Welcome to the May edition of the CIC newsletter.
It has been a busy quarter for CIC. We were delighted to announce the acquisition of portfolio company, Inivata, by NeoGenomics, Inc. CIC invested in Inivata's seed round and has participated in their subsequent Series A, A+ and B rounds. This is an excellent example of CIC's model of investing early in the most innovative and disruptive life sciences and deep technology companies in the Cambridge ecosystem. We congratulate founder Dr Nitzan Rosenfeld from the CRUK – Cambridge Institute and all the Inivata team and are pleased that this acquisition will accelerate patients’ access to their world-leading liquid biopsy technology.
Following the adoption of our ESG policy last year, we held our first portfolio event to discuss best practices for assessing ESG risks and opportunities in company operations. We were delighted with the level of engagement in this event and will continue this initiative by facilitating the sharing of ESG best practices throughout our portfolio. We will also be publishing the first CIC impact report later this year to highlight the powerful ESG impact generated by the CIC portfolio.
Finally, I'd like to draw your attention to the academic entrepreneur event that CIC and Cambridge Enterprise are hosting on 29 September 2021. This will be a great opportunity to hear from successful academic entrepreneurs. Several portfolio CEOs will share their experience commercialising their research to create globally leading, impactful businesses.
Thank you for your continued support and engagement with CIC.
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Cambridge Innovation Capital announced the acquisition of portfolio company, Inivata. The acquisition follows a $25 million minority equity investment by NeoGenomics in Inivata in May 2020, at which time NeoGenomics secured a fixed price option to purchase the shares it did not own for $390 million. Read more
Cambridge Innovation Capital participated in Gyroscope Therapeutics’ £107.8 million ($148 million) Series C financing. Read more
Pragmatic received a £1.3 million contract from the UK Government Sustainable Innovation Fund to enable their ultra-low-cost RFID to enable rewarding recycling and packaging re-use. Read more
CMR Surgical: UK and India announce investment deals worth over £1 billion in key step towards free trade agreement. Read more
Storm Therapeutics published data in Nature showing its first-in-class inhibitor of METTL3 is effective as a new therapeutic strategy against AML. Read more
Sense Biodetection's series B fundraise was reported by The Telegraph 'Britons behind world's most accurate rapid Covid test raise $50 million'. Read more
In Conversation With is our video interview series, where CIC talks to a range of stakeholders and partners. Our new 'IP conversations' are summarised below. To view all please visit our News & Insights section
Fiona Law, Partner at Potter Clarkson, and David Lancaster, Partner at Pinsent Masons, discuss with Michael Anstey the importance of an IP strategy and how to effectively monetise an established portfolio of patents.
The UK CFIUS regime: what you need to know
Webinar: 8 June 2021, 16.00-17.00
The UK Government recently enacted the National Security and Investments Act, which is intended to give the government wide ranging powers to investigate deals on the grounds of national security.
Entrepreneurial pathways to impact: spinning-out your research
Event: 29 September 2021, 14.00-17.30, St. Catherine's College, Cambridge
Hosted by Cambridge Innovation Capital in partnership with Cambridge Enterprise, with Nobel Laureate Sir Greg Winter as our headline speaker. Register your interest here