Scottish most cancers therapies agency receives bumper £9m funding

SCOTTISH most cancers therapeutics growth specialist, Cumulus Oncology, has secured a bumper £9m funding package deal.

The Edinburgh-based enterprise creates spin-out firms concerned within the growth of groundbreaking new most cancers therapies.

Cumulus will use the funding, which incorporates £6m from the Scottish Nationwide Funding Financial institution, to increase its portfolio of firms and assist speed up the way in which new most cancers medicine are progressed from discovery, by medical trials to sufferers.

Founder and CEO Dr Clare Wareing based Cumulus in 2017, establishing the primary organisation in Europe with a singular enterprise mannequin centered on accelerating the event of recent most cancers therapies.

Its purpose is to fast-track therapies for cancers that don’t reply properly to current therapies.

The primary firm to be created by Cumulus Oncology – Nodus Oncology – has two modern drug discovery programmes ongoing.

Nodus is actively engaged within the space of DNA injury response (DDR) while the second firm, presently in stealth mode, is about to be unveiled in early 2024.

Paul Callaghan with Dr Clare Wareing and Andrew McNeill.

The Scottish Nationwide Funding Financial institution has invested alongside Eos Advisory to safe the £9m of funding.

St Andrews-based Eos Advisory offers funding help to innovation ventures in science, know-how, and engineering.

The agency’s investor relations are managed by companion and world report breaking bicycle owner, Mark Beaumont.

Clare stated: “Oncology stays an enormous and necessary space of scientific and medical analysis.

“The final word aim is to extend the success charges on the important section III finish of medical testing which presently stays at under 50%.

“The help from the Scottish Nationwide Funding Financial institution means we will each help our current firms, increase our portfolio and proceed to develop the following technology of most cancers therapies.”

Paul Callaghan, funding director on the Scottish Nationwide Funding Financial institution, stated: “Cumulus, aided by a particularly skilled and succesful crew, is innovating not solely within the science, however in the complete strategy of how medicine are moved from discovery to later stage medical trials.

“We’re actually happy to be serving to them obtain their ambitions and shine a highlight on Scotland’s drug discovery capabilities.”

Andrew McNeill, managing companion of Eos Advisory, added: “The Cumulus method is one which helps the event of a variety of most cancers therapies – this inherently reduces danger by not putting reliance on one therapeutic candidate. 

“We see this as a very thrilling and novel enterprise mannequin, with a crew who’ve the observe report of getting introduced 17 new most cancers medicine to market all through their careers. 

“Eos has been proud to help Cumulus since its inception.”