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Incubator/Accelerator

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Investments

7

About UKI2S Innovate Accelerator

The UKI2S Innovate Accelerator combines the technology assessment and grant funding capabilities of Innovate UK with equity funding from UKI2S. It has been created to help companies accelerate their innovation, product development and intellectual property value faster than might be possible with equity investment alone.

UKI2S Innovate Accelerator Headquarter Location

Cavendish House 39-41 Waterloo Street

Birmingham, England, B2 5PP,

United Kingdom

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Latest UKI2S Innovate Accelerator News

Antiverse raises £1.4 million to advance its AI antibody drug discovery platform

Mar 15, 2021

15-03-2021 Antiverse, a biotechnology company developing a computational antibody drug discovery platform, has raised seed funding totalling £1.4 million ($2 million USD), comprising new investment and match funding from the UKI2S Innovate Accelerator. The funding will be used to further develop Antiverse’s AI antibody drug discovery platform, which rapidly and accurately predicts antibody-antigen binding to identify antibody drug candidates. Investors in the seed funding round include Development Bank of Wales, Angel Co-Investment Fund, Tensor Ventures, Wren Capital, Ed Parkinson, Cambridge Angels and SyndicateRoom. A portion of the capital raised will be used to build a laboratory in Cardiff, Wales, and expand the technical team through recruitment of specialist machine learning engineers, laboratory scientists and structural biologists. Antiverse, based in Cardiff, is combining machine learning and phage display techniques to model antibody-antigen interactions. The current version of the platform uses next generation sequencing and AI to provide diverse antibody candidates for any given target. The technology will enable the development of drugs for “difficult” targets associated with cancer, heart, and lung diseases. Murat Tunaboylu, Chief Executive Officer of Antiverse, said: “Our investors recognise the potential of our AI-powered antibody drug discovery platform to provide a breakthrough in the industry. With our technology, it will be possible to develop drugs for difficult targets and ultimately reduce drug discovery timescales from years to weeks. In addition to platform development, the funding will enable us to invest in facilities and recruitment; we are grateful to our investors and Innovate UK for their continued support.” Ed Parkinson, lead investor for the syndicate of Angel Investors, commented: “Antiverse has an ambitious team of AI experts and scientists with a vision to transform drug discovery. This is a great example of a world class business taking off in Wales with the support of the Development Bank of Wales.” Martin Drdul, founder & general partner of Tensor Ventures, said:"We are very excited and confident investing into Antiverse. The company has great ambitions and shows huge potential in the intersection of biology and AI.” Rafael Joseph, Development Bank of Wales, commented: “Together with our Wales Angel Co-Investment Fund, the Development Bank is helping more Welsh businesses to grow with equity funding; creating impact for the benefit of the Welsh economy. Our angel syndicates and networks are active across Wales and we are delighted to be supporting Antiverse on its journey with our seed investment. The Company really is at the cutting edge of using AI to augment and speed up the drug discovery process. Their work is transformational and it’s very exciting that it is happening here in Wales.”   Cambridge Angels is a leading UK business angel network with international connections. We are a collaborative Cambridge-based group, actively mentoring and investing in innovative entrepreneurial teams and their ideas, to achieve returns and help realise their full potential. We have a strong ethos of backing merit and supporting entrepreneurship. Our members, most of whom are successful entrepreneurs, invest in a wide range of start-up and scale-up businesses with a particular focus on technology, internet, software, hardware, and tools and technologies supporting healthcare. Cambridge Angels

UKI2S Innovate Accelerator Investments

7 Investments

UKI2S Innovate Accelerator has made 7 investments. Their latest investment was in Solasta Bio as part of their Seed VC on August 8, 2021.

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UKI2S Innovate Accelerator Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/16/2021

Seed VC

Solasta Bio

$1.8M

No

2

7/19/2021

Seed VC - II

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$99M

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10

3/15/2021

Seed VC

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$99M

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10

9/30/2020

Grant

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$99M

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10

9/30/2020

Seed VC

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$99M

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10

Date

8/16/2021

7/19/2021

3/15/2021

9/30/2020

9/30/2020

Round

Seed VC

Seed VC - II

Seed VC

Grant

Seed VC

Company

Solasta Bio

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Amount

$1.8M

$99M

$99M

$99M

$99M

New?

No

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Co-Investors

Sources

2

10

10

10

10

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