University of Bristol spin-out CytoSeek听has raised a 拢3.5 million seed round to develop new cell therapies to treat solid tumours in cancer patients.听听
The funding is led by Science Creates Ventures (SCV), Bristol鈥檚 new deep tech EIS fund for science and engineering听start-ups, and听is the firm鈥檚 first investment since announcing its venture capital fund last December.听
Solid tumours account for听the majority of听deaths from cancer and are notoriously difficult to treat, even with existing immune cell therapies, because the tumour suppresses immune cells鈥� ability to kill cancer cells.听听
颁测迟辞厂别别办鈥檚听technology is designed to not only help target the immune cells to the solid tumour, but also to improve their cancer cell-killing ability.听
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The company was founded in November 2017 by Professor Adam Perriman 鈥� also Professor of Bioengineering in the School of Cellular and Molecular Medicine at the University of Bristol 鈥� and is led by experienced biotech CEO Dr Carolyn Porter.听
鈥淭his funding round led by SCV will enable us to succeed in scaling up our R&D efforts and advance our mission to develop next-generation cancer cell therapies,鈥� said CEO听Dr Carolyn Porter.听
鈥�Our ambition is to get our technology into cancer patients who are currently underserved by existing treatments and work with partners to make their cell therapies better.鈥�听
Professor Adam Perriman, Director and CSO, added: 鈥淪CV has played such a significant role in this investment process. Together with the Science Creates鈥� incubators and network, it provides the glue for our ecosystem which has enabled our success to date.听听
鈥�Our technology has real potential to improve cell therapies for cancer patients, and I feel confident this seed round will allow the company to progress to the next level.鈥�听
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SCV is a new early-stage deep tech investment fund that focuses on technologies with the potential to improve healthcare, quality of life, and the environment.听听
It is supported and backed by successful Bristol-based entrepreneurs behind some of the South West鈥檚 biggest deep tech exits, including Dr Harry听Destecroix听who, in 2018, sold his company听Ziylo听in a deal potentially worth 拢623 million.听
Dr听Destecroix听said: 鈥淲e鈥檝e been impressed with听颁测迟辞厂别别办鈥檚听academic credentials and the strength of its leadership team. It continues to push forward with its pioneering innovations by developing new therapies that could ultimately save thousands of people鈥檚 lives. I feel very positive about the company鈥檚 significant growth potential.听
鈥淗istorically, biotech companies in the South West have struggled to raise sufficient capital, even though the technology and research has been there. While founding my own start-up,听Ziylo, I became aware of just how many discoveries failed to emerge from the lab in Bristol alone.听听
鈥�No matter the quality of the research and discovery, the right ecosystem is fundamental if we are going to transform the 90% failure rate into an 88% success rate for听companies[1], and听create many more successful ventures.听
鈥淚t鈥檚 why we launched SCV; to find great technologies, syndicate with other world-class investors and get sufficient capital to help companies accelerate their technologies to market.听CytoSeek听is one of these examples.听听
鈥�It has also benefited from being based at our incubator, Unit DX, and with the opening of our second larger incubator, Unit DY, there will be space for the company to scale rapidly.鈥�听
SCV has been working closely with听CytoSeek听since its inception and led a syndicate of new investors that included听Parkwalk听Advisors,听Meltwind, Luminous Ventures and several angel investors in this funding round.