Danish biotechnology company Novozymes has separated its biopharma activities into an independent company called Albumedix. The new company will be headquartered in Lyngby, Denmark, with R&D and production facilities in Nottingham, UK. It will be fully owned by Novozymes and employ around 100 people.

Thomas Videbaek, Novozymes’ executive vice president for business development, said the business, which centers on developing recombinant albumin-based products and technologies, has great prospects and is now ready to be developed further outside Novozymes.

Albumin is a naturally occurring protein found in human blood. Albumedix’ recombinant albumins, branded Recombumin, are used in the pharmaceutical industry to stabilize drugs and vaccines. Albumin can also be used to extend the half-life of drugs to prolong their effect and Albumedix offers versions of this technology under the name Veltis.

The technology received its commercial breakthrough in 2014 when GlaxoSmithKline launched a diabetes treatment using Veltis, which allowed patients to dose weekly instead of daily.

The company said it currently has a growing pipeline of partner-driven drug candidates evaluating Veltis. Albumedix will also initiate the exploration of early stage clinical development based on Veltis and relevant drug candidates.

Peter Rosholm, who previously headed Novozymes’ biopharma business, has been appointed CEO of Albumedix. The leadership team will report to an independent board comprising three directors from the pharmaceutical industry and two representatives from Novozymes.