UCLB spin-outs at heart of new £1 billion life sciences investment group
UCLB spin-out companies will be at the heart of a new £1 billion life sciences company which has been created by three major investors in cancer research and other biotech fields.
The new company, which was announced earlier this month, will bring together Syncona, the heath care investment company launched by the Wellcome Trust which has invested in a number of UCL spin-outs, BACIT – a listed investment fund set up to fund cancer research and the CRT Pioneer Fund, which was established by Cancer Research UK.
Syncona has been a leading investor in UCL spin-outs. Its recent investments include cancer immunotherapy companies Autolus and Achilles Therapeutics , and Freeline Therapeutics, which is developing gene therapies for bleeding and other disorders.
The new company will be listed on the London Stock Exchange and focus on cancer biotech investment.
Dr Celia Caulcott, Vice-Provost (Enterprise), said: “This is excellent news for biomedical research and particularly cancer treatment. The new fund will enable even more companies to be financed through the early development stage and we look forward to continuing our collaborative work with Syncona and the other partners in the venture.”
UCL has a long and successful track record of commercialising its research through its technology transfer company UCL Business. UCLB has launched over 60 spin-out companies to bring intellectual property developed by UCL researchers to market.