Over £47m for investment in early-stage UK life sciences

International venture capital firm Epidarex Capital has raised over £47.5 million to lead investments in early-stage life science and health technology companies. Pharmaceutical company Eli Lilly and Company took part in the final closing – along with King’s College London. Lilly’s significant investment is its first in a UK venture fund, and highlights the strength of the early-stage life science sector in the country. Elaine Sullivan, Vice President of Global External Research and Development at Lilly, said: “Lilly’s commitment to this pioneering Epidarex fund will increase collaboration across industry and academia to help speed the delivery of new treatments for unmet medical needs. This investment reflects Lilly’s strong belief in the excellence of life science research and development in the UK and will complement our own R&D and existing academic partnerships to help make life better for patients around the world.” Epidarex Capital invests in early-stage, high growth life science and health technology companies in under-ventured markets, and was created to meet the need for more sector-specific financial backing for your companies, including spin-outs from leading research universities. This latest round of funding is supported by a wide range of investors including the European Investment Fund and Scottish Enterprise, plus the Universities of Edinburgh, Glasgow, and Aberdeen, and King’s College London. This close working relationship will provide Epidarex with access to some of the most innovative healthcare start-ups, including those specialising in novel drug development. “Funds like Epidarex Capital involving major international partners recognise the untapped potential in life sciences research at King’s College London and other UK universities,” said Chris Mottershead, Vice-Principal (Research and Innovation) at King’s. “These funds provide the much-needed capital to carry translational research from the laboratory to the commercial market, and should attract more investor interest in the world-class research carried out across the UK.” Sinclair Dunlop, Managing Partner at Epidarex Capital, said: “The completion of our fund is a significant validation of the UK’s life science research base. We have been delighted to attract a broad range of investors, including Lilly, one of the world’s most prestigious pharmaceutical firms. All of our investors are committed to the fund’s goal of providing the scalable capital needed to commercialise the UK’s most innovative research.”