RareCan secures £340k seed funding to advance rare cancer research
The seed round was backed by returning angel investors and the Women Angels of the North Syndicate.
Share allotment filed at Companies House
RareCan is a Newcastle-based health research platform that connects rare cancer patients with researchers to accelerate treatments and diagnostics.
Newcastle-based rare cancer research company RareCan has closed a £340k seed funding round to support its next phase of development. The capital was backed by returning angel investors alongside the Women Angels of the North Syndicate.
The proceeds will be used to create new roles across technology, cyber security, social media, community development, and scientific support, while expanding patient recruitment efforts to aid rare cancer research.
RareCan previously raised a £200k pre-seed round last year following joint pitch events with Newcastle Angel Hub and NorthInvest.
From the founder
"This is a really exciting investment for us. The money will allow us to build on the foundations we have put in place and grow our business by bringing in new team members with skillsets that will strengthen our existing operation. It has been fantastic to see investors from the pre-seed round re-investing for a second time. They are very supportive in seeing us achieve our mission to accelerate research and improve the outcomes for people with rare cancers."
Simon Allocca
Chief Financial Officer at RareCan
Investor perspective
"This is a really exciting business that I’m delighted to see have another successful round of investment. I’m thrilled that we’ve been able to help RareCan secure Angel investment through our programme of joint pitch events with North Invest, with many investing for a second time. The North East has a growing reputation for driving innovation in healthcare, and RareCan’s focus on supporting research into rare cancers will no doubt enable further innovation in this field. The Women Angels of the North Syndicate were struck by Rarecan’s desire to help those with rare forms of cancer and I’m looking forward to watching this business continue to accelerate research and treatment."
Jordan Dargue
Board Director, NorthInvest
Use of funds
- 01Grow the team
- 02Scale operations