Awen Oncology secures a six-figure equity investment from the Development Bank of Wales and Start Codon
The university spin-out has raised over £1m in total funding to develop targeted cancer therapeutics.
A Welsh university spin-out developing targeted anti-cancer therapeutics based on human developmental genes.
Awen Oncology has secured a six-figure equity investment from the Development Bank of Wales and Start Codon to advance its pipeline of anti-cancer therapeutics. The latest injection brings total funds raised by the Bangor and Cardiff university spin-out to over £1m. Start Codon will additionally support the firm through its venture builder programme, whilst existing backers include Cancer Research UK and Innovate UK. The capital will be directed towards further research and development of the company drug portfolio.
From the founder
"Our technology opens up a new space in oncology drug discovery, to treat a range of malignancies, including rare cancers that currently have no effective treatment options. We are confident that the combined backing of the Development Bank and Start Codon, alongside the universities and M-Sparc, means that we now have the support to fast-track our innovative science into a successful global commercial venture that could help treat cancers."
Ramsay McFarlane
CEO at Awen Oncology
Investor perspective
"Awen Oncology is a really exciting company, with a game-changing technology that we believe has the power to unlock new cancer treatments and drastically improve patient outcomes. We are delighted to invest alongside our friends at the Development Bank of Wales – a first for Start Codon – and are looking forward to helping the Awen team to develop their technology and grow the company into a leader in the cancer therapeutics space."
Dan Rooke
Chief Operating Officer, Start Codon
Use of funds
- 01Fund research and development
Investors
Categories
About the company
Awen Oncology
Developing targeted anti-cancer drugs focusing on previously untargeted human developmental genes.