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5th February 2007
CAT52
Nottingham Evening Post
CATAPULT INVEST’S IN
LEADING EDGE OXFORD BIOTECH COMPANY
The face of medicine could change forever as a result of the work being undertaken by an Oxford-based biotechnology company. Now, Oxford Genome Sciences (UK) Ltd of Abingdon, has secured a significant investment from the newly launched Catapult Growth Fund to enable it to develop the business.
In addition to the £1.2m funding – the first ever investment by the Catapult Growth Fund launched in early January 2007 – the company has also secured £400k each from the South East Growth Fund (SEGF) and Oxford Capital Partners (OCP).
The Catapult Growth Fund’s geographical focus is primarily the Midlands, but can invest nationally; and has the remit to invest in growth orientated SMEs with a requirement for up to £2m of development capital or finance to facilitate a change of ownership (i.e. an MBO or an MBI).
Oxford Genome Sciences’ unique technology holds one of the world’s largest proprietary collections of genomic, proteomic and clinical information. This information is then used to aid the development of personalized medicines - tailoring drug treatments to an individuals biological profile - for cancer and Alzheimer’s disease. The most recognizable personalized medicine on the market today is Herceptin, the multi-billion breast cancer drug, which works very effectively but only for people with a certain type of breast cancer.
Dr. Christian Rohlff, CEO of Oxford Genome Sciences (UK) commented:
“I am very pleased to have completed this new round of fundraising which I see as a strong endorsement of the progress made to date, the strength of our team and our unique ability to integrate diagnostics and therapeutics. We are glad to welcome the additional expertise, which the Catapult team bring us with their strong track record in venture capital management, alongside the already excellent support provided by South East Growth Fund and Oxford Capital Partners.
“The additional funds provide us with financing visibility for the next three years and put us in very strong position to further advance our therapeutic and diagnostic programs in the fields of cancer and Alzheimer’s disease.”
Rupert Lyle, director of the Catapult Growth Fund commented: “commented: “This is a very exciting business led by a highly capable and well respected CEO. The remarkable research and development being undertaken by this company could have far reaching effects on both the medical profession and patients.
“Historically drugs have been very costly to develop and market. To make them affordable, the pharmaceutical industry has focused on the identification of blockbuster drugs for the masses.
“Personalised medicines, which have a significant impact on a small proportion of the population, have until recently been uneconomic to develop. However, we expect OGeS’s technology to bring an increased focus to the development of personalized medicines while at the same time making them more affordable. This in turn has the potential to save numerous lives as well as the health service vast sums of money!”
Commenting on the new Catapult Growth Fund, Rupert Lyle said: “We have the remit to invest in growth orientated SMEs with a requirement for up to £2m of development capital, or finance to facilitate a change of ownership (i.e. an MBO or an MBI).
“There are many excellent companies needing funding to enable them to develop their businesses to the next stage of development and I believe the Catapult Growth Fund fills a huge gap at the £1m to £2m equity investment level.”
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NB: NOTE TO EDITORS:
About Oxford Genome Sciences
Oxford Genome Sciences (OGeS) is focused on the development of personalized medicines, mainly for oncology indications. The company has developed a unique integrated platform that integrates genomic, proteomic and clinical information to accelerate the discovery and validation of drug targets and biomarkers in human beings.
The benefits are improved biomarkers for patient selection, drug response and efficacy monitoring, and the integration of diagnostics into drug development and product launch, thereby facilitating more accurate drug development and providing cost and time savings. OGeS’s strategy is to enter into flexible strategic alliances to capture maximum value from its unique and integrated platform for the development of new therapeutics and diagnostics in the field of cancer. In parallel, the company provides target and biomarker discovery and screening services to pharmaceutical and biotechnology companies providing OGeS with short-term revenues. OGeS was formed in 2004 and is based near Oxford, UK.
About South East Growth Fund
The South East Growth Fund is a £30m venture capital fund focussed on small and medium enterprises in the South East of England. The Fund can invest initial sums of up to £250,000 with follow-on investments enabling a normal maximum of £500,000 to be invested in companies at all stages of their development. The fund is able to consider investment in companies based in the counties of Berkshire, Buckinghamshire, East Sussex, Hampshire, the Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex.
The South East Growth Fund is managed by WM Enterprise* and its investors include Barclays Bank, Berkshire Pension Fund, Royal Bank of Scotland, GE Commercial Finance, the European Investment Fund, the DTI and WM Enterprise. WM Enterprise manages a number of regional funds including the Mercia Technology Seed Fund, The Baring English Growth Fund and North West Equity Fund.
The South East Growth Fund has so far invested over £15m in 38 separate companies and made its first investment in OGeS in 2004.
South East Growth Fund Contact – Jason Gould 01883 337111 / 07970021801
e-mail jasong@segrowthfund.co.uk, web www.segrowthfund.co.uk
*a trading name of West Midlands Enterprise Limited, authorised and regulated by the Financial Services Authority.
About Catapult Venture Managers
Established in 1999 – Catapult Venture Managers now has £80 million of funds under its management and is the largest investment team in the Midlands. The Nottingham office currently manages the £30 million East Midlands Regional Venture Fund, whilst the Birmingham office manages the £20 million Advantage Enterprise & Innovation Fund, jointly funded by Advantage West Midlands and the European Regional Development Fund.
The latest addition to the portfolio is the £30m Catapult Growth Fund, which was officially launched in early January 2007 and is designed to help innovative SMEs obtain the finance to help them grow. It can provide development capital of up to £2m, or finance to facilitate a change of ownership (i.e. an MBO or an MBI). Its geographical focus is primarily the Midlands, but can invest nationally.
The Catapult Growth Fund is backed by the DTI and East Midlands Local Authority Pension Funds for Nottingham, Leicestershire, Northamptonshire and Derbyshire. Contact details for Catapult are 0870 116 3000 (Birmingham), 0870 116 1600 (Nottingham). Catapult Venture Managers Ltd is Authorised and Regulated by the Financial Services Authority.
About Oxford Capital Partners
Oxford Capital Partners is a science and technology venture capital firm with extensive experience in investing in and supporting businesses with high growth potential. Oxford Capital Partners looks for the best opportunities, backing exceptional entrepreneurs and investing across all stages of development, from start-up to IPO. Leveraging its extensive networks, Oxford Capital Partners assists portfolio companies in accessing international markets in Europe, the US, Middle East and Asia. Oxford Capital Partners is the manager of four Oxford Gateway Funds and oversees a portfolio of over 25 companies in a range of technology sectors, including ICT, clean technologies, life and physical sciences.
With experience of investing in healthcare companies, Oxford Capital Partners is focused on opportunities in the fields of medical devices, medical instruments, diagnostics and services to pharma companies. Recent investments in the healthcare field include Sphere Medical, OrthoMimetics, G-Nostics and Veryan Medical.
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For further information please contact Rupert Lyle at Catapult Venture Managers on 0870 116 1600 or 07799 587568; or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 505322.
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For further information please contact Rupert Lyle at Catapult Venture Managers on 0870 116 1600 or 07799 587568; or Paul Shrimpton at PSPR Ltd on 0121 354 7311 or 07979 505322.
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