There is no easy way to make money, and this university student might seem that he’s become a millionaire overnight, but there’s more to it.
PhD student Harry Destecroix, his professor Anthony Davis from the University of Bristol and businessman Tom Smart have created a firm called Ziylo which was recently bought by Novo Nordisk of Denmark.
Why did this firm caught the global healthcare giant’s attention? The biotech company was sold for over £620million because it has developed glucose-responsive insulin, which could immensely change diabetes treatment.
According to the University of Bristol, the deal is beneficial for all people with diabetes in the world, because Novo Nordisk is the leader in the diabetes field.
Dr. Destecroix might get £143million from the deal, having 23% of the shares. On his Twitter account, he stated that he was ‘really excited’ by the deal:
“It’s all a bit overwhelming. But for me this is just the start — hopefully we can inspire other scientists.”
What Is The Ziylo Molecule?
Over 382 million people in the world have diabetes. In their study to find a better type of insulin, the team at Ziylo found a molecule that at first wasn’t a surprise:
“It wasn’t a surprise when the discovery was made two years ago. When we saw the properties it had, we were astounded. If you had an insulin you couldn’t really overdose on, that would be really exciting.”
Everyone that has Type 1 diabetes and some people with Type 2 diabetes must take insulin to keep the blood glucose at normal levels. The technology developed by Ziylo could make insulin react and adapt to the levels of sugar in the blood so that people with the condition can control their metabolism and avoid the risk of hypoglycemia or hyperglycemia.
Dr. Destecroix believes that developing a better insulin treatment should rest in the hands of Novo Nordisk, because they are “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.”
The next step that Novo Nordisk will take is to develop the new type of insulin with this molecule. They will continue the research and start clinical trials. However, the new treatment might take ten years to come to market.
Rex Austinwas born and raised in Thunder Bay Ontario on the shores of Lake Superior. Apart from running his own podcast (Ice Fishing And Other “Cool” Things), he spends his time canoeing and backpacking in Northern Ontario.. As a journalist Rex has published stories for Global News (Thunder Bay) we well as Buzz Feed and Joystiq. As a contributor to Great Lakes Ledger, Rex most covers science and health stories. Contact Rexhere