CIC participates in PredictImmune’s £10 million Series B funding round
Funding will accelerate global commercial expansion of the company and support expanding product pipeline of prognostic tools
Cambridge Innovation Capital plc (CIC), the venture capital investor enabling visionaries to build global, category-leading companies in the Cambridge ecosystem, has participated in a £10 million Series B funding round in PredictImmune, a developer of pioneering prognostic tools for guiding treatment options and improving patient outcomes in immune-mediated diseases. Cambridge Enterprise, University Venture Fund, Parkwalk and BGF also took part in the fundraise.
The investment cements PredictImmune’s strong financial position, enabling it to build on the successful launch of its first product, PredictSURE IBD™, with a major focus on continued commercial expansion across Europe, the USA and other territories in the coming months. It also allows the organisation to expand its product development activities – extending existing programmes in inflammatory bowel disease (IBD) as well as moving into a range of additional autoimmune areas including systemic lupus erythematosus (SLE). PredictImmune is aiming to build a portfolio of new products to complement and enrich its prognostic test pipeline in the coming years.
Michael Anstey, Partner of CIC, said: “We are thrilled to work with our colleagues at Cambridge Enterprise to support one of Cambridge’s most promising businesses. PredictImmune is at the forefront of personalised medicine, enabling improved treatment choices for patients with immune mediated diseases. We are especially excited about its lead product PredictSURE IBD™, which has the potential to end ‘trial-and-error medicine’ for patients suffering with IBD.”
Paul Kinnon, CEO, PredictImmune added: “I am delighted with the level of investment secured in this latest round. It’s particularly gratifying to see our existing investors’ confidence in PredictImmune as they follow their initial investments and equally exciting to welcome new investors too. This investment will enable us to keep up the momentum, pushing on with our commercial expansion across the UK, Europe, the USA and rest of the world, whilst also allowing for the expansion and development of our product pipeline. It’s an exciting time to be part of PredictImmune, and as a team we are extremely motivated by both progress to date and our future objectives especially around enabling improved treatment choices in patients being diagnosed with IBD.”
About Cambridge Innovation Capital plc
Cambridge Innovation Capital (CIC) is a venture capital investor focused on intellectual property rich technology and life science businesses in the Cambridge ecosystem. CIC is committed to building leading businesses from brilliant technologies. It combines a unique relationship with the University of Cambridge with deep financial and industry links to support these businesses as they seek to fulfil their potential to change the world of tomorrow.
For more information please visit www.cicplc.co.uk or follow us on Twitter at @CIC_vc
PredictImmune aims to develop and commercialise a series of biomarker tests to guide physicians in the treatment of patients with immune-mediated disease, through prediction of long-term clinical prognosis. The first such test, for inflammatory bowel diseases, was discovered and developed in the laboratory of Professor Kenneth Smith, Head of the Department of Medicine at the University of Cambridge in collaboration with gastroenterologists at Cambridge University Hospitals NHS Foundation Trust and other UK NHS hospital trusts. His group has published on the underlying biology of the prognostic biomarkers that comprise the test, which also have relevance in other inflammatory and autoimmune diseases, including vasculitis and Lupus (SLE), where clinical research and development is ongoing in the Smith laboratory. Independent market research indicates that physicians, patients and payers will recognise the value of personalised treatment guidance in Crohn’s disease and ulcerative colitis. PredictSURE IBD™, the company’s first, truly validated and CE-marked test for guiding treatment options in inflammatory bowel disease (Crohn’s disease and ulcerative colitis) is now available in the UK. www.predictimmune.com