New deal will boost life-science sector
Eos Advisory, the Fife-based investment firm, is targeting early-stage Scottish life sciences businesses after striking a new partnership with a US specialist.
The tie-up with Kineticos Life Sciences will lead to some £10 million being invested over the next five years in oncology-focused life sciences ventures founded in Scotland.
Headquartered in Raleigh, North Carolina, Kineticos has a biotech advisory practice and a related fund, the Kineticos Disruptor Fund, to invest in the advancement and commercialisation of clinical research.
As part of the deal, Eos will engage with scottish enterprise and a range of other private and public investors to leverage its co-investments.
Specifically, the partnership will seek out Scottish investment opportunities that address large, unmet medical needs in oncology,neurosciences and rare diseases, new approaches to gene and cell therapies, and precision medicine technologies.
Kevin Grainger, founder and chairman ofeos advisory, said: “This strategic transatlantic partnership between Eos and Kineticos will help find and fund breakthrough ideas from Scotland’s brightest life science entrepreneurs.
“In addition to the £10m Eos and Kineticos have committed, we will leverage additional equity capital from private, institutional and public sources to maximise the impact of these nascent oncology businesses.
“This funding, along with the commercial expertise of the Eos and Kineticos teams, will accelerate high skill research and development (R&D) job creation in Scotland and subsequent commercial opportunities in the US which we hope will have a significant impact on improving the early diagnosis and treatment of cancer globally.”
Shailesh Maingi, founder and chairman of Kineticos, said: “The Kineticos Disruptor Fund’ s mission is simple: to find cures for difficult to treat cancers and rare diseases.
“The fund invests in cutting edge technology such as cell and gene therapy (CGT), emanating from the world’s leading research scientists and universities. Scotland presents a unique opportunity with its rich history in life sciences innovation and entrepreneurialculture. with our partnership with the excellent Eos team, we hope to build upon the success of scotland’ s ecosystem and createa new path for collaboration between leading scientists in Scotland and the united states .”
Mar kb am forth, an investor in the Kineticos Disruptor Fund, added: “As a Scot, I am delighted to support this partnership which will help to fund and mentor Scottish companies to support their development and global growth.”
Founded in 2014, Eos has a portfolio of 13 investee companies, including Cumulus Oncology, ILC Therapeutics, and Clinspec DX. Last month, the St Andrews-based firm announced that a former senior Astrazeneca executive had come on board in a move described as a “milestone event”. Chris Brinsmead – a council member at Imperial College London and a former adviser to the UK government on life sciences – has joined Eos as a partner.