UK medical research in line for new City fund of funds windfalls
This article was originally published in Scrip
Executive Summary
A group of financial whizzkids (not sure what the collective noun is, a wallet of bankers?) has unveiled plans to float a new fund on the London Stock Exchange that is expected to generate millions each year to support UK medical research. The founders of the Battle Against Cancer Investment Trust (BACIT), a newly formed, self-managed, closed-ended investment company, have announced their intention to launch an initial public offering on the London Stock Exchange (bit.ly/QhAPU5).
You may also be interested in...
A Supercharged Charitable Investment Fund To Nurture UK's Biotech Ecosystem
The UK’s largest medical charities, the Wellcome Trust and Cancer Research UK, have backed the formation of a bulked-up £1bn long-term investment fund from the bringing together of Syncona, the CRT Pioneer Fund and BACIT, with the aim of building a self-sustaining UK biotech ecosystem.
AI Firm Healx Raises $56M To Develop Affordable Rare Disease Treatments
Cambridge, UK-based Healx has concluded a $56m series B round, led by Atomico, to put up to 50 potential rare disease treatments into the clinic within two years using its AI/ML platform.
Abalos Raises €12M Series A To Develop Arenavirus-Based Cancer Therapies
Tapping into the ability of arenaviruses to deliver prolonged local immune activation, rapid regression of localized and metastatic cancers, and long-term disease control, Essen, Germany-based start-up Abalos Therapeutics has raised €12m to advance its lead candidates towards clinical testing.