London-based V7 Labs has raised $33 million Series A. The round was co-led by Radical Ventures and Temasek, and participated by current investors Air Street Capital, Amadeus Capital Partners and Partech, alongside several business angels. The company currently focuses on computer vision and automatic identification and categorisation in the fields of science and medicine. V7 Labs has not disclosed a full list current clients but these include GE Healthcare, Paige AI and Siemens, and other Fortune 500 companies. The proceedings of the round will be used to expand the team with engineers and build operations to launch in the US.
London-based Kesmalea Therapeutics has raised £20 million series A. The round was led by Syncona and participated by Oxford Science Enterprises. Kesmalea was founded by Dr Harry Finch (co-inventor of GSK’s commercial medicine for Asthma, Severent; Non-executive director at C4X Discovery), and is chaired by Dr Clive Dix (ex-Chair of the UK Vaccine Taskforce). The company is developing a platform to systemically modulate protein homeostasis using orally-bioavailable small molecules, essentially, a form of therapeutics with a PROTAC-like mechanism of action. No further information about the science has been disclosed. In 2020, Kesmalea secured a €470,000 convertible loan from the BioInnovation Institute (Denmark). Now, Kesmalea has become the second small molecule company in Syncona’s portfolio
London and Budapest-based Turbine has raised €20 million Series A. The round was led by Mercia and MSD Global Health Innovation Fund, and participated by Day One Capital and current investors XTX Ventures, Accel and Delin Ventures. Turbine is developing a cell behaviour simulation platform called Simulated Cell. The proceedings of the round will be used to advance its potentially first-in-class programs targeting DNA damage repair pathways. The platform identifies biomarkers and combinatorial strategies, as well as in vitro and in vivo biological models for experimental validation, to identify clinically validated targets invisible to other computational approaches. Turbine approach has already guided Bayer and two other top 20 Pharma companies in their drug discovery efforts.
Oxford-based Accession Therapeutics has raised £16.6 million Series A. The round was participated by new investors iGlobe Partner (Singapore) and existing Primavera Venture Partners, Birk Ventur, and other business angels. Ascension is developing its Trocept platform, which uses an engineered adenovirus (from Prof Alan Parker’s lab at Cardiff University) to target cancer cells via a discriminatory viral point of entry into. This feature would also enable tackling tumour diversity. Last year, the company raised £11 million to enable early stage pipeline progression. The company has two lead programs which are expected to reach IND stage by the end of 2023. The company is founded and led by Bent Jakobsen, PhD FMedSci, a pioneer of T cell receptor therapy for cancer and founder of NASDAQ-listed Adaptimmune and Immunocore.
Biorelate has raised £6.5 million Series A. The round was co-led by Maven Capital Partners and YFM Equity Partners, and participated by Manchester Tech Trust angels and Triple Point Ventures. Maven Capital Partners participation originates from its alliance with the British Business Bank at the Northern Powerhouse Investment Fund. Biorelate is developing a AI engine (Galactic AI) to leverage natural language processing for drug discovery. The proceedings of the round will be used to launch operations in the US. The company launched Galactic AI in 2020 and has been used to automatically build research intelligence trees from 38.3 million biomedical sources, and is currently used by AstraZeneca, Idorsia and several other undisclosed names.
London-based Applied AI Company (AAIC) has raised $42 million from investors including Abu Dhabi-based G42 and members of Dubai's Al Maktoum family. AAIC was founded by former Goldman Sachs banker Arya Bolurfrushanand is working on various verticals including insurance and healthcare. It has developed 3 products in the medical space, DeepDoc (NLP to process medical claims 98% faster semantically at a fraction of the current costs), and Covigilance.ai(stealth)/ Nash (stealth), both aiming at increasing margins through mission-critical automation.
London-based Julienne Bruno has raised £5 million seed funding. The round was led by Cherry Ventures and participated by Outsized Ventures, Seedcamp and Nicoya. Julienne Bruno is a plant-based food developer currently focused on dairy-free cheese alternatives. The proceedings of the round will be used to promote growth and help expanding partnerships, which currently include Selfridges London, Holland & Barrett, and Whole Foods Market. The company was found in 2020 by Pointr co-founder Axel Katalan.
France and UK-based Five Lives has raised €3.7 million seed funding. The round was led by Headline (US) and Speedinvest (Austria) and participated by Kima Ventures, Voyagers.io, Tiny VC, Proxy Ventures and Snow Capital. The company is developing a a direct-to-consumer app to help preventing dementia and Alzheimer. The app provides a game-based platform designed to detect and reduce the risk of dementia. The users have to fill in a risk assessment trained with a machine learning algorithm trained on 10,000 people. The company was founded in 2019 and the app currently has 25,000 users since launching last month. Five Lives has the support of Dementias Platform UK.
Manchester-based Bright Biotech has raised $3.2 million seed funding. The round was led by FoodHack and participated by Big Idea Ventures, CPT Capital, the FoodHack syndicate, and several angel investors. Bright Biotech is developing culture meat growth factors using organelles from plant cells. According to the company, in order to secure 1% of the global market for protein products, bioreactors will require approximately 3 tonnes of growth factor substances. The proceedings of the round will be use to reach the market during 2023.
London-based Surgery Hero has raised £2 million of seed funding. The round was participated by LifeArc Ventures, Crista Galli Ventures and Clarendon Fund Managers, and followed on by pre-seed investors SFC Capital. Surgery hero operates as digital clinic and is helping patients to prepare for and recover from surgery at home. The proceedings of the round will be used to implement a machine algorithm to its solution and start operation in the US. The company was founded in 2020 and it is now commissioned by 10% of Integrated Care Systems in the UK. In addition, Damien Lane(founding partner of Episode 1 Ventures) and Imran Hamid (Senior Investment Principal at LifeArc Ventures) have been appointed to the Board.
Cambridge-based Decorte Future Industries (DFI) has raised $1.6 million and “almost as much again is being negotiated”. DFI is developing machine learning-driven software to extract health data from sound. Trupen Modi, Director of Digital Health Innovation Strategy at Microsoft, has been appointed to the Board of Directors as Non-executive director. The software is able to extract (non-invasively) meaningful complex cardiovascular, respiratory, mental, neurological and gastrointestinal metrics. The company has set out plans to expand the algorithm to include arrhythmia, murmur detection and atrial fibrillation.
Eden Bio has raised £1 million seed investment. The round was led by SynBioVen (which includes Prof Richard Kitney and Prof Paul Freemont, leading founders of British synthetic biology), Lord David Willetts (former Minister for Universities and Science, and founder of the Synthetic Biology Leadership Council), and Sir David Harding (founder and CEO of Winton Group). In addition, the round was participated by Dhyan Capital, Saras Capital, Stefano Bernard and a consortium of business angels, including Dr Noor Shaker, Dr Sandra Blewitt, Kevin Mascarenhas and Andy Russell. Eden Bio is applying machine learning to strain optimisation.
Edinburgh-based Hearing Diagnostics has raised £1.1 million follow on investment led by Archangels. Other participants included Scottish Enterprise. Hearing Diagnostics is developing Audimetroid, technology to improve the quality of hearing tests. The proceedings of the round will be used to launch commercialisation in the US and expand the team.
Luna has raised £660,000 pre-seed investment from angel investors including Maria Ro and Kirsten Connell of Octopus Ventures and Miruna Girtu of Syndicate Room. Luna is developing a medtech app to improve teenagers’s health and development. It covers topics such menstruation, hormonal acne, skincare, sexuality, mental health, etc.
London-based Neobe Therapeutics has raised £520,000 pre-seed funding. The round was led by Discovery Park Ventures and Nadav Rosenberg (CEO of Saras Capital). Neobe was spun out (2021) from a collaboration between Deep Science Ventures and CRUK by Pedro Correa de Sampaio and Annelise Soulier. The company is developing programable live biotherapeutics to remodelling the tumour microenvironment and so removing the barriers preventing immune infiltration in solid tumours. The aim is to increase the number of patients responding to existing immunotherapies, which can reach up to 85%.
Cambridge-based BiologIC Technologies has raised investment (undisclosed amount) from Centre for Process Innovation (CPI) Enterprises. BiologIC and CPI have collaborated on multiple projects to advance bioprocess innovation since 2021. BiologIC is developing a biocomputer, an integrated and programmable automation system for producing biological data on demand. The biocomputer integrates biological data reducing the need for multiple different instruments.
Cambridge-based RxCelerate has acquired Methuselah Health UK Ltd (est. 2015) for an undisclosed amount. Methuselah Health developed ProQuant proteomics technology as engine for internal research in the age-related drug discovery space. ProQuant will now be available as part of the services offered by RxCelerate. According to David Moscale, CTO at Methuselah, ProQuant improves quantitative accuracy for LC-MS-MS-based proteomics and enables a whole range of applications that are currently difficult or impossible with existing technology (e.g. quantify post-translational modifications or proteolytic cleavages in protein complexes). RxCelerate is led by Jill Reckless and works as an out-sourced drug discovery and development company specialising in in vivo pharmacology, proprietary models of human diseases and cell-based assays.
Clinigen Limited has acquired Drug Safety Navigator (DNS). DNS is a specialist pharmacovigilance service provider based in the US. The acquisition enables Clinigen to integrate pharmacovigilance services (clinical and post-marketed medical products) for its clients in the pharmaceutical and life science sector. Financial details have not been disclosed.
Global Mutual (EU/US real state asset manager) has acquired Riverlabs Life Science Park Campus (Hertfordshire) from GSK. Riverlabs is a 28-acre area, including over 300,000 sq ft of laboratory space (and CL2 to CL4 space) as well as on-site sports facilities. Space can be occupied from January 2023.
Cancer Research UK has awarded £1 million to Dr Manay Pathania and team to investigate paediatric high-grade gliomas. The group has shown how mutations in genes that control childhood brain development can cause such tumours. The new funding will be used to explore the effects of these mutations to finding novel ways to prevent or stop tumour formation. The group is based at the Milner Therapeutics Institute.
London-based Complement Therapeutics has been awarded an Innovate UK EDGE grant. The funding will be used to define a regulatory strategy for the company’s lead product CTx001 in collaboration with the Cell and Gene Therapy (CGT) Catapult. CTx001 is a gene therapy for the treatment of dry age-related macular degeneration (Geographic Atrophy). Complement Therapeutics is a University of Manchester spinout working to develop therapeutics for complement-related diseases, as well as a quantification methodology to enable detection of over 30 complement cascade proteins for a more precise diagnosis.