Domainex Ltd, a privately-owned drug discovery services company, is pleased to announce that Dr Timo Veromaa has been appointed Executive Chairman with immediate effect. His appointment expands and strengthens the existing Board and Executive Management Team; Dr Veromaa will have a pivotal role in leading the organisation through a continuing period of growth and investment. In the past 12 months, Domainex has doubled its laboratory space with a move to the Domainex Medicines Research Centre on the Chesterford Research Park near Cambridge, and has expanded its international team of scientists by more than 50%.
‘I am thrilled to join Domainex at this exciting stage of the company’s development,’ said Dr. Veromaa. ‘Domainex enjoys an outstanding reputation for scientific excellence in drug discovery. I believe we are in a strong position to build on our capabilities to serve our global client base. I look forward to developing and implementing our future growth strategies in drug discovery services.’
Dr. Veromaa brings a wealth of commercial success and drug discovery experience; he was President and CEO of Biotie Therapies Corporation for over 11 years until its acquisition by Acorda Therapeutics in 2016. During this period he achieved significant growth in the company, including the launch of Selincro® (an opioid antagonist), and a listing on the US Nasdaq stock exchange. During his earlier career he was a Medical Director of Schering Ltd. in Finland, Senior Scientist and Project Director at Collagen Corporation and a Postdoctoral Fellow at Stanford University in California. He is a medical doctor with a PhD in immunology from the University of Turku, Finland.
‘We are delighted to welcome Timo Veromaa as our Executive Chairman’, commented Trevor Perrior PhD, Chief Scientific Officer for Domainex. ‘His track record of blending commercial success with scientific innovation is evident. Domainex has come a long way since it was established in 2001 and we are exploring a number of exciting growth opportunities that will enable us to broaden the range of services we offer our clients.’
Established in 2001 as a spin-out from University College London, Birkbeck College, and the Institute of Cancer Research, Domainex Ltd. is a Cambridge-based, privately-owned small-molecule therapeutics company that provides integrated medicines research services to global pharmaceutical, biotechnology and academic partners. Services cover a wide span of the drug research value chain, from disease target selection to pre-clinical candidate nomination. Domainex’s services include recombinant protein expression and use of its proprietary technology platform, Combinatorial Domain Hunting, to identify soluble protein fragments for structural biology and assay development. Hit finding activities encompass assay development and screening utilising its BioassayBuilder, FragmentBuilder and LeadBuilder platforms. The core of the service offering is undertaking multi-parameter medicinal chemistry optimisation of hits and leads under the mantra ‘every compound counts’, which can save up to 30% on the average industry time from target to candidate.