LONDON--(BUSINESS WIRE)--Frontier Biosciences Limited (“FrontierBio”) announces the acquisition by its parent company, Zahra Holdings Limited, of the 49.9% shareholding in FrontierBio held by a wholly-owned subsidiary of NetScientific plc (“NetScientific”). Zahra Holdings (owned by the Azima Family Trusts) now owns the whole of the issued share capital of FrontierBio. The Azima Family Trusts continue to hold a significant shareholding in NetScientific.
Farad Azima is a technology entrepreneur who has been responsible for a number of successful start-ups. These have included NetScientific (which was the subject of an IPO on the AIM market in 2013 and is now an international force in biomedical and healthcare technologies) and FrontierBio. Farad Azima parted company with NetScientific in January 2015, and established FrontierBio in March 2015 in partnership with NetScientific.
NetScientific is increasingly focusing on its core businesses, and this presented an opportunity for the Azima Family Trusts to acquire full ownership of FrontierBio.
FrontierBio pursues closely targeted, strategic investments in the life sciences sector. It is engaged in a number of advanced scientific research programmes in diagnostics and genomics with major European research institutions. Additionally, its recently formed sister company, CetroMed Limited, is investing in drug development joint ventures in Europe.
Dr Don Daley, Chief Scientific Officer said:
“We are dealing with highly focused opportunities in diagnostics, prognostics and therapeutics. What is particularly exciting is our balanced value chain which will prove important to our future investors.”