IP Valuation and IPO
The start-up company was funded by £350,000 of venture capital and operated in the area of computer-aided drug discovery with customers being mostly major international pharmaceutical companies.
The company was floated on the London Stock Exchange in 1992, with a third of the company being sold for £10 million. Graham Richards was chairman. The company grew and did seven take overs in the USA reaching a market capitalisation of £450 million before being sold in two parts to the US companies Pharmacopeia and Millennium.