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Kelley professor’s M-Score model remains most viable means of predicting corporate fraud
BLOOMINGTON, Ind. — Enhanced oversight over the auditing profession and firms’ financial reporting has led to a proliferation of models to predict financial statement fraud. But one of the first forensic models, the M-Score, devised by an Indiana University Kelley School of Business professor in the late 90s, remains accurate and is the most economically viable for investors to use, according to a forthcoming paper in The Accounting Review — the official journal of the American Accounting Association. The article, “The Costs of Fraud Prediction Errors,” co-authored by M. Daniel Beneish, professor of accounting and the Alva L. Prickett Chair at Kelley, compares seven fraud prediction models with a cost-based measure that nets the benefits of correctly anticipating instances of fraud against the costs borne by incorrectly identifying non-fraud firms as fraudulent. Even though newer fraud models early doubled the success rate of M-Score, which Beneish developed, they did so at the cost of a much larger number of false positives. As a result, the other models are not used in practice by auditors because they are too costly to implement as all flagged firms must be carefully investigated. “I have long known from my experience consulting with Arthur Andersen — for whom my model detected Enron before the debacle — and other public accounting firms, that litigation concerns relating to false positives — firms incorrectly flagged as having fraudulent financial statements — created an unwillingness by auditors’ general counsel to use fraud prediction models in practice,” Beneish said. “My efforts back then to improve the M-Score in the context of auditing failed because I could not increase the model’s success rate without increasing the number of false positives. It seems that the new models cannot either,” he added. Interestingly, as early as 2017 the M-Score flagged Kangmei Pharmaceutical, a Chinese publicly traded company that was involved in financial reporting fraud between 2016 and 2018. Like the Enron scandal in the U.S., the Kangmei Pharmaceutical scandal helped trigger new regulation in China that increased regulatory penalties for financial fraud (effective March 2020) and last November became China’s first successful class-action lawsuit involving corporate fraud. Its chairman was sentenced to 12 years in prison. “The main purpose of our paper is to provide evidence on the costs and benefits of using fraud prediction models, and to show whether using these models is economically viable for auditors, investors and regulators,” Beneish said. “This is important because the traditional measures commonly used in recent research to justify new models are misleading about model performance in fraud samples as the proportion of fraud firms in the population is very small, and as they typically assume that the cost of a false positive and false negatives (missed detections) are equal.” For example, assume that among 10,000 publicly traded firms, there are about 60 fraud firms and 9,940 firms without misreporting. The newer models detected 42 frauds (70% of the total frauds), and incorrectly flagged 3,976 firms (40% of the non-frauds). The latter is too large a number for most decision makers to investigate. “Our evidence that a cost-based assessment of models is preferable to traditional model comparison measures (e.g., area under the curve), should become even more important as efforts by future researchers in the areas of data mining and machine learning intensify,” Beneish said. Patrick Vorst of Maastricht University, assistant professor in financial accounting and accounting & information management, co-authored the paper with Beneish.
The 23rd annual Global Entrepreneurship Monitor 2021/2022 report measures entrepreneurial activity across 47 high, medium and low-income economies Data is gathered via a survey of at least 2,000 respondents in each country Mark Hart, professor of small business and entrepreneurship at Aston Business School, leads the GEM UK team. The 23rd annual Global Entrepreneurship Monitor 2021/2022 report, unveiled at the Dubai Expo, measures entrepreneurial activity across 47 high, medium and low-income economies. Mark Hart, professor of small business and entrepreneurship at Aston Business School, leads the GEM UK team. Data is gathered via a survey of at least 2,000 respondents in each country who answer questions on their entrepreneurial activity, attitudes to enterprise and view of their local entrepreneurial eco-system. The survey found that: 51% believed they had the skills and knowledge to start their own business 50% knew someone who has started a new business 61% of respondents believed there were good opportunities to start a business in their area, but 52% of these people cited fear of failure as a reason for not starting a new business in the next three years. The UK was ranked 40th in ‘entrepreneurial intentions’, 32nd in ‘personally having the skills and knowledge’ and 7th in ‘fear of failure’. Other survey responses in the UK found that, of those respondents who were actively involved in starting or running a new business, 30% believed the COVID-19 pandemic had led to a decrease in household income. But while more than a third (36%) of respondents thought starting a business was more difficult than a year ago, 63% were using technology to sell more products and services and 57% were pursuing new opportunities as a result of the pandemic – which was the joint 6th-highest of the 47 countries. Social responsibility also featured fairly high in entrepreneurs’ minds with 53% starting a business ‘to make a difference’, but was third to building ‘great wealth’ and ‘to earn a living’. Dr Sreevas Sahasranamam, senior lecturer in entrepreneurship and innovation at the Hunter Centre for Entrepreneurship, and one of eight authors of the GEM Global Report, said: “It is heartening to see that more than 50% of entrepreneurs in the UK are pursuing new opportunities due to the pandemic and more than 60% are using more digital technologies to sell products and services, indicating flexibility and adaptability. “On Entrepreneurial Framework Conditions, however, the UK is performing poorly compared to other developed economies on Government Entrepreneurial Programs and Entrepreneurial Education in School. “Amongst the 17 high-income countries (GDP per capita greater than $40,000) in our sample, UK has an average score (5.1) for its Entrepreneurial Finance conditions, while its score for Ease of Access to Entrepreneurial Finance (4.4) is the lowest amongst this group. Thus, finance remains a key challenge to entrepreneurial activity in the UK. “Entrepreneurship centres like Strathclyde’s Hunter Centre for Entrepreneurship can help in this regard by offering entrepreneurship education and support for students, staff start-ups and growth-oriented ventures, through initiatives like Strathclyde Inspire and our Growth Advantage Programme.” Mark Hart, professor of small business and entrepreneurship at Aston Business School and leader of the GEM UK team said: “Entrepreneurial attitudes and behaviours will be critical for the recovery after the pandemic as they were after the Great Financial Crisis over a decade ago. “The Global Entrepreneurship Monitor (GEM) project provides policymakers in the UK with unique data to understand the ability of local and regional economies to develop financial independence and create future growth. “The recent UK Government White Paper on Levelling Up was somewhat disappointing in that respect as it ignored this key dimension of economic development across the regions and home nations of the UK”. Globally, the GEM report found that in 15 out of these 47 economies, more than half of those starting or running a new business agreed that the pandemic had led to new business opportunities. In 2020, this had been the case for just nine out of 46 economies. In 2021, more than 50% of entrepreneurs agreed that starting a business had become more difficult in 18 of 47 economies. In 2020, almost twice as many (33 out of 46 economies) had 50% or more of their would-be entrepreneurs agreeing that this was the case. The Dominican Republic had the highest levels of early-stage entrepreneurial activity while Poland had the lowest. The Scotland GEM Report 2020 published in September last year by Strathclyde researchers estimated that 7.3% of the Scottish population – 247,000 adults – were actively engaged in setting up a business or already running an enterprise established in the last three-and-a-half years, including 60,000 young people in Scotland, or 13% of 18-24 year-olds.
Widening participation expert joins Aston University as visiting professor
Liz Thomas is a leading researcher in widening participation and closing the achievement gap She has a very strong international and national reputation for using her research to inform policy and practice Professor Thomas will work within the University’s College of Business and Social Sciences. A leading researcher whose work addresses patterns of under-representation in higher education has joined Aston University as a visiting professor. Liz Thomas is an expert in widening participation and closing the achievement gap. She has joined the University’s College of Business and Social Sciences to work largely with Aston Business School on inclusivity and employability. Professor Thomas has previously worked on the Teaching Excellence Framework Main Panel (Widening Participation Expert), been Chair of Advisory Group, Evaluation of pre-16 outreach work, Office for Fair Access (now Office for Students) as well as an International member of the Vice Chancellor’s Quality Review, University of South Wales, Australia. During the next Research Excellence Framework (REF) period her research will focus on higher education student and graduate experiences in the ‘new new normal’. The COVID-19 pandemic resulted in an emergency pivot by higher education providers worldwide, from predominantly present-in-person teaching, to primarily or exclusively remote and online learning. As the pandemic has progressed, HE providers have adapted to the new normal, providing a range of hybrid learning, engagement and support opportunities. Employers are also seeing the advantages of more flexible and hybrid ways of working, and this suggests that graduates will need demonstrate additional skills and competencies in relation to autonomy and time management, team working, digital skills and effective communication through a wider range of media. Professor Liz Thomas said: “I am very excited to have been appointed visiting professor in the College of Business and Social Sciences at Aston University. “I'm very much looking forward to working with colleagues on equity in higher education and employment. “Belonging will continue to be an important theme within my research, both conceptually and practically, and within higher education and employment, in the post-pandemic world. We need to capitalise on the advantages that have emerged, and ensure inclusion, and equitable outcomes for all.” Professor Helen E Higson, associate dean accreditations at Aston Business School, said: “I am looking forward to welcoming Liz to Aston Business School to share her knowledge on inclusivity and employability. “She will bring further leadership internally in areas which fit very well with Aston University’s values, student demographics and objectives. “She has a very strong international and national reputation for using her research-informing policy. Much current practice and policy in HE in the UK is influenced by her work.”
The Nesta study looked at innovation as applied to industrial policy and focussed on migrant micro-enterprises in Birmingham Experts found while there is some face-to-face business support in Birmingham, the majority of it is provided online and in English The Community Organising for Inclusive Industrial Policy study was conducted by Citizens UK Birmingham and the Centre for Research in Ethnic Minority Entrepreneurship (CREME) at Aston Business School. A new report by Aston University and Citizens UK Birmingham has found the UK Government must do more to include micro-enterprises with business support. The Community Organising for Inclusive Industrial Policy study, which was conducted by Citizens UK Birmingham and the Centre for Research in Ethnic Minority Entrepreneurship (CREME) at Aston Business School for Nesta, concluded micro-enterprises in principle can take advantage of business support that is available in Birmingham, but in practice there are several limitations. Experts found while there is some face-to-face business support in Birmingham, the majority of it is provided online with most of the various government and other websites which provide extensive business support information largely in English, and not directly accessible to those who have inadequate English language skills or lack a good level of digital skills. In Birmingham, the business leaders group successfully bid for a local authority contract to create public health videos in community languages, featuring community members in familiar locations as a way of making the content more relatable to the target audience. Professor Monder Ram, director of Centre for Research in Ethnic Minority Entrepreneurship (CREME) at Aston Business School, said: “It is wonderful to see CREME and Citizen UK’s highly impactful initiative on migrant business support receive this recognition from NESTA as an exemplar of ‘grassroots’ social innovation. “Our collaboration demonstrates the value of communities working together to support businesses and tackle common challenges.” You can read the full report HERE.
Aston University linguist awarded prestigious research fellowship
Dr Emmanuelle Labeau is one of three academics to have been appointed Research Fellows by the Arts and Humanities Research Council (AHRC) for the Future of Language Research They will carry out a horizon-scanning exercise which will inform the future of AHRC investment in language research The research team will also engage with language stakeholders from across the UK to inform their work. An Aston University linguist has been appointed to a key language leadership role by the Arts and Humanities Research Council (AHRC). Dr Emmanuelle Labeau, reader in French language and linguistics and director of the Aston Centre for Applied Linguistics (ACAL) at Aston University, has taken up the new post informing the future direction of research funding for languages. Dr Labeau will work to identify existing, new and emerging research themes in language research, as well as relevant policy areas that future language research could address, taking into account the needs and expectations of both academic and non-academic communities, wider stakeholders and government departments. She will work with Professor Nicola McLelland, University of Nottingham and Professor Michelle McLeod, University of Aberdeen, wias part of a research team which brings together a wealth of experience in language research. They will engage with language stakeholders from across the UK to inform their work and help the AHRC decide which areas of language research to support, as well as identifying potential threats, risks, emerging issues and opportunities. In addition, Emmanuelle will be carrying out a survey of the presence of languages in Birmingham. Her project, Birmingham Research for Upholding Multilingualism (BRUM), will focus on languages in education, business, public services and cultures. Dr Labeau said: “I am thrilled to be trusted with such a strategic task for the future of my discipline, while serving the region. I will be bringing to the team my experience of contemporary and relevant language research and teaching that widen participation and serve the needs of the community. I have started contacting stakeholders in Birmingham and I am keen to hear from all of Aston University’s beneficiaries.”
Podcast: Academics behind new course say ‘team leaders are the future’
Inspirational Team Coaching course aims to develop leaders for the 21st century New course needed because occasional team-building activities and ‘away days’ are not enough for the needs of today Inspirational Team Coaching will be split into three modules with launch due this autumn. Top business academics at Aston University are devising a new team coaching course with the aim of ‘upskilling’ the entrepreneurs of tomorrow. The Inspirational Team Coaching course, to be launched this autumn, will lead to a Postgraduate Certificate from the Centre for Innovation in Enterprise Education at Aston Business School. It has been developed by senior lecturer Dr Uwe Napiersky and senior teaching fellow Dr Elinor Vettraino, who discussed their plans in the latest episode in the ‘Aston means business' podcast series, presented by journalist Steve Dyson. Dr Napiersky, who spent more than 20 years in international consultancy, explained that his motto for team coaching was “team excellence doesn’t come by itself”. He said: “Focused team coaching makes the difference between muddling through or performing as one – the team as a whole is the key, not the different egos. We all know the old ‘sum of the parts’ sentence which is more important than ever.” Dr Napiersky said the new course helped their learners in areas such as collective team objectives and processes, and improved team dynamics. He said coaching was a “billion-dollar” industry and team coaching was one of the “newest kids in town. He added: “One of my slogans is ‘innovation is a team effort’. Many leaders still believe in this model of the 20th century, but it’s more about the 21st century, leadership more in a team direction.” His colleague Dr Vettraino, who incorporates team coaching into her consultancy work, said: “Organisations make an assumption that people know how to work together in teams and actually that’s often not the case.” She said that while employers tend to have team building activities, “they don’t address the day-to-day challenges and benefits of working in teams the way a coaching process can.” Dr Vettraino explained that team coaching can lead to increased motivation for staff, enabling innovation and creativity to grow, along with collaboration – which she said was “a key to surviving in industry nowadays”. She added: “Being supported by a team coach adds tremendous benefit to an organisation.” The course, to be delivered by experienced coaches and team leaders, is divided into three modules, with the first on ‘foundational knowledge and essentials’. Dr Napiersky said: “We go into team learning, we go into the area of innovating teams, and we will definitely look into real world team challenges our students will have.” The second module is focused on ‘Tasks and Mindset’. Dr Vettraino said its purpose was to take some of the foundational knowledge and put it into practice, by “looking at developing participants’ innovation, creativity, problem-solving and risk-taking capacity and mindset”. She added: “It’s going to enable the participants to really dig into the playfulness and creativity of their own coaching practice that will enable them to find new and different ways of working with teams.” The third and final module looks at developing ‘Professional Practice’. “It’s really in the third unit that participants start their own swimming and with their own swimming style,” explained Dr Napiersky. The understanding goes from unprepared to clear for themselves, from singular to systemic, from messy to focused or muddling through to structured.” Dr Vettraino chipped in: “There’s a lot of opportunity here to develop really rich projects in relation to their coaching practice. What we want them to do is hone their skills and capacity for inspirational team coaching with real clients they are working with so they can develop a very rich understanding of putting the first year module’s learning into practice.” To prepare students for the real world, Dr Napiersky said: “There’s a lot for internal coaches to do – getting teams clearer, getting them working, and helping them to build up more capacity, and applying the skills they will learn on this course.” Dr Vettraino said: “This skill base will enable people who are currently practising, perhaps as consultant coaches of their own practice, to develop something that adds to their toolkit. They can take it into their own practice and potentially even coaching other organisations.” To find out more about the programme email e.vettraino@aston.ac.uk or u.napiersky@aston.ac.uk. ▪ Episode 5 in series 4 of ‘Aston means business’ podcast can be found HERE.
Aston University announced as an Official University for the Birmingham 2022 Commonwealth Games
Birmingham 2022 Commonwealth Games will be held between 28 July and 8 August Aston University will provide ophthalmic expertise to the polyclinics The University is proud to support the mission of Birmingham 2022 to be the first Games to create a carbon neutral legacy Students have been set a challenge to develop ideas for creating a sustainable Games. Aston University has been unveiled as an Official University to the Birmingham 2022 Commonwealth Games, which will take place between 28 July and 8 August this year. The University’s School of Optometry will be loaning ophthalmic equipment and providing eye care expertise, supported by a network of qualified optometrist volunteers, for three polyclinics which will form the primary healthcare facilities for athletes and team officials requiring medical assessment and treatment throughout the Games period. Professor Leon Davies, professor of optometry and physiological optics at Aston University, said: “It is our aim to advance eye health in our region and society through innovative and clinically relevant education, research, and community engagement. I am looking forward to overseeing the Games’ eye care clinics throughout Birmingham 2022. “In addition to providing ophthalmic equipment during the Games, we have also brought together a cohort of volunteer optometrists, dispensing opticians and ophthalmologists from across the UK.” Dr Pam Venning, head of medical services at Birmingham 2022, said: “We are delighted to have Aston University on board as an Official University. Its School of Optometry is well-known for its innovation and world-leading education. “Birmingham 2022 wouldn’t be possible without teams of volunteers, and we are looking forward to working with the optometrists, opticians and ophthalmologists assembled by the University to support the athletes and officials attending the Games.” The University will also be supporting Birmingham 2022 in its aim to be the first Games to create a carbon neutral legacy by providing parking and hosting temporary electric vehicle charging facilities for its fleet, as well as other spaces on campus for its organising team. The director of Aston University’s Energy and Bioproducts Research Institute, Professor Patricia Thornley, said: “It is important that such a flagship event in Birmingham embodies the very best in sustainable practices, and we are working hard to support that.” Nicola Turner MBE, director of legacy and Jess Fidler, head of sustainability for Birmingham 2022 spoke to students in a special event in November setting out the work being done to create a legacy for the region, including the ambition to create a carbon neutral legacy. Birmingham 2022 has also provided this year’s business challenge for postgraduate business and management students at Aston Business School, who have been tasked with developing ideas for how the Birmingham 2022 Commonwealth Games can create a lasting sustainability legacy for the city. The best ideas from the challenge will be reviewed by the Birmingham 2022 team and the West Midlands Combined Authority, who are taking the lead on a sustainability legacy. Saskia Loer Hansen, Interim Vice-Chancellor of Aston University, said: “At Aston University, we take an holistic approach that embeds sustainability through all our external activities at local, national and international level. “We are proud to support the Birmingham 2022 Commonwealth Games in its aim to be the first Games to create a carbon neutral legacy.” Commonwealth Games Federation CEO, Katie Sadleir, said: “We are delighted to welcome Aston University as an Official University to the Birmingham 2022 Commonwealth Games. “The University will provide vital ophthalmic expertise and equipment for athletes and team officials requiring ophthalmic assessment and treatment throughout the Games. “This is a critical service and with Aston University, we have a fantastic partner to deliver this.”
Aston University programme aimed at helping diverse businesses hailed a success
The Diverse Supply Chains ERDF programme assists diverse and minority-owned businesses to enter the supply chains of major organisations Diverse businesses are those owned and managed by women, people with limiting disabilities, people who are LGBT+, ethnic minorities and young entrepreneurs They have also had the opportunity to attend a workshop programme with access to funding. An Aston University programme aimed at helping diverse businesses has been hailed a success by the companies taking part. The Diverse Supply Chains programme supports local diverse1 businesses to enter the supply chains of major organisations through a specialised workshop programme and facilitates relationships between the businesses and large private and public sector corporate contractors. It also provides grants worth up to £2500 (match funding). The programme is being delivered in collaboration with Balfour Beatty Vinci, High Speed 2, Birmingham City Council, NatWest, The OM Group and Bournville Village Trust. To date, 98 businesses have been supported via two workshop programmes, out of which 19 have received grants of £2500. Furthermore, the programme has announced that three businesses have won a total of six bids since completing the programme. Professor Nick Theodorakopoulos, Programme Director, said: “I am delighted to see that the support we’ve been delivering to local diverse businesses has been really well received. Particularly the opportunity given to the SMEs to attend an innovative workshop programme with key industry partners; with participating businesses also having access to some funding in order to support their business tendering/supply chain activities.” Kavita Jeerh, ERDF Programme Manager at Aston Business School, said: “I am really pleased with how the programme has progressed so far. Considering we were due to launch the programme in April 2020, due to lockdown we were forced to re-assess the programme delivery and make key components of it accessible online. “This was challenging, but I am pleased to see that the two workshop programmes we have already delivered have met with remarkable success. “We are now half-way through delivering the final cohort.” Kamaljit Suman, co-founder of Art of the Heart CIC, commented: “If we hadn’t have done the Diverse Supply Chains course we would’ve gone down as a business - there’s not much doubt in my mind that that’s the case. “Since then, we have won our first contract with Birmingham City Council.”
Tony Cocker is senior independent director at SSE plc and chair of Infinis Energy Management He was CEO and chair of E.ON UK from 2011 to 2017, and was also chair and non-executive director at various organisations, including Affinity Water Ltd, EIC, and the Energy & Utilities Industrial Partnership Professor Cocker will work within Aston University’s College of Business and Social Sciences focussing on energy operations, innovations and sustainability. Independent Director at SSE and Infinis and former CEO of E.ON UK has joined Aston University as a Visiting Professor within the College of Business and Social Sciences. Tony Cocker will work closely with the director of the Centre for Circular Economy and Advanced Sustainability (CEAS), Dr Luciano Batista, and the director of the Energy and Bioproducts Research Institute (EBRI), Professor Patricia Thornley, to develop connections between Aston University and the energy industry over the next three years. In the next 12 months, Tony will engage with undergraduate and postgraduate students across Aston Business School and with researchers at CEAS and EBRI. He will support the development the CEAS Advisory Board, give programme specific and public talks, and participate in networking events that will appeal to a wide range of key stakeholders such as students, academics, industry, and government partners across Aston University. The potential to support Aston student placements opportunities and mentoring for students will also feature as part of Tony’s engagement. Professor Cocker will also work with colleagues at Aston Business School and EBRI to expand research connections in common areas of interest associated with energy innovations, business strategies and sustainability. Professor Cocker said: “I am excited and motivated to join Aston University as a visiting professor. I am looking forward to supporting the teaching and research agenda of the university, capitalising on the knowledge and industry connections I have built over the years in the energy sector and related industries.” Dr Luciano Batista, head of CEAS at Aston Business School, said: “I am looking forward to working with Tony. His professional experience and vast industrial connections will add considerable value to the teaching activities and research collaborations we develop across key programmes and research projects in the business school. It is a great privilege to have an experienced business leader in the faculty team at Aston Business School. This well-deserved appointment recognises the notable contribution Tony has made, and continues to make, to the industry over the years.” Professor Patricia Thornley, director of the Energy and Bioproducts Research Institute (EBRI), said: “Tony brings a wealth of knowledge and experience which will be really valuable to Aston University. We already have a long list of areas where we will be working together so that our students can benefit from his expertise and I look forward to working with him to expand the relevance of our research and engagement, particularly in energy”.
Aston University has teamed up with biotechnology company Biocleave Ltd in a new knowledge transfer partnership (KTP) to develop the company’s capacity to produce membrane-associated proteins on a competitive commercial scale. The partnership will see Aston University’s world-leading expertise provide next-level solutions to a complex problem and provide exciting breakthroughs from both commercial and scientific standpoints. A knowledge transfer partnership (KTP) is a three-way collaboration between a business, an academic partner and a highly qualified graduate, known as a KTP associate. The UK-wide programme helps businesses to improve their competitiveness and productivity through the better use of knowledge, technology and skills. Aston University is the leading KTP provider within the Midlands. Biocleave Ltd produces ‘Research Use Only’ (RUO) proteins. These are used widely in industry and academia to study and develop diagnostics and disease treatments. The process of manufacturing these proteins is known as ‘expression’, requiring host cells to produce them. The company is the first to engineer the non-pathogenic microbe Clostridia as a recombinant protein expression host, enabling them to overcome the typical expression challenges of production host toxicity and costly development cycles. Initial trials have demonstrated advantages to making membrane-associated proteins in Clostridia compared with established production systems. However, these proteins are associated with the fatty membrane that surrounds a cell and are not soluble in water. While Biocleave has well-established proprietary technology for manipulating the microbes, they want to extend their expertise for purifying these challenging membrane proteins, essential to commercialising their production. The Aston University team will be led by Dr Alan Goddard, senior lecturer in biochemistry in the School of Biosciences and founding member of Aston Membrane Proteins and Lipids (AMPL). Dr Goddard’s research focuses on the application of membrane biology to industrially relevant problems. He has nearly 20 years' experience working with membranes and their integral proteins. Dr Goddard will be joined by Professor Roslyn Bill, associate dean (research) for the College of Health and Life Sciences and director of AMPL. Professor Bill’s research focuses on the purification and characterisation of membrane proteins and she has published extensively on yeast as a recombinant expression host. Commenting on the project, Dr Goddard said: “This is a really exciting opportunity to leverage the decades of research experience Professor Bill and I have with expressing and purifying membrane proteins. It will allow Biocleave to enter new markets, many of which are important for drug development and healthcare. Hopefully, the products we make will have positive benefits not only for Biocleave’s customers but also wider society.” Dr Liz Jenkinson, chief executive of Biocleave Ltd, said: “We’ve made great progress in establishing the technology to work with Clostridia, a promising host, and although we’re constantly learning, so much is still unknown about the clostridial membrane. Through this KTP partnership with Aston University, we’re excited to develop the skills of our staff and expand our commercial offering to extend our range of RUO protein targets.” Because the Clostridial membrane adds a new level of complexity, successfully developing the required tools internally to resolve these issues, without input from experts, would take considerable time.
