That represents five times the value of the business when Quester, which runs three VCTs, invested in November 2003.

Quester director Jonathan Gee commented: ‘This is a great result and also great news for GlycArt as it gives its product candidates and technologies the opportunity to realise their full potential.’

Swiss-based biotech concern GlycArt has developed technology that assists in the development of a new generation of antibody products. Theoretically this should generate ‘best-in-class’ therapies for diseases such as cancer, in which Roche specialises.

GlycArt, spun out of the Swiss Federal Institute of Technology in 2000, also has three monoclonal antibodies that could combat the deadly diseases in pre-clinical tests.

Quester has recently merged its first three VCTs.