NEMESIS BIOSCIENCE RAISES £300K
Nemesis Bioscience has raised £300,000 in seed funding from a consortium of angel investors and from Finance Wales.
The Cambridge-based company plans to use the funding to extend the application of its proprietary biological therapeutics – Nemesis Symbioticsa – which suppresses antibiotic resistance.
The business has also opened a new therapeutic development facility in the Medicentre located at the University Hospital of Wales, Cardiff. Nemesis Bioscience will retain a research laboratory on the Babraham Research Campus, Cambridge.
The company was founded in March 2014 to address the global threat posed by increasing bacterial resistance to commonly used antibiotics. Nemesis will commercialise inventions to make existing antibiotics effective once more by not only overcoming resistant bacterial infections but also by preventing them in susceptible patients.
Chief executive Dr Frank Massam said: “The early support we have received for our ideas and technologies from our angel investors and from Finance Wales has been very encouraging. We are delighted that this will allow us to maintain the very rapid momentum we have achieved in a short time.
“In particular the opening of a new facility in Wales will allow us to take advantage of the world-class talent pool, academic excellence and active life science community in the Cardiff area. We are now beginning conversations to fund the next stage of the company’s preclinical development plans.”
Dr Melanie Goward, deputy fund manager at Finance Wales, added: “Nemesis Bioscience has developed an innovative therapeutic approach to treating and preventing antibiotic resistance and we’re delighted that our investment from the Wales Technology Seed Fund has attracted the company to Wales.
“Nemesis will now complete the development and commercialisation of its products at its new facility in Cardiff’s Medicentre.”