.

About the ubiquitin system

The ubiquitin
system
offers many new drug discovery target opportunities across
multiple therapeutic areas including cancer, cardiovascular and
metabolic, neurological and musculoskeletal, and infection and immunity.
Involving the modification of proteins through the attachment of the
protein ubiquitin, or ubiquitin-like proteins (Ubls), ubiquitylation and
related Ubl modifications are key to the control of cellular protein
homeostasis as well as signalling, akin to the critical role played by
phosphorylation (approximately 30% of commercial drug discovery
programmes target phosphorylation enzymes), and holds similar, if not
greater, potential for clinical utility.

About Innovate UK

Innovate UK is the UK's innovation agency. It works with people,
companies and partner organisations to find and drive the science and
technology innovations that will grow the UK economy. For further
information visit www.innovateuk.gov.uk

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