Funding totalling £55m provided by the likes of Imperial Innovations and Mercia Technologies has helped PsiOxus develop viruses that can deliver medicines to cancer patients. It was formed in 2009 from the merger of two university spin-outs, and most of its income came from research grants. Revenue from licensing its own intellectual property hit £8.6m last year after it secured a deal with biopharma multinational Bristol-Myers Squibb. This partnership is expected to boost sales to more than £50m this year. Led by chief executive John Beadle, 52, in June PsiOxus relocated to a new base in Abingdon, Oxfordshire, expanding its office and laboratory space seven-fold.
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