A graduate who co-founded a company while studying at university has become a multi-millionaire after it was sold for £623m.
Dr Harry Destecroix, 31, co-founded Ziylo while studying for his PhD at the University of Bristol four years ago.
It created a new technology which can be developed to treat diabetes more effectively.
Pharmaceutical giant Novo Nordisk’s purchase means it now has full rights to develop glucose responsive insulins.
Dr Destecroix said he hoped the sale will offer ground-breaking treatment for diabetics.
Ziylo, a university spin-out company, developed a synthetic molecule which works by binding glucose in the bloodstream more effectively.
Danish firm Novo Nordisk, one of the biggest manufacturers of diabetes medicines, will now aim to use this molecule to develop a new type of insulin which aims to help diabetics manage their condition more safely.
‘Truly ground-breaking’
The glucose binding molecules discovered by the Ziylo team have the potential to lead to the development of insulins, which can potentially remove the risk of hypoglycaemia, when blood sugar levels fall below normal.
In some cases this can be fatal, or cause other serious conditions like seizures or a coma.
“Novo Nordisk, as the leader in the diabetes field, is the ideal company to maximise the potential of the Ziylo glucose binding molecules in glucose responsive insulins and diabetes applications, and it brings hope of a truly ground-breaking treatment to diabetes patients,” added Dr Destecroix.
Diabetes affects about one in 11 adults worldwide and increases the risk of heart attack, stroke, blindness, kidney failure and limb amputation.
Type 1 diabetes is a disease of the immune system, which affects around 10% of people with the condition in the UK. It errantly attacks the body’s insulin factories (beta-cells) so there is not enough of the hormone to control blood sugar levels.
Type 2 diabetes can lead to a range of health problems such as heart disease, strokes and kidney problems and occurs when the body cannot produce enough insulin to regulate blood sugar levels. It can be linked to lifestyle factors and diet. (BBC)
