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£500,000 Seed Funding by Discovery Park Technology Fund for TC BioPharm Builds Kent Cluster for Immunotherapy Research
Last year Discovery Park Technology Fund invested seed-funds in pioneering clinical development company, TC BioPharm (TCB) providing a launchpad for clinical trials of new treatments for cancer and viral infections.
This year TCB raised an additional £6.25m series-A fund, cornerstoned by a major pharmaceutical company collaboration. In February 2016, the technology fund run by NCL Innovation, UK’s leading early stage technology investor, on behalf of Kent County Council announced its support of TC BioPharm (TCB), directly investing seed-finance of £500k from a fund focused on cutting edge immunotherapy research. Equity funds were subsequently increased by an additional £1m investment from NCL’s syndicate partners.
This Scotland-based technology company is focused on developing treatments for a variety of cancers and severe viral infections via an innovative immunotherapy process, where the body’s immune system is utilised to fight disease.
TCB’s lead product ImmunicCell® uses T lymphocytes (a type of white blood cell or killer cell) that have been grown in culture and specifically activated to target and kill cancerous tissue and infectious diseases.
DPTIF’s investment round in 2016 enabled TC Biopharm to initiate clinical trials, treating patients with various cancer types, including melanoma, lung and kidney cancer.
The investment was made by the Discovery Park Technology Investment Fund, run by KCC’s appointed fund manager NCL. It forms part of the £9m total raised by TC BioPharm over the last 12 months which has attracted a variety of private and institutional investors, including the Scottish Investment Bank and Japanese pharma company NIPRO.
Dr Mike Leek, Chief Executive of TCB, said: “We were delighted to have DPTIF funds ‘kick-start’ our clinical programme almost a year ago. NCL have been very supportive with the initial cornerstone investment made via the DPTIF.
“They continue to assist with our ongoing fundraising process. As the Company grows from strength to strength, we will continue working closely with NCL and the cluster of immunotherapy companies established at Discovery Park in Kent.”
Jerry Biggs, CEO of NCL Innovation, said: “We are delighted to be playing our part in the development of this exciting area of scientific research, working alongside KCC to give innovators the chance to fulfil their potential and continue to build Kent’s status as a centre of excellence for R&D.
“The Discovery Park Technology Investment Fund is proving to be a magnet for some of the most exciting technology companies working – like TCB on new treatments and processes that will revolutionise how science is conducted.”