Proteomic-data science and diagnostics company Kinomica has secured £3.9 million in funding.
Growth capital investor BGF, and healthcare, science and engineering investor, Longwall Venture Partners have invested £1.5 million, each. Additional funding of £900,000 was secured via seed investors, including BioCity, Alderley Park Ventures, and Puffin Point, a family office in London.
Alderley Park, Cheshire-based Kinomica stated it will use the funding for technology that could help develop new drug treatments, notably KScan, a next-generation biomarker and molecular diagnostics platform, designed to aid the development of kinase inhibitor drugs for treating cancer patients and other conditions. It can be utilised at every stage of the drug development process; from generating novel drug targets, to investigating drug resistance and classifying patients for clinical trials. Kinomica has already secured commercial agreements with several blue-chip pharma companies including AstraZeneca.
The investment will be used to finance the rapid up-scale of operations, including facilities and equipment – to deliver a pipeline of projects. The organisation has plans to recruit a further 11 staff and two additional consultants by next June.
Jane Theaker, chief executive of Kinomica, said: “This marks a huge step forward for Kinomica and for KScan, as we look to the future of cancer treatment. Our pioneering technology offers much-needed support for the development of new precision medicines and represents a new approach to drug trials and treatments that will have a huge impact on patients’ lives.
“We are enormously grateful to our investors for their support as we look to a new era of research and development in the battle against cancer and other disease areas where an understanding of cell signalling is important.”
Rhys Davenport of BGF’s Northwest team, said: “Kinomica is a phenomenal example of early-stage life sciences innovation based in the Northwest. The business’ technology has the potential to provide insights to its pharma customer-base which help to identify drug targets, personalise treatments and develop diagnostics, that will transform patient outcomes. Led by CEO Jane Theaker, the business is at a stage in its journey where this injection of capital could unlock significant growth.”
Rebecca Todd, investment director at Longwall Ventures, added: “As a specialist investor in healthcare, science and engineering, we are proud to be backing Kinomica and delighted to welcome the company to our portfolio. We recognise the importance of the ground-breaking science behind the company and the potential of the KScan platform to improve cancer treatment, ultimately saving more lives. We look forward to supporting the company to realise its ambitions in the coming years of exciting development.”
Date published: December 14, 2020