PIramed was founded by Professor Michael Waterfield FRS (Ludwig Institute for Cancer Research, London), Professor Peter Parker (Cancer Research UK) and Professor Paul Workman (Institute of Cancer Research, London). The Company's investors are JPMorgan Partners and Merlin Biosciences and the Company closed an £8 million ($13.3 million) Series A financing in July 2003. The Company became operational in August 2003 and is based in state-of-the-art laboratory premises in Slough, Berkshire, UK.