Cambridge-based Qkine has raised £4.3 million funding. The round was co-led by Parkwalk Advisors and Downing Ventures and participated by several angel investors and funds, 4 of which being Enterprise Investment Scheme (EIS) funds. The company was awarded £450,000 from the Innovate UK’s Innovation Continuity Loans scheme and secured further support from UK Research and Innovation and the Centre for Process Innovation (High Value Manufacturing Catapult), allowing to double down on the company’s R&D activities. Qkine researches and manufactures high-purity, animal-free growth factors, cytokines, and other complex proteins. It leverages proprietary production methods to tackle the biological, quality and scale-up challenges associated with complex manufacturing processes. The proceedings of the round will be used to scaling up manufacturing, research and commercial operations. In addition, it will facilitate relocating the company’s headquarters to a new state-of-the-art facility in Cambridge, including a β-lactam-free and animal-free manufacturing suite. The company was founded in 2016 by Dr Catherine Elton (CEO) and Dr Marko Hyvönen (CSO). Currently it has export sales in 28 countries across Europe, Asia Pacific and North America and expects to triple the team during the next three years.
London-based Basecamp Research has raised £16.14 million Series A. The round was led by Systemiq Ventures and participated by Valo, Blue Horizon, True Ventures, and Hummingbird Ventures. The company is building a protein database in combination to an artificial intelligence model to design protein-based products for the pharmaceutical, cosmetics and food industries. The AI-enabled database displays protein feature and predict the qualities that occur in similar ones. Basecamp has created a knowledge graph of codes for proteins mined from more than 40 trips around the world, including Antarctica. The company operates on the basis that nature can be further harnessed to discover novel protein components with untapped potential. The proceedings of the round will be used to expand the team, validate internal products and expand its portfolio. Basecamp Research was founded in 2019 and has raised £24.2 million so far.
Cambridge-based STORM Therapeutics has raised $30 million Series B funding. The round was co-led by existing investors M Ventures, Pfizer Ventures, Taiho Ventures LLC, Cambridge Innovation Capital and new investors Fast Track Initiative and the UTokyo Innovation Platform. Existing investors, Seroba Life Sciences and IP Group PLC also participated in the round. STORM is developing small molecule therapies targeting RNA modifying enzymes (RMEs) for oncology and other indications. The company’s potential first-in-class orally-bioavailable candidate STC-15 inhibiting the RNA methyltransferase METTL3 recently reached clinical trials (NCT05584111). In solid tumor and leukemia models, STC-15 triggers efficacy response via direct cytotoxic and immune mechanisms. The proceedings of the round will be used to support the ongoing multiple-ascending dose trial of STC-15 and advance the company’s portfolio.
Cambridge-based Amphista Therapeutics has raised Series B extension funding. The round was led by the Dementia Discovery Fund, a specialist venture capital fund managed by SV Health Managers. The company raised $53 million Series B in March 2021 led by Forbion and Gilde Healthcare and participated by Novartis Venture Fund, and Eli Lilly and Company, BioMotiv and founding investor Advent Life Sciences. The proceedings of the round will be used to perform further preclinical development with a focus on diseases of the central nervous system, particularly dementia. Series B extension comes in recognition to progress made in Amphista’s Eclipsys platform. Amphista Therapeutics is developing bifunctional molecules for targeted protein degradation with a focus on genetic and clinically-validated targets in the neurodegeneration space. It leverages an approach beyond the E3 ligase-based mechanisms classically used by targeted protein degradation companies. Following the fundraising, Dr Christian Jung (Partner in the Dementia Discovery Fund) has been appointed to the Board.
London-based CheMastry Group has raised a “multi-million-pound” seed financing (details not disclosed). The round was led by Science Angel Syndicate and Undeterred Capital and participated by Elbow Beach Capital, Britbots, HERmesa, Fink Family Office, Kadmos Capital, Formic Ventures, Cur8, Key Ventures, and Dhyan. The company is developing automated technology for small to medium-scale chemical production labs for biotech, food tech and the pharmaceutical sector. The proceedings of the round will allow to grow the team and move itno purpose-built premises to expand the company’s manufacturing capabilities and portfolio. Johnatan Matlock, co-founder of Science Angel Syndicate, has joined the Board of Directors.
University of Strathclyde spinout Microplate Dx has raised a £500,000 seed financing. The round was led by Deepbridge Capital and the University of Strathclyde’s Strathclyde Inspire Entrepreneurs Fund, and supplemented by the Stephen Young Entrepreneurship Award for investment into early stage emerging entrepreneurs. In addition, £161,000 non-dilutive grant has been provided by Scottish Enterprise, as well as competition winnings including Scottish EDGE, the Converge Challenge and CPI (Centre for Process Innovation). Microplate Dx has been selected to join Scottish Enterprise’s High Growth Ventures (HGV) portfolio. The company is developing a test to detect antimicrobial resistance in under 40 minutes.
Oxford-based OxfordVR has been acquired by US-based BehaVR and raised $13 million Series B. The round was led by Optum Ventures and Oxford Science Enterprises, and participated by Confluent Health, Accenture Ventures, Chrysalis Ventures and Thornton Capital. The resulting Virtual Reality (VR) Platform will be used to develop clinically-validated digital therapeutics for mental and behavioural health. VR allows clinicians to create multi-sensory patient experiences that the brain processes as real. The resulting company will be led by Aaron Gani, BehaVR founder and CEO.
Cambridge-based Anglia Ruskin University has been awarded £5.7 million to build an Artificial Intelligence (AI) hub across the region. The funding will create three Centres of Excellence for Extended Reality and AI in in Chelmsford, Cambridge and Peterborough. The first of the centres being open for the 2023/24 academic year.
Birmingham-based Aston University has been awarded a £4.8m investment to develop a digital health facility to train medical students. The funding will be used to build a digital hospital ward to provide remote medical services, including an augmented-reality simulation for its optometry simulation suit, as well as simulation training facilities for students of the college.
Cambridge-based Alchemab Therapeutics has been awarded a £1.7 million grant from Innovate UK to investigate a disease-modifying therapy for Huntington’s Disease. The company has discovered a panel of antibodies utilising its proprietary platform. The funding will allow to triage such antibodies and perform preclinical development towards first-in-human studies. The work will be carried out in collaboration with Medicines Discovery Catapult. Alchemab is leveraging the unique antibody response of resilient individuals to develop drugs based on naturally derived antibodies to prevalent, hard-to-treat diseases which do not have disease modifying therapies.
Edinburgh-based Green Bioactives has raised £2.6 million seed financing. The round was led by Eos Advisory, alongside Regenerate Ventures’ Agtech Fund, the Milltrust International Group and Scottish Enterprise. The proceedings of the round will be used to expand the company’s manufacturing capabilities, as well as growing its management and production team. Green Bioactives (est. 2020) is developing bioactive compounds that cannot be readily produced sustainably or economically using alternative production approaches. The company is leveraging a plant vascular stem cells platform to performer various manufacturing processes. Andrew Durkie, Partner at Eos, has been appointed to the Board of Directors.
Manchester-based Carocell Bio has raised £404,000 follow-on funding. The round was led by Deepbridge Capital. The proceedings of the round will support pre-clinical testing for Carocell Bio’s lead anti-inflammatory peptide (JEL3108). JEL3108 is a peptide-based candidate designed to prevent scar formation after surgery through an anti-inflammatory MAP kinase-inhibiting mechanism. Currently, the company is working on optimising the candidate for topical application through a nanoparticle-based system. The candidate could also be investigated for potentially used to treat severe burns and chronic skin conditions such as atopic dermatitis.
Oxford-based Etcembly has raised a financing round (undisclosed details). The fundraising was participated by a new international investor Singapore-based iGlobe Partners. The company was founded in 2020 by Michelle Teng (CEO) and Jacob Hurst (CTO) and closed a seed round in April 2021. Etcembly is developing a machine learning platform (EMLy) to investigate immune repertoires associated to health and disease. EMLy enables AI-based engineering of novel T cell receptors (TCR) from the complete theoretical repertoire to develop novel immunotherapies. Alongside the founders, the company team is formed by Nick Pumphrey as CSO (ex-Immunocore, Adaptimmune); Scott Cuthillas CBO (Pharma executive, ex-Chroma Therapeutics, Ipsen, Valo Therapeutics); Nick Cross as Chariman of the Board (serial entrepreneur), Bent Jakobsen as Director (current CEO of Accession Therapeutics, co-founder of Immunocore and Adaptimmune); John McCafferty as Scientific Advisor (co-founder Maxion Therapeutics, Iontas, and Cambridge Antibody Technology).
Birmingham-based Fallouh Healthcare has been awarded £500,000 grant from Innovate UK to develop a diagnostic solution for cardiac tamponade. The company is developing a device (PerDeCT) to monitor cardiac patients after surgery, when tamponade manifests more frequently. It is a life-threatening condition where fluid builds up around the heart, strangling its ability to beat. The proceedings of the grant will allow building prototype and conduct a usability studies in collaboration with the University Hospitals Birmingham NHS Foundation Trust and the University of Sheffield. The company resides in Unit 9, a short-term medical technology incubator funded by University of Birmingham Enterprise.