Astex claims its approach to developing drugs for diseases like cancer is more likely to succeed than conventional methods. The company is pioneering the use of x-ray crystallography to identify new cancer drugs. It is currently working with Astra Zeneca on compounds for a drug that treats Alzheimer’s, with Astra Zeneca funding Astex’s research programme and paying royalties. Venture capital of £51m was raised between 2001 and 2003. Last year it acquired a German company, Metagen. Although Astex continues to make substantial losses, sales have grown 170% a year from £371,000 in 2001 to £2.7m in 2003.

This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.

Company details
Year2004
Rank22
CompanyAstex Therapeutics
ActivityDrug developer
LocationCambridge
Average 3 year sales growth169.89%
Latest sales £000s*2,699
Staff92
Founded1999
Websitewww.astex-therapeutics.com

If applicable:

* supplied by company † annualised figure