The $95 million funding round was led by US-based ARCH Venture Partners and Woodford Investment Management with participation from Cambridge Enterprise, Evotec AG, GV (Google Ventures) and Lightstone Ventures, alongside CIC. This funding is one of the largest early stage investments in a European university spin-out.
With a highly experienced management team led by CEO, Dr Elaine Sullivan, a former Vice President for Research and Development at both Eli Lilly and AstraZeneca, Carrick intends to drive its portfolio of ground-breaking cancer therapies from laboratory to clinic.
Commenting on the announcement, Robert Tansley, Investment Director, Healthcare at Cambridge innovation Capital, said: “Carrick Therapeutics combines a world class management team with a strong and broad based approach to tackling the development of new cancer therapies. This is another CIC investment forged through our strong links with Cambridge Enterprise and the University of Cambridge and we look forward to working with the Carrick team as its development assets expand and progress."
“The establishment of Carrick, backed by such a high-quality syndicate of investors, underlines yet again the quality of science emanating from the Cambridge cluster.” Elaine Sullivan, CEO of Carrick Therapeutics, said: “This is an exciting new venture in cancer treatment, backed by some of the biggest investors in the field. Our aim is to build Europe’s leading oncology company. There is a significant unmet need in cancer treatment, and targeting aggressive and resistant disease is an area where we can make a real difference to patients’ lives.”