1. Scrip
  2. >>Business

CIC Raises £150M To Reinforce Cambridge Ecosystem

 
• By Mike Ward

Cambridge Innovation Capital completes £150m fundraising to give it more firepower to reinforce Cambridge, UK’s pre-eminent status as Europe’s leading life sciences and tech hub.

CIC secures funds to nurture Cambridge ecosystem • Source: Shutterstock

Despite uncertainty associated with the torturous discussions around the UK’s planned exit from the European Union, Cambridge Innovation Capital has secured an additional £150m ($196m) to finance the foundation and growth of high tech and life science companies in and around Cambridge, UK. This new fundraise brings the total capital raised since 2013 to £275m. “The new funds will be used to support the further development of the existing portfolio and help establish new businesses in the Cambridge cluster,” Victor Christou, CIC’s CEO, told Scrip.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Korean Biotech Roundup: GNT Set For First Direct Korean Biopharma IPO On Nasdaq

 
• By Jung Won Shin

GNT Pharma prepares for the first listing of a Korean biotech on Nasdaq, while others sign major global out-licensing deals with large multinational partners.

Ironwood To Consider All Options With Apraglutide Setback In SBS

 
• By Joseph Haas

With the FDA asking for another Phase III trial, the short bowel syndrome drug apraglutide could be years away from market, while the Linzess patent expiry and near-term debt loom.

Pfizer’s Danuglipron Is Done, Sparking M&A Speculation

 
• By Jessica Merrill

The company discontinued development of its oral GLP-1 receptor agonist for weight management due to a safety signal.

Scancell Signs UK Match-Making Pact For Melanoma Vaccine

 
• By Kevin Grogan

The Oxford group has linked up with the NHS Cancer Vaccine Launch Pad.

More from Scrip

Amgen’s Imdelltra Sets The Pace In Small-Cell Lung Cancer

 
• By Andrew McConaghie

The bispecific is the first in its class to record a Phase III survival win in small-cell lung cancer, although antibody-drug conjugates and other rivals could challenge in the coming years.

Pipeline Watch: Ten Approvals And Eleven Phase III Readouts

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.

Scancell Signs UK Match-Making Pact For Melanoma Vaccine

 
• By Kevin Grogan

The Oxford group has linked up with the NHS Cancer Vaccine Launch Pad.