Cambridge Innovation Capital today announces highlights from its half year results for the six months ended 30 September 2017.
Victor Christou, CEO of CIC, commented: “This has been another period of significant growth. We have continued to enhance our presence in the Cambridge Cluster and have taken steps to increase our operational activities to develop both the Cluster and our rapidly growing portfolio. The breadth of world-leading science being developed into exciting businesses around Cambridge continues at an increasing rate and we believe that CIC is better placed than ever to identify and support these businesses as they grow.
“Since the period end, we’ve seen further support from the UK Government through the Patient Capital Review, enabling greater scale-up capital for the businesses that the Cambridge area produces so well. We look forward to continuing this success into 2018.”
Investment highlights in the half year to 30 September 2017 include:
Bicycle Therapeutics: CIC was a key participant in Bicycle Therapeutics’ £40 million Series B funding round. Bicycle is pioneering first-in class therapeutics to treat cancer and other debilitating diseases based on its proprietary bicyclic peptides (Bicycles®) platform. Bicycle was founded by Sir Greg Winter, FRS, who is a member of CIC’s Advisory Panel and was a founder of Cambridge Antibody Technology (CAT).
Cambridge Medical Robotics (CMR): CIC increased its equity stake in CMR in a $26 million extension to the Series A funding round, which was supported by existing and new investors. CMR will use the funds to continue developing Versius®, its universal robotic system for minimal access surgery.
Prowler.io: CIC led a £10 million Series A round in Prowler.io, a company developing a world-leading artificially intelligent decision-making platform based on interpretable principles of mathematics and learning. The investment will allow Prowler.io to enhance its research capability and accelerate its technology into the market.