STAR! Medicxi-backed Aldena Therapeutics has raised $30 million in funding to further develop its proprietary STAR particle technology. These are sub-millimeter star-shaped ceramic siRNA-containing particles that can penetrate only the skin. And while they were at it, Medicine Nobel Prize laureate Craig Mello has been appointed to its Scientific Advisory Board. Before we deep dive into the many interesting collaborations signed off this week, let's discuss one on internal affairs. Friends, this is the 44th issue of Cambridge Biocapital, which means something obvious and yet tremendously exciting: we have been together for 44 weeks.  We will soon reach a whole year, 52 weeks of this humble but committed effort to contextualise what happens in our great UK biotech ecosystem regarding public and private funding, scientific discoveries, investment funds, accelerators, partnerships and collaborations, appointments, pipeline updates, operations, public policy, regulation, and the rest of it. I am working on a little something to release alongside the 52nd edition of Cambridge Biocapital, a sort of “Cambridge Biocapital: A Year On”. If you enjoy this newsletter and would like your testimonial, project, or company to be featured, please reach out, and I will be delighted to include you. Moving on, we have to give it up for the University of Birmingham as it has facilitated over £1 million in funding for student and graduate startups through its incubator, UoB Elevate. Perspectum has completed the second stage of its $55 million Series C funding round, raising a further $19 million, and Yorkshire-based Eventum Orthopaedics has raised £2.5 million to advance its Quadsense device. More reasons to celebrate: Dr. Amanda Chaplin from the University of Leicester has been awarded a £250,000 prize from the Lister Institute of Preventive Medicine to further her research into the link between DNA damage and cancer. In addition, the UK's Medicines and Healthcare products Regulatory Agency (MHRA) will receive £10 million from HM Treasury to fast-track patient access to innovative medical products, and the UK Research and Innovation's Innovation Accelerators Program is investing £100 million in 26 R&D projects across Glasgow, Greater Manchester, and the West Midlands. Others are, however, holding back the celebrations. The Competition and Markets Authority has expressed concerns that UnitedHealth's £1.2 billion takeover of EMIS, a competing Leeds-based data firm, could lead to higher costs for the NHS, and US-based Concentra Biosciences has made a last-minute unsolicited proposal to buy all of Jounce Therapeutics, which was going to be acquired by the British RedX Pharma. One on pipeline reprioritisation (we love that expression, don’t we). Bristol Myers Squibb (BMS) has decided not to move forward with two of Exscientia (NASDAQ: EXAI)'s oncology development candidates. And yet, Exscientia is planning to progress these to IND. Very promising partnerships this week. Owlstone Medical has entered a Research Agreement with Bicycle Therapeutics to develop antigen-targeted Exogenous Volatile Organic Compound probes for early detection of lung cancer using Bicycle’s bicyclic peptide technology. Tropicand British Sugar have partnered to develop high-performance sugar beet varieties that can sustainably withstand viral diseases. And one for the artificial intelligence troupe: Cambridge-based Optibrium and Boston-based PostEra have announced a collaboration to integrate their AI drug discovery solutions. Music by Fleetwood Mac and details on Prof. Stuart Ward's book presentation, Untied Kingdom: A Global History of the End of Britain. Let’s dive in!

London and Boston-based Aldena Therapeutics has raised $30 million investment. The founding was led by Medicxi. The startup is developing siRNA-based therapies with transepidermal delivery for dermatological diseases. Aldena is developing six different compounds, three of which will be ready for IND filing next year, targeting conditions such as atopic dermatitis, vitiligo, alopecia areata, psoriasis, and other inflammatory diseases. Aldena’s proprietary delivery technology called STAR particles allows siRNA to penetrate only the skin, and only the skin, with transepidermal delivery. The STAR particles are sub-millimetric star-shape ceramic particles that are suspended in a formulation. Aldena has achieved in vivo and ex vivo proof of the concept. The company is led by Thibaud Portal, a dermatology industry veteran, and was co-founded in 2021 by Prof John Harris (UMass Chan Medical School), Prof Mark Prausnitz(Georgia Tech), Dr Andrew Tadros, backed by Medicxi. In addition, Aldena has established a Scientific Advisory Board chaired by Medicine Nobel Prize Laureate Craig Mello.

Yorkshire-based Eventum Orthopaedics has raised £2.5 million funding. The investment was participated by NPIF – Mercia Equity Finance (managed by Mercia and part of the Northern Powerhouse Investment Fund), Mercia’s EIS funds and several private investors, some of whom are orthopaedic surgeons. The proceedings of the round will be used to further develop its Quadsense device. The device aims to improve the success rates of knee replacement surgery by measuring the forces of a patient's quadriceps muscles before and during surgery. The funding will allow the company to begin production, apply for FDA approval in the US and expand the team to 20 people. 20 operations have already been carried out in New Zealand in conjunction with robotic surgery and the device has been granted UK CA approval and the ISO13485 standard for medical devices. Globally, around 2 million patients a year have knee replacements, with the figure expected to rise to 3.5 million by 2030.

Dr Amanda Chaplin from the University of Leicester has received a £250,000 prize from the London-based Lister Institute of Preventive Medicine to further her research into the link between DNA damage and cancer. The prize will allow her to use the university's cryo-electron microscopy facility to study the structure of DNA and proteins in atomic-level detail. Her research focuses on understanding the mechanisms that repair double-strand breaks in DNA, known as non-homologous end joining (NHEJ), which is also important for the body's response to viral infection. Understanding the repair process could lead to developing therapeutics against cancer and viruses. The Lister Prize Fellowships are awarded to up-and-coming researchers undertaking high-quality biomedical research, and are designed to assist scientists in situations where the prize money will have a significant beneficial impact on their work and career.

Oxford-based Perspectum has completed the second stage of its $55 million Series C funding round, raising a further $19 million. The investment was led by Oppenheimer. The company's software products enhance the capabilities of an MRI machine, capturing multi-parametric mapping data that enables its AI-driven software to measure organ inflammation with greater precision, aiding diagnosis and monitoring of patients with chronic diseases. Since the beginning of 2021, US adults covered by Medicare and commercial plans have had access to Perspectum's flagship diagnostic tool, LiverMultiScan, which assesses and monitors chronic liver disease. Perspectum will use the new funding to scale its US operations and accelerate its product pipeline for multi-organ conditions and oncology. Perspectum is a precision medicine company with offices in the US, the UK, Portugal, and Singapore.

London-based HelloSelf has raised $20 million Series B round to expand its therapist network across the UK and Europe. The funding round was led by Octopus Ventures, with participation from existing investors Omers, Mantaray, and Oxford Capital. HelloSelf is a healthtech startup working to optimise the speed and quality of care for its members through a rapid therapist-member matching process. The company works with referrer partners such as healthcare professionals, employers, the NHS, insurers, etc. Once engaged in treatment, HelloSelf offers support through messaging, tracking, and activities in a psychologist-designed app to help members achieve their goals faster.

Harpenden-based SugaROx has been chosen by Innovate UK to join its Global Incubator Programme. The accelerator supports the growth of agri-tech start-ups and was founded by Cultivator powered by Conexus, Emmertech, and Economic Development Regina and includes participation in the agri-tech accelerator in Canada. Biostimulants are emerging as one of the most promising solutions for farmers to improve the productivity, resilience, and sustainability of cropping systems. SugaROx's precision technology is a unique approach to this market, with UK field trials showing potential yield gains of up to 22% on wheat. SugaROx recently secured funding to expand trials internationally and launch work on four other crops in the UK and abroad.

Brighton-based Destiny Pharma has raised £7.3 million gross by offering shares at 35 pence per share through an open offer, a share placing, and subscription. The company has received 33% take-up of the open offer, raising £340,000. After deducting expenses, Destiny Pharma's net proceeds from the raise are £6.7 million. The funds will be utilised to support a collaboration agreement with US-based Sebela Pharmaceuticals for NTCD-M3, Destiny's lead asset in preventing recurrence of Clostridioides difficile infection.

Cambridge-based Lucida Medical is welcoming investors to join its EIS fundraising. The startup is developing AI software to detect prostate cancer, the most common cancer in men.

The UK's Medicines and Healthcare products Regulatory Agency (MHRA) will receive £10 million from HM Treasury to fast-track patient access to innovative medical products. The funding will be used to accelerate the approval process for cutting-edge treatments, such as cancer vaccines and AI-based therapeutics for mental ill-health, while ensuring patient safety. The MHRA will also establish an international recognition framework and build recognition routes with trusted regulatory partners, beginning with the FDA in the USA and the PMDA in Japan. The funding will support the MHRA's ongoing innovation work and give UK patients faster access to the most cutting-edge medical products in the world.

The UK's Competition and Markets Authority (CMA) has expressed concerns that UnitedHealth's £1.2 billion takeover of EMIS, a competing Leeds-based data firm, could lead to higher costs for the NHS. The CMA has given the companies five days to address its concerns or the deal will be blocked. EMIS provides electronic patient record systems used by the majority of UK GPs, and the CMA worries that the deal could reduce competitiveness in the industry, leading to higher prices for customers such as the NHS.

LifeArc is providing £3 million as part of the Cystic Fibrosis AMR Syndicate to accelerate the development of new treatments for people with cystic fibrosis (CF). The CF AMR Syndicate’s Collaborative Discovery Programme will support approximately five projects that aim to rapidly identify new antimicrobial therapies to treat chronic respiratory infections in people with CF. The programme will offer a collaborative approach to drug development, with successful applicants receiving expert advice and practical support from managing partners Medicines Discovery Catapult, LifeArc and Cystic Fibrosis Trust. Researchers worldwide can apply for up to £500,000 per project. The build-up of mucus in the lungs of people with CF leads to infections which can be difficult to clear, and the development of new antimicrobials to treat these infections is an urgent unmet need. Expressions of interest will open on the CF AMR Syndicate website on 30 March and close on 9 May 2023.

The UK Research and Innovation's Innovation Accelerators Programme is investing £100 million in 26 R&D projects across Glasgow, Greater Manchester, and the West Midlands. Innovate UK is leading the programme in collaboration with the three local partnerships. The Innovation Accelerator partnerships are led by local business leaders and will leverage private investment. The programme is expected to deepen understanding of the right interventions to grow innovation clusters throughout the country and cement the UK's position as a technology and science superpower. The projects range from developing health innovations to quantum technologies, green technologies, and the transition to net zero. The health projects include a risk stratification tool for colorectal polyp surveillance (University of Glasgow); the development and validation of technology for time critical genomic testing (DEVOTE) Programme (University of Manchester); the GM Advanced Diagnostics Accelerator (Health Innovation Manchester, hosted by Manchester University NHS Foundation Trust); the West Midlands HealthTech/MedTech ‘6D’ Innovation Accelerator (University of Birmingham); and the Digital Innovation TransformatIve Change (Connected Places Catapult).

The University of Birmingham has facilitated over £1 million in funding for student and graduate start-ups through its incubator, UoB Elevate. The £1million of funding is entirely external from the University and is made up of venture capital, private equity, crowdfunding efforts, and grants. Support from University of Birmingham alumni has also been crucial in the success of the programme. UoB Elevate is currently working with its second cohort of student and graduate entrepreneurs, helping with everything from funding to development and training opportunities to make their business ideas a success.

The UK government is establishing a taskforce on Foundation Models, the technology behind AI like ChatGPT, Google’s Bard and the forthcoming GPT4. The taskforce will be led by Matt Clifford MBE, chair of the UK's Advanced Research and Invention Agency (ARIA), and co-founder of Entrepreneur First. Its aim is to bring together experts to maintain the UK's position as a world-leader in AI technology and to harness the benefits of AI for the economy, job creation, security, and society. The taskforce's first priority will be to present a clear mission focused on advancing the UK’s AI capability. The EU Artificial Intelligence Act, which will regulate AI systems, is expected to go through the EU parliament at the end of this month, and it is likely that the UK will adopt similar legislation. Such legislation will be a core starting point for the taskforce as foundation models are at the heart of some of the main risks and issues surrounding AI, such as usage of personal data, biased models, as well as broader risks to society and business.

New research collaborations in climate change, epidemic preparedness and quantum science have been approved by the UK government's International Science Partnerships Fund (ISPF). The first 11 programmes include a joint research initiative in neuroscience, neurodegenerative diseases and dementia in Japan and the UK, a clean energy and climate change programme in partnership with Australia, Canada and the US, and a partnership with South Korea to support UK businesses in various fields such as digital health, clean energy, advanced manufacturing, materials, future mobility and smart cities. The ISPF fund will allow UKRI to work with partners in the UK and internationally, delivering benefits such as improved health and economic growth to the UK and the rest of the world, through bilateral and multilateral programmes.

Sir Paul Nurse OM CH FRS FMedSci HonFREng HonFBA MAE (2001 Nobel Prize in Physiology) has conducted a review of UK's research funding for over 18 months. The review identified significant problems in the UK's scientific growth, such as low government funding, a lack of 'end to end' funding, lack of diversity in research performing organisations, siloed working, overemphasis on reporting and bureaucracy, and poor working conditions for people pursuing careers in science. The blueprint for future improvement includes more UK government investment in RDI, a focus on full 'end to end' funding, increased diversity in research performing organisations, improved knowledge and permeability between the range of research performing organisations, removal of unnecessary bureaucracy, nurturing of talent, and effective international research arrangements, including association with Horizon Europe. These recommendations can bring about the evolutionary changes needed to ensure a revolution in the UK's RDI endeavour, vital for the future of the UK.

Cambridge-based Owlstone Medical has entered a Research Agreement with Bicycle Therapeutics (NASDAQ: BCYC). The companies will work together to develop antigen-targeted EVOC probes for early detection of lung cancer using Bicycle’s bicyclic peptide technology. The probes have potential for use in preclinical research, clinical trials, and as companion diagnostics and tests. The partnership aims to increase the performance of Owlstone's tests for the early detection of lung cancer, which is the most common cancer in the world. Owlstone has previously pioneered the use of EVOC Probes in early detection and precision medicine. The combined approach to be explored under the partnership will exploit Bicycle’s proprietary Bicycle technology to direct binding and accumulation of the probe on tumour cells, following which increased levels of the reporter chemical would be released. If successful, the resulting antigen-targeted EVOC probes will have the potential for use in both cell-based and in-vivo studies, patient stratification, and measurement of target engagement. Owlstone Medical is developing and applying breath-based diagnostics through its proprietary platform, Breath Biopsy. The platform includes a sample collection device, a commercial laboratory, and a catalogue of identified volatile organic compounds. The company's technology is protected by over 120 patents and it has an active portfolio of Breath Biopsy tests in development for the early detection of lung cancer and liver disease, and clinical tests for Small Intestinal Bacterial Overgrowth and carbohydrate malabsorption are already on the market.

Norwich-based Tropic and British Sugar have partnered to develop high-performance sugar beet varieties that can sustainably withstand viral diseases. This will reduce reliance on environmentally damaging pesticides. The partnership will focus on accelerating delivery of improved sugar beet varieties through Tropic’s proprietary GEiGS platform. The GEiGS technology combines elements of precision gene editing and a naturally occurring immunity mechanism known as gene silencing to develop crops that are better able to withstand disease and climate pressures. British Sugar is the leading sugar producer in Britain, working in partnership with over 3,000 growers and customers to deliver world-class product worldwide. Tropic is a pioneering agricultural-biotechnology company dedicated to the development of healthier, more robust, high-performing varieties of tropical crops. They are working closely with growers to promote consumer wellbeing and positive grower economics, while addressing crop stability and unmet nutritional needs.

Cancer Research Horizons and Predictive Oncology (NASDAQ: POAI) have partnered to develop cancer drugs using compounds from the CRUK network. Predictive Oncology's PEDAL technology will be used to evaluate Cancer Research Horizons' pre-clinical drug inhibitors of glutaminase to determine the cancer types and patient populations most likely to respond to treatment. Predictive Oncology is working to introduce human diversity earlier into the discovery process with the pairing of artificial intelligence and the world’s largest privately held biobank of over 150,000 tumour samples. The agreement bridges non-profit and industry, with revenue sharing for compounds developed and potential incorporation of PEDAL into future drug discovery processes.

Cambridge-based Optibrium and Boston-based PostEra have announced a collaboration to integrate their AI drug discovery solutions. Optibrium's StarDrop platform allows for small molecule design, optimisation, and data analysis. With the integration of PostEra's Manifold software, users can identify the best scalable synthetic routes. PostEra's Manifold software uses ML algorithms to select the best scalable routes for compound synthesis from accessible building blocks. To streamline project timelines, starting materials which are readily available to purchase can be easily identified through dynamic connections to contract research organisations, globally. Together, StarDrop and Manifold aim to deliver seamless data flow across design, optimisation, analysis and synthesis planning.

London-based Leucid Bio and Great Ormond Street Hospital (GOSH) have signed a commercial agreement for the manufacture of LEU011, Leucid's lead asset, for use in the treatment of haematological malignancies and solid tumours. The clean room facilities at the Zayed Centre for Research into Rare Disease in Children will be leveraged for the agreement. Each party will retain the ownership of the background assets, but Leucid Bio will retain the intellectual property arising from the manufacturing services performed. LEU011 is a novel lateral CAR structure that integrates complementary signalling domains in parallel across the cell membrane, replicating the natural side-by-side position of these molecules across the cell membrane that is seen in endogenous immune receptors. The company expects to file its CTA to initiate the clinical trial in the first half of 2023 and subject to regulatory approval, to begin dosing patients in the second half of 2023.

Cambridge-based BiologIC Technologies has joined NVIDIA Inception, an accelerator program for AI and data science startups. BiologIC is developing a biocomputer that processes biological components such as DNA, enzymes and cells into advanced biological products like therapies and foods. The biocomputer uses common hardware that can run multiple applications and eliminates the need for different instruments. BiologIC will use NVIDIA Inception to integrate edge computing and AI into the biocomputer, allowing users to operate dynamic workflows and benefit from machine learning models to get their bioproducts into manufacturing and onto the market more quickly. The program also offers BiologIC the opportunity to collaborate with industry experts and other AI-driven companies.

London-based Vivan Therapeutics has achieved the first two milestones in its ECHS1 program. ECHS1 deficiency is a rare congenital metabolic disorder caused by biallelic mutations in the ECHS1 gene. Individuals with this mitochondrial condition typically have signs and symptoms of developmental delay, dystonia, seizures, and brain abnormalities.a rare congenital metabolic disorder. The biotechnology company uses fruit fly models to develop in vivo models of genetic disease and then screens thousands of FDA approved drugs to identify potential therapeutics. Vivan is now seeking partnerships to assist with funding the next step of drug discovery.

The University of Birmingham has partnered with Innospec Inc. to accelerate research into speciality chemicals used in fuel, performance chemicals, and oilfield services. A new drug called exenatide has shown promising results in treating blinding headaches caused by Idiopathic Intracranial Hypertension (IIH), a debilitating condition that raises pressure in the brain and can lead to chronic headaches and even permanent sight loss. The drug was given as a twice daily injection into the subcutaneous tissue, and results showed that brain pressure was significantly reduced within two and a half hours of taking the medication. The aim is to gain enough evidence to allow the drug to be licensed for use in IIH patients in the future.

The University of Birmingham and University Hospitals Birmingham NHS Foundation Trust have announcedresults of phase two trial for exenatide. Results show exenatide, a GLP-1 receptor agonist used for type 2 diabetes, could treat blinding headaches caused by Idiopathic Intracranial Hypertension (IIH). The study is the first to show a rapid reduction in brain pressure in the first 24 hours of treatment, and could be a major step forward for IIH patients, who currently have no licensed drug options. The drug was given as a twice daily injection into the subcutaneous tissue, but a once weekly subcutaneous injection called Presendin will be trialled in the future. The aim is to gain enough evidence to allow the drug to be licensed for use in IIH patients in the future.

Oxford-based SynaptixBio has secured its second Food and Drug Administration designation this year for its treatment for TUBB4 leukodystrophy. The FDA granted the firm an orphan drug designation (ODD), which allows the firm to reduce research costs by a quarter through tax credits, secure grants to offset development expenses, receive approved testing guidance and be exempt from testing requirements and some regulatory fees. This could also give the startup eligibility to market the treatment exclusively for seven years in the US. The second FDA designation follows an announcement last month that the firm had been granted a rare paediatric disease (RPD) designation. The disease disrupts myelin surrounding nerves, leading to interruption of the signals between nerve cells in the brain.

Cambridge-based CMR Surgical has appointed Supratim Bose as Chief Executive Officer, succeeding Per Vegard Nerseth. Bose has over 40 years of experience in medical technology, having held leadership positions in organisations including Johnson & Johnson, Boston Scientific and ConvaTec. He joined CMR in 2023 as a senior advisor to the CEO before being promoted to lead commercial operations in Asia, Middle East and Africa. CMR is the global surgical robotics company and has installed more than 100 Versius systems globally. Versius is a versatile surgical robot that allows surgeons to perform fully robotic as well as a combination of robotic and manual laparoscopic procedures.

London-based ProtonDx has appointed Ann Wong as Chief Finance Officer. Wong brings a wealth of experience in scaling international businesses and leading finance operations. She has previously held numerous leadership positions at both corporates and early-stage businesses, including KPMG and NBC Universal. Wong's expertise will assist in strengthening the rigour to strategy, finance, and execution at ProtonDx, including the refinement of supply chain and operational excellence.

London-based Ambrose Healthcare has appointed Toby Wilson Waterworth as Chair of the Board. Waterworth is a senior executive and healthcare entrepreneur with a 30+ year track record of leading and developing high growth medical technology companies. He will support the company as it develops new therapies for treating rare and other hospital-managed diseases, which affect approximately 400 million people globally. Waterworth’s experience in market-pull and collaborative approaches will help the company to overcome many challenges in the development of new treatments for these patients.

Oxford-based Ultromics has appointed John Russell as the new Executive Chairman. Russell has over 30 years of experience in the medical device and diagnostic sectors of healthcare. He will support the company's efforts to expand and deliver on its mission of improving patient lives through earlier and more precise diagnosis of heart failure. Russell's experience in sales, marketing, business development, and research and development will be invaluable in driving the growth and success of Ultromics' EchoGo Heart Failure platform, which is the first AI platform to detect heart failure with preserved ejection fraction (HFpEF) by connecting echocardiography with artificial intelligence. EchoGo Heart Failure has recently received FDA clearance.

Cambridge-based CN Bio has appointed Deepak Singh as Vice President of Sales and Marketing. Singh joins CN Bio from PerkinElmer's Horizon Discovery where he was Head of Global Commercial. He will support the company's expansion of international operations, product research and development, and sales in key global markets. Singh brings over 30 years of experience within life sciences including supporting the recent launch of the company's PhysioMimix Single-organ Higher-Throughput System, designed to overcome adoption barriers currently limiting the use of predictive human liver models within drug discovery workflows.

Cancer Research UK has appointed Hitesh Thakrar, MBA, CFA as Member Board of Trustees. Thakrar (Partner at Syncona) serves as Council member at the Science and Technology Facilities Council, part of UK Research and Innovation, member of the Board of Trustees at the Alan Turing Institute, and Chair of the Health Innovation Network, the Academic Health Science Network (AHSN) for south London, one of 15 AHSNs across England.

Mission Street and BentallGreenOak are creating a new 100,000 sq ft life sciences facility in the Cambridge Southern Cluster, called The Press, Foxton. The facility will be a science and innovation campus, transforming a 7.8-acre site via a repositioning of a former printing press combined with new-builds. The development will create 16,000 sq ft of fully fitted lab and office space across two units in phase one, scheduled for completion in Q3 2023. Phase two will see the delivery of a newly constructed 65,000 sq ft building, due to complete in summer 2024.

Cambridge-based Nuclera has unveiled its new global headquarters at One Vision Park (Impington). The building was inaugurated by the Rt Hon Lucy Frazer KC MP. The building was designed to accommodate the company's growing workforce and provides an open, modern workspace that fosters collaboration and creativity. The new headquarters will serve as a hub for the company's global operations and will house key departments such as research and development, sales and marketing, and customer service. The new space consolidates various separate office buildings into one state of the art 30,000 sq ft facility.

Oban-based CuanTec has established a new plant in Glenrothes, making Fife its new centre of manufacturing. CuanTec aims to reduce carbon emissions, plastic pollution, and food waste while contributing to the circular economy. The plant uses shellfish waste to extract chitin, a naturally occurring biopolymer, with a wide range of applications in the pharmaceutical, cosmetics, and food industries. CuanTec's first products are strong, transparent, and flexible bio-based films that can replace single-use plastics, extend the shelf life of fresh foods, and reduce food waste. CuanTec's arrival in Fife has created about 20 new green jobs. The company has received assistance from Scottish Enterprise's Green Jobs Fund and is working with Skills Development Scotland to support inward investment.

London-based Cell and Gene Therapy Catapult has opened a new laboratory in Stevenage. The new Process Analytical Technologies (PAT) laboratory will provide a space for cell and gene therapy developers to monitor and control their advanced therapy manufacturing processes in real-time. This will help them to ensure the quality of their products as they scale up production. The laboratory is located near to current collaborators and developers working at the CGT Catapult Manufacturing Innovation Centre and other developers in the area. The opening of the laboratory follows the conclusion of the PAT consortium, a group of 24 organisations brought together by the CGT Catapult in 2021 to better understand advanced therapy bioprocesses and analytical technologies.

New York-headquartered Bristol Myers Squibb (BMS) has decided not to move forward with two of Exscientia(NASDAQ: EXAI)'s oncology development candidates. Exscientia and BMS will continue to collaborate in other discovery projects. The decision was taken as part of Bristol Myers' routine portfolio prioritisation. EXS74539 (an LSD1 inhibitor) and EXS73565 (a MALT1 protease inhibitor) are the two compounds BMS dropped, while another candidate from the same partnership, EXS4318, entered a Phase I study in recent months in immunology and inflammation. The compounds had met BMS' thresholds for potency, selectivity, dosing, and safety. Exscientia plans to start clinical testing on the compounds next year on its own. EXS74539 and EXS73565 are currently undergoing IND-enabling studies. These molecules were funded through a 2019 collaboration with Celgene. Exscientia is on track to meet its target of four molecules in clinical development by 2024.

Bagsværd-based Novo Nordisk (LON: 0TDD) is preparing to introduce its weight reduction drug, Wegovy, in the UK. The company has received approval from England's drug cost regulator, National Institute for Health and Care Excellence (NICE), for the drug's coverage. Patients with a body mass index (BMI) of at least 35 will be able to access Wegovy via an NHS weight specialist, while those with a lower BMI must have at least one related health condition. During the STEP 1 trial, Wegovy's users lost an average of 12.4% more body weight than those taking a placebo. NICE's BMI criterion is stricter than Wegovy's European label. The drug's launch was delayed due to a shortage of both Wegovy and its sister diabetes drug, Ozempic.

US-based Concentra Biosciences has made a last-minute unsolicited and non-binding proposal to buy all of Jounce Therapeutics' shares for $1.80 apiece (NASDAQ: JNCE), leaving the latter in the unexpected position of fighting off prospective suitors. The move comes after Jounce agreed to a reverse merger with the British Redx Pharma (LON: REDX) last month. Concentra's offer is subject to "the availability of at least $130 million of cash and cash equivalents at closing." Concentra's parent company Tang Capital already owns around 10% of Jounce.

Cambridge and Tokyo-headquartered Sosei Heptares (TSE: 4565) has announced that it has changed the market on which its shares are listed on the Tokyo Stock Exchange from the Growth Market segment to the Prime Market segment, effective immediately. The company believes that this move will help it to achieve its vision of becoming one of Japan’s global biopharmaceutical champions by providing enhanced support and access to long-term capital through greater exposure to institutional investment funds, both domestic and international. Sosei Heptares is specialises in G protein-coupled receptor (GPCR) focused structure-based drug design (SBDD) and development.

Good explainer in Nature Biotechnology of how some biotech startups are trying to tune protein function rather than overhauling it, shortening the leap between prediction and performance. It features the work of David Baker, Profluent, Generate Biomedicines, Arzeda, Monod Bio, and Cyrus Biotechnology.

Interesting interview with Dr Francesco Saverio Tedesco, Head of the Crick’s Stem Cells and Neuromuscular Regeneration Lab and doctor at the Great Ormond Street Hospital, on the advances in growing muscle tissue in the lab using a 3D bioengineering approach.

Red to Green Food Tech Podcast has interviewed Dr Elliot Schwartz, Lead Scientist for Cultivated Meat at The Good Food. They discuss new financing models to scale fermentation capacity and the impact of greenfield infrastructure in scaling fermentation.

Leaders from Cartesian Therapeutics, Poseida Therapeutics, REGENXBIO, and Spark Therapeutics predict that many more cell or gene therapies will be approved in 2023. As many as 13 therapies could be approved for use in the US, Europe, or both by the end of the year. The piece features the work of Atara Biotherapeutics and Orchard Therapeutics too.

The UK and Europe have attracted over 43% of global agri-tech investment, receiving nearly £81 billion from over 1,700 investors. Global investment in agri-tech almost doubled to £100 billion between January 2020 and January 2021. The UK is a leader in indoor farming and animal agri-tech, accounting for around 40% of its investment. Innovate UK is tied for the number of agri-tech companies invested in globally and is the top investor in Europe. The article discusses the potential for UK growth and differentiation in indoor farming and animal agri-tech, with animal agri-tech focusing on solutions to monitor, analyse and optimise animal health and production, as well as exploring animal substitution through alt proteins.

Coffee for coffee lovers: the New York Times has published a very detail timeline of Silicon Valley Bank panic. Worth a read.