Sir Richard Sykes, the former chairman of GlaxoSmithKline, has been lined up to chair NCPharma. The company will be run by Dr Rob Armstrong, a former executive at Eli Lilly, the US drugs company.
In presentations to potential investors, NCPharma has described itself as “a unique biopharmaceutical company formed from over USD $1.0 billion of high quality research resulting in a portfolio of potential medicines targeted to cancer, diabetes, cardiovascular ailments and other diseases”.
It is already understood to have secured an agreement in principle with Merck, Sharpe & Dohme (known as Merck in the US) to license in dozens of its products. NCPharma is now in talks with several other global pharma companies, including Johnson & Johnson and Wyeth.