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Conduit Pharmaceuticals Announces Opening of Prime Laboratory Space in Europe’s Leading Life Sciences Hub
SAN DIEGO and LONDON, March 11, 2024 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) ("Conduit Pharmaceuticals" or "Conduit") today announced
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[{"type":"text","content":"SAN DIEGO and LONDON, March 11, 2024 (GLOBE NEWSWIRE) -- Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (\"Conduit Pharmaceuticals\" or \"Conduit\") today announced the opening of cutting-edge laboratory space in Cambridge, United Kingdom, a global centre for research and development for companies at the forefront of life science innovation. This strategic acquisition marks a pivotal milestone for Conduit, positioning the Company for portfolio expansion, enhanced development capabilities, and growth of a robust intellectual property portfolio. The laboratory space in Cambridge sits within 150 acres and two million square feet of high technology and laboratory buildings, housing nearly 7,000 people at over 130 companies that range from exciting start-ups to some of the world's leading technology and life science businesses. At Conduit’s new laboratory, the scientific team will focus on strengthening and extending the Company’s intellectual property portfolio using solid form technology to maximise out-licensing value. The new centre of excellence will function as the nucleus of the Company's workstream management platform, a system integrating the expertise of Conduit’s management and scientific teams with complimentary algorithmic and artificial intelligence tools. The Company believes this will streamline operations including asset selection and monitoring key deliverables within its clinical trials. “Our new laboratory serves as a dynamic base for Conduit's breakthrough endeavours, providing an optimal environment to progress and expand upon our existing asset portfolio while also facilitating a generation of new intellectual property,” said Dr. David Tapolczay, Chief Executive Officer of Conduit. “This initiative reaffirms our commitment to leading the charge in pharmaceutical innovation, collaborating closely with the celebrated scientific community in Cambridge, a prominent global life sciences hub that consistently pushes the boundaries of what is possible and develops life-changing advancements for patients.” About Conduit Pharmaceuticals Conduit is a disease-agnostic life science company delivering an efficient model for compound development. Conduit both acquires and funds the development of Phase II-ready assets and then seeks an exit through third-party license deals following successful clinical trials. Led by a highly e...