The financing from Sofinnova Partners and Old College Capital will support the launch of precision fibrosis therapeutics.
"Launching Forth Tx through Sofinnova’s biotech accelerator has allowed us to translate years of our multiomics-driven research into precision therapies that we hope will transform patients’ lives. Fibrosis is an area of huge unmet medical need, and I’m delighted to be working with Alex and the Sofinnova team, as well as OCC, to deliver potent, new treatments for patients with fibrosis."
— Neil Henderson, Chair of Tissue Repair and Regeneration at the University of Edinburgh
The Edinburgh spinout will use the capital to launch new programmes and establish its operational footprint.
"We are so excited to be taking the next step in our spin-out journey and want to sincerely thank all the investors and supporters who have helped us make it happen. Our ambition is to be the go-to partner for gene control to make gene and cell therapies as safe as possible. This commitment from our investors, building on the ongoing support from Scottish Enterprise, speaks to the potential they see in our work, and we look forward to using the funding to further develop our technology."
Mercia Ventures and BGF led the Series A round to help the biotechnology firm commercialise its RNA sequencing technology.
"Genetic sequencing has come a long way since its inception in the 1970’s. The industry is now moving past short-read towards long-read sequencing, with long-read RNA sequencing being one of the most exciting new developments in biotechnology. We believe our solution could accelerate a new wave of biotechnology innovations. We are pleased to receive backing from some of the UK’s leading life science investors, which highlights its potential. The funding will help us to pursue our mission to reveal the unseen world of RNA and unlock exciting new applications."
The Edinburgh biotech uses the capital to scale its 3D bioprinted tumour models across the UK, Europe, and the US.
"Our vision is to be at the forefront of cancer drug testing and provide personalised medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to accelerate oncology drug development significantly."
