Molecular modelling firm invests in drug design

NEWS Modelling software specialist Oxford Molecular is to purchase the remaining equity in drug design consultancy Cambridge Combinatorial. Already in ownership of just under 20 per cent of the company, Dr James Hiddleston, director at Oxford Molecular, said: "IT is the vital glue within the pharmaceutical industry." He explained that the strategy has always been "to acquire the balance of the equity", but only when the company "became profitable". The outstanding shares will cost Oxford Molecular £12.4m with £3m paid in cash and the remainder settled by issuing 12.7m shares.