Scottish Enterprise

Scottish Enterprise, established in 1991, is Scotland's principal economic development agency, operating as a non-departmental public body of the Scottish Government. Its mission is to stimulate Scotland's economic growth by fostering an innovative, high-wage, and productive economy with a strong international presence. The agency partners with both public and private sectors to identify and capitalize on opportunities that drive significant, lasting economic impact. Scottish Enterprise provides comprehensive support to businesses, including helping companies secure appropriate finance, strengthening management teams, and facilitating growth and export initiatives. It works closely with Scottish SMEs, as well as UK and international investors, such as business angels, venture capital groups, and corporate investors. The agency operates across Scotland in collaboration with Highlands and Islands Enterprise, aiming to increase the supply of finance for businesses and support the SME funding market.

Reuben Aitken

Managing Director, International Operations

Rhona Allison

Managing Director, Business Growth

Victoria Carmichael

Commercial Director

Mark Hallan

Global Director, Strategic Relationships

Linda Hanna

Managing Director

Jane Martin

Managing Director of Innovation and Investment

Jim McFarlane

Managing Director of Operations

Kerry Sharp

Director of Entrepreneurship and Investment

Charlie Smith

Managing Director of Scottish Development International and Group Head of Strategy and Technology

Susan Armes

Senior Investment Manager

Past deals in Pharmaceuticals

Green Bioactives

Grant in 2025
Green Bioactives is a sustainable biomanufacturing company that uses plant cell culture technology to produce plant-derived biomolecules. By cultivating vascular stem cells, it creates rare botanical compounds with higher effectiveness, durability, and environmental benefits, providing industries with reliable, scalable, and eco-friendly sources of natural materials.

Kaly Group

Seed Round in 2024
Kaly Group is a company focused on seaweed farming, dedicated to providing nature-based solutions to significant environmental challenges. It operates its own farms to cultivate seaweed, producing biostimulants and other products derived from this sustainable resource. The company serves various industries, delivering cultivated seaweed for use in food, animal feed, and fertilizers. Furthermore, Kaly Group integrates its operations vertically, allowing clients to utilize bio-based feedstock as alternatives in the manufacturing of plastics, cosmetics, pharmaceuticals, and textiles. With a commitment to exploration and innovation, Kaly Group combines its diverse interests to address pressing ecological issues through sustainable practices.

Nebu-Flow

Venture Round in 2024
Nebu-Flow is a manufacturer focused on the development of advanced inhaled drugs aimed at patients with respiratory disorders. The company specializes in innovative pulmonary drug-delivery technology that allows for efficient administration of difficult-to-nebulize medications directly to the lungs. This includes existing formulations as well as emerging therapeutics such as biologics, nanomedicines, and vaccines. Nebu-Flow's technology is designed to control droplet size for optimal deep lung deposition, facilitating injection-free systemic drug delivery through inhalation. The company is dedicated to minimizing its environmental impact while ensuring the creation of a user-friendly and high-performing nebulizer for effective treatment of respiratory diseases.

Phlo

Venture Round in 2024
Phlo is a digital pharmacy based in London, England, established in January 2019 by Nadeem Sarwar. The company specializes in delivering NHS and private prescriptions directly to patients, focusing on both repeat and acute prescriptions. Phlo's platform allows users to create accounts, manage their medical records, receive prescriptions, and request medications online. By leveraging technology and analytics, Phlo aims to enhance the patient experience, offering real-time, on-demand delivery that saves time and eliminates the need for in-person visits to pharmacies. The service is designed to provide a safe and secure way for patients to access prescription and over-the-counter medications from the comfort of their homes.

Carcinotech

Seed Round in 2024
Carcinotech is a pioneering company in cancer research, specializing in the manufacturing of 3D-printed micro-tumors derived from patient biopsies, primary cells, immune cells, and cancer stem cells. The company aims to enhance the drug screening process and facilitate pre-clinical and personalized medicine testing, ultimately accelerating the delivery of more effective cancer treatments to market. By employing advanced techniques in tissue engineering, robotic manufacturing, and stringent quality control, Carcinotech produces highly predictive, assay-ready printed tumors that reflect the heterogeneity of individual cancers. This innovative approach provides clinicians with models of "clinical biopsy" quality, significantly improving the accuracy of cancer treatment assessments. Collaborating with global partners, including leading pharmaceutical companies and medical professionals, Carcinotech is committed to transforming oncology drug development and increasing the likelihood of successful outcomes for cancer patients.

Aurum Biosciences

Venture Round in 2024
Aurum Biosciences Ltd is a pharmaceutical company based in Glasgow, United Kingdom, focused on developing innovative treatments for various medical conditions with significant unmet needs. Founded in 2010, Aurum is advancing its lead product, ABL101, which is designed for acute ischemic stroke management. This product employs a unique oxygen-carrying technology that operates independently of hemoglobin, potentially extending the therapeutic window for stroke treatment. Additionally, Aurum is advancing a proprietary image analysis software that enhances MRI assessments of stroke patients' brains. The company is also exploring follow-on programs targeting heart disease, cancer, epilepsy, and dementia. Aurum Biosciences is currently completing preclinical development and has plans to initiate clinical studies to evaluate the efficacy and safety of its treatments.

Glox Therapeutics

Seed Round in 2023
Glox Therapeutics specializes in developing precision antibiotic therapies derived from naturally occurring bacteriocins. Their focus is on targeting and eliminating specific, hard-to-treat gram-negative bacterial pathogens that are resistant to traditional antibiotics. By preserving the patient's microbiome, their approach aims to minimize side effects and provide a more balanced treatment strategy, thereby advancing the field of antimicrobial therapy.

Bio-Images Drug Delivery

Venture Round in 2023
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

Merck

Grant in 2023
Merck is a German multinational chemical and pharmaceutical company founded in Darmstadt in 1668. It operates in three core segments: Life Science, supplying laboratory reagents, consumables and instruments; Electronics, providing specialty materials for semiconductor and display manufacturing; and Healthcare, developing and selling branded pharmaceuticals with notable focus in oncology, multiple sclerosis and fertility. The company serves customers worldwide across Europe, Africa, Asia, Oceania and Latin America. In the United States and Canada, the brand operates under a separate umbrella reflecting its historical separation from Merck & Co., which remains a separate entity outside Europe. Merck engages in global research, development, production and collaboration to bring new technologies and medicines to market.

Causeway Therapeutics

Venture Round in 2023
Causeway Therapeutics Ltd is a clinical-stage biopharmaceutical company based in Glasgow, United Kingdom, dedicated to developing novel microRNA therapies for musculoskeletal health. Founded in 2015, the company specializes in treating tendon injuries and disorders in both humans and horses. Its key products include EquiMiR, a treatment for equine tendinopathy that mimics natural microRNA with enhanced pharmacological properties, and TenoMiR, which restores critical microRNA levels to improve tendon strength and facilitate recovery. By targeting the molecular mechanisms underlying tendon damage and tendinopathy, Causeway Therapeutics aims to provide advanced therapeutic solutions that alleviate pain and promote faster healing for patients suffering from musculoskeletal diseases.

Phlo

Series A in 2023
Phlo is a digital pharmacy based in London, England, established in January 2019 by Nadeem Sarwar. The company specializes in delivering NHS and private prescriptions directly to patients, focusing on both repeat and acute prescriptions. Phlo's platform allows users to create accounts, manage their medical records, receive prescriptions, and request medications online. By leveraging technology and analytics, Phlo aims to enhance the patient experience, offering real-time, on-demand delivery that saves time and eliminates the need for in-person visits to pharmacies. The service is designed to provide a safe and secure way for patients to access prescription and over-the-counter medications from the comfort of their homes.

Green Bioactives

Seed Round in 2022
Green Bioactives is a sustainable biomanufacturing company that uses plant cell culture technology to produce plant-derived biomolecules. By cultivating vascular stem cells, it creates rare botanical compounds with higher effectiveness, durability, and environmental benefits, providing industries with reliable, scalable, and eco-friendly sources of natural materials.

Elasmogen

Venture Round in 2022
Elasmogen Ltd is a biopharmaceutical company based in Aberdeen, United Kingdom, founded in 2014. The company specializes in discovering and developing novel therapies for inflammatory eye diseases and other autoimmune conditions. Elasmogen's primary innovation lies in its proprietary soloMER technology, which consists of small, stable proteins derived from variable new-antigen receptors (VNARs) found in sharks. These next-generation therapeutics are designed to be significantly smaller and more robust than traditional antibodies while avoiding complex patent landscapes. Elasmogen's pipeline includes various candidates targeting autoimmune-mediated inflammatory diseases, such as ELN/21 and ELN/22, as well as soloMER-drug conjugates and NDure, which enhances the plasma half-life of therapeutic molecules. The company has established strategic partnerships with Almac Discovery Ltd and Merck Inc., and it possesses a comprehensive intellectual property portfolio that includes exclusive licenses for over 20 patents across multiple jurisdictions.

Carcinotech

Seed Round in 2022
Carcinotech is a pioneering company in cancer research, specializing in the manufacturing of 3D-printed micro-tumors derived from patient biopsies, primary cells, immune cells, and cancer stem cells. The company aims to enhance the drug screening process and facilitate pre-clinical and personalized medicine testing, ultimately accelerating the delivery of more effective cancer treatments to market. By employing advanced techniques in tissue engineering, robotic manufacturing, and stringent quality control, Carcinotech produces highly predictive, assay-ready printed tumors that reflect the heterogeneity of individual cancers. This innovative approach provides clinicians with models of "clinical biopsy" quality, significantly improving the accuracy of cancer treatment assessments. Collaborating with global partners, including leading pharmaceutical companies and medical professionals, Carcinotech is committed to transforming oncology drug development and increasing the likelihood of successful outcomes for cancer patients.

Kynos Therapeutics

Seed Round in 2022
Kynos Therapeutics is a biotechnology company focused on developing KMO inhibitors to address unmet medical needs in inflammation, immunity, and metabolism. By targeting the Kaiser-Meyer-Olkin (KMO) enzyme, the company aims to regulate systemic inflammation and tackle the underlying pathology of various medical conditions. Kynos Therapeutics is dedicated to providing innovative therapies that represent a new generation of potent KMO inhibitors, offering potential solutions in areas where current treatment options are limited.

Valneva

Grant in 2022
Valneva is a biopharmaceutical company specializing in the development, manufacturing, and distribution of prophylactic vaccines for infectious diseases. Its portfolio comprises two commercially available vaccines (IXIARO/JESPECT for Japanese encephalitis and DUKORAL for traveler's diarrhea), along with vaccine candidates targeting Lyme disease, chikungunya virus, and COVID-19. Valneva operates through segments including Commercialized Vaccines, Covid-19 Vaccine, Vaccine Candidates, and Technologies & Services. The company aims to address significant unmet medical needs in infectious diseases by leveraging its expertise and capabilities to advance vaccine candidates through clinical trials and ultimately commercialize them.

Talking Medicines

Venture Round in 2022
Talking Medicines Limited is a data technology company based in Glasgow, United Kingdom, that focuses on capturing and structuring the global voice of patients regarding launched medicines. The company offers Medsmart, an application that collects comprehensive data about medication adherence, including how, why, and what patients are taking. Its services include PatientMetRx®, a social intelligence platform that employs artificial intelligence and natural language processing to transform unstructured feedback from patients into actionable insights for pharmaceutical companies. This platform allows clients to utilize large language models to access curated patient and healthcare professional experiences, thereby enabling data-driven decision-making. Talking Medicines also provides a real-world persona data service with monthly updates, digital focus groups for surveys and questionnaires, and custom solutions tailored to specific pharmaceutical needs. Established in 2013 and rebranded in December 2015, the company serves the pharmaceutical and healthcare sectors, aiming to enhance marketing effectiveness and improve patient health outcomes through advanced patient insights.

Cytochroma

Grant in 2021
Cytochroma manufacture genetically diverse stem cell-derived models to predict the safety and effect of drugs in a global population. Cytochroma’s automated cell manufacture, physiologically relevant models and rapid screening platform makes preclinical testing faster, safer and smarter.

O-I Glass

Grant in 2021
O-I Glass, Inc. is the world's largest manufacturer of glass containers, specializing in products for the food and beverage industry. Founded in 1903 and headquartered in Perrysburg, Ohio, the company produces a diverse range of glass packaging for alcoholic beverages, including beer, wine, and spirits, as well as non-alcoholic drinks, food items, and pharmaceuticals. O-I Glass operates primarily in the Americas, Europe, and the Asia Pacific, with approximately 70% of its revenue generated from international markets. The company offers glass containers in various sizes, shapes, and colors, and markets its products directly to customers through long-term supply agreements and distributors. O-I Glass aims to maintain and expand its strong positions in key markets, including Europe, North America, and Brazil.

Bio-Images Drug Delivery

Venture Round in 2020
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

Aurum Biosciences

Funding Round in 2020
Aurum Biosciences Ltd is a pharmaceutical company based in Glasgow, United Kingdom, focused on developing innovative treatments for various medical conditions with significant unmet needs. Founded in 2010, Aurum is advancing its lead product, ABL101, which is designed for acute ischemic stroke management. This product employs a unique oxygen-carrying technology that operates independently of hemoglobin, potentially extending the therapeutic window for stroke treatment. Additionally, Aurum is advancing a proprietary image analysis software that enhances MRI assessments of stroke patients' brains. The company is also exploring follow-on programs targeting heart disease, cancer, epilepsy, and dementia. Aurum Biosciences is currently completing preclinical development and has plans to initiate clinical studies to evaluate the efficacy and safety of its treatments.

Asklepios BioPharmaceutical

Grant in 2020
Asklepios BioPharmaceutical is a biotechnology company focused on developing adeno-associated virus (AAV) gene therapies aimed at treating genetic disorders and rare diseases. Established in 2001 and headquartered in Research Triangle Park, North Carolina, the company possesses proprietary AAV technology and manufacturing capabilities, as well as a robust pipeline of clinical programs. Its pipeline includes clinical-stage therapies for Pompe disease and congestive heart failure, alongside a diverse array of preclinical candidates targeting neuromuscular and central nervous system diseases. Additionally, Asklepios has out-licensed clinical indications for hemophilia and Duchenne muscular dystrophy. The company’s gene therapy platform features Pro10, a proprietary cell line manufacturing process, complemented by an extensive library of AAV capsids and promoters, supporting advancements in genetic medicine through global research collaborations and innovative delivery methods.

Amphista Therapeutics

Series A in 2020
Founded in 2017, Amphista Therapeutics is a biopharmaceutical company based in Motherwell, UK. It specializes in developing first-in-class cancer therapeutics using targeted protein degradation technology to selectively remove disease-causing proteins.

Medannex

Series B in 2019
MedAnnex Limited is a biotechnology company based in Edinburgh, United Kingdom, that focuses on developing innovative treatments for patients with autoimmune diseases and cancers. Founded in 2009, the company is dedicated to creating first-in-class antibody therapies, particularly its lead product, annexuzlimab, a monoclonal antibody designed to target and inhibit annexin-A1. This approach aims to modulate both the innate and adaptive immune systems, thereby enhancing treatment options for healthcare providers and improving patient outcomes. Through its specialized research and development efforts, MedAnnex seeks to address significant unmet medical needs in the field of immunotherapy.

MGB Biopharma

Venture Round in 2019
MGB Biopharma is a UK-based biopharmaceutical company developing novel anti-infective medicines. It focuses on small molecules with specific antibacterial effects, targeting resistant bacteria using its proprietary DNA Minor Groove Binders technology.

M Squared Lasers

Grant in 2019
M Squared Lasers designs and manufactures lasers and photonic instruments for industrial and scientific applications, drawing on more than twenty years of experience and a track record of award winning products to deliver reliable, easy to use solutions that help solve problems and accelerate projects. The company focuses on photonics and quantum technology to harness the power of light, offering advanced tools and optical instruments for sectors such as manufacturing, oil and gas research, space technology and medicine. Through cross sector partnerships, M Squared Lasers supports breakthroughs in dementia research, cancer diagnosis and whiskey maturation.

Talking Medicines

Seed Round in 2019
Talking Medicines Limited is a data technology company based in Glasgow, United Kingdom, that focuses on capturing and structuring the global voice of patients regarding launched medicines. The company offers Medsmart, an application that collects comprehensive data about medication adherence, including how, why, and what patients are taking. Its services include PatientMetRx®, a social intelligence platform that employs artificial intelligence and natural language processing to transform unstructured feedback from patients into actionable insights for pharmaceutical companies. This platform allows clients to utilize large language models to access curated patient and healthcare professional experiences, thereby enabling data-driven decision-making. Talking Medicines also provides a real-world persona data service with monthly updates, digital focus groups for surveys and questionnaires, and custom solutions tailored to specific pharmaceutical needs. Established in 2013 and rebranded in December 2015, the company serves the pharmaceutical and healthcare sectors, aiming to enhance marketing effectiveness and improve patient health outcomes through advanced patient insights.

Bio-Images Drug Delivery

Venture Round in 2018
Bio-Images Drug Delivery Ltd, based in Glasgow, United Kingdom, specializes in drug formulation and delivery systems. The company offers a comprehensive range of services tailored to meet individual client needs, including troubleshooting, formulation development, and both in vitro and in vivo testing. Bio-Images is known for its patented time release technology, OralogiK, which provides precise control over drug release timing and location, allowing for the oral delivery of single, multi-dose, or combination drugs within a timeframe of one to twelve hours after ingestion. This technology supports various dosing strategies, such as nighttime administration and multi-phased delivery, which enhance therapeutic efficacy. Additionally, the company employs gamma scintigraphy to analyze the in vivo behavior of formulations, offering insights into disintegration timing, gastric emptying, and gastrointestinal transit. Bio-Images also features a clinical division that manages all aspects of clinical study processes, from protocol development and regulatory submissions to the production of compliant clinical study reports.

TC Biopharm

Venture Round in 2018
TC Biopharm Limited is a clinical development company based in Edinburgh, United Kingdom, that specializes in the development, manufacturing, and commercialization of innovative cell-based products aimed at treating cancer and severe viral infections. The company’s flagship product, ImmuniCell, is an autologous therapy that expands patient-derived cells in a cleanroom environment to create treatments for various tumor types and viral infections. TC Biopharm is advancing its pipeline through Phase II/III clinical studies, focusing on conditions such as renal cell carcinoma, non-small cell lung cancer, and melanoma. The company is committed to developing safer, more effective, and durable therapies, utilizing its proprietary allogeneic gamma delta T cell platform to harness the innate immune response against malignancies and infections. Through strategic partnerships and collaborations with organizations like Medinet and bluebird bio, TC Biopharm aims to enhance its capabilities and accelerate the delivery of its therapies to patients.

Mironid

Venture Round in 2018
Mironid Limited is a biotechnology company based in Newhouse, United Kingdom, that specializes in drug discovery and development. Founded in 2014, Mironid focuses on creating innovative drug candidate molecules that modulate key cell signaling proteins to address degenerative kidney diseases, chronic inflammatory diseases, and cancer. The company's pipeline includes unique compounds designed to treat these conditions, utilizing a Physiology Mirroring Approach that aligns drug target environments with those found in living cells. Mironid aims to identify and validate novel drug targets, particularly in areas with significant unmet medical needs, by leveraging advanced technologies to streamline and enhance the drug discovery process. Through its dedicated efforts, Mironid seeks to develop differentiated therapies that improve patient health and quality of life.

Causeway Therapeutics

Seed Round in 2017
Causeway Therapeutics Ltd is a clinical-stage biopharmaceutical company based in Glasgow, United Kingdom, dedicated to developing novel microRNA therapies for musculoskeletal health. Founded in 2015, the company specializes in treating tendon injuries and disorders in both humans and horses. Its key products include EquiMiR, a treatment for equine tendinopathy that mimics natural microRNA with enhanced pharmacological properties, and TenoMiR, which restores critical microRNA levels to improve tendon strength and facilitate recovery. By targeting the molecular mechanisms underlying tendon damage and tendinopathy, Causeway Therapeutics aims to provide advanced therapeutic solutions that alleviate pain and promote faster healing for patients suffering from musculoskeletal diseases.

Ryboquin

Venture Round in 2017
Ryboquin Ltd. is a virtual pharmaceutical company based in Selkirk, United Kingdom, focused on developing and commercializing oncology therapies. Incorporated in 2013, the company aims to transform under-developed intellectual property into effective treatments for cancer patients. Its primary product in the pipeline is ECP-102, a tumor apoptosis enhancer that aims to improve the efficacy of chemotherapy across various cancer types. Ryboquin utilizes advanced technologies, including nanotechnology, to optimize its gene therapies and enhance the overall effectiveness of cancer treatment, making them more accessible and affordable for patients and healthcare professionals worldwide.

Lamellar Biomedical

Series C in 2017
Lamellar Biomedical Ltd. is a biotechnology company based in Bellshill, United Kingdom, established in 2006. The company specializes in the development and commercialization of medical devices and pharmaceuticals centered around Lamellasomes, a synthetic substance that imitates the function of extra-alveolar lamellar bodies. Lamellar Biomedical's innovative products target various respiratory diseases, including cystic fibrosis, and conditions such as radiotherapy-induced xerostomia and dry eye disease. The company’s therapeutic platform leverages anti-infective properties to enhance antibiotic efficacy and protect lung tissues, particularly in complex cases like idiopathic pulmonary fibrosis. Additionally, it facilitates the intracellular delivery of genetic material for pulmonary disease treatment, aiming to provide transformative therapies for severe respiratory conditions. Lamellar Biomedical was previously known as Macrocom (964) Limited before adopting its current name in February 2007.

MGB Biopharma

Venture Round in 2017
MGB Biopharma is a UK-based biopharmaceutical company developing novel anti-infective medicines. It focuses on small molecules with specific antibacterial effects, targeting resistant bacteria using its proprietary DNA Minor Groove Binders technology.

Elasmogen

Seed Round in 2017
Elasmogen Ltd is a biopharmaceutical company based in Aberdeen, United Kingdom, founded in 2014. The company specializes in discovering and developing novel therapies for inflammatory eye diseases and other autoimmune conditions. Elasmogen's primary innovation lies in its proprietary soloMER technology, which consists of small, stable proteins derived from variable new-antigen receptors (VNARs) found in sharks. These next-generation therapeutics are designed to be significantly smaller and more robust than traditional antibodies while avoiding complex patent landscapes. Elasmogen's pipeline includes various candidates targeting autoimmune-mediated inflammatory diseases, such as ELN/21 and ELN/22, as well as soloMER-drug conjugates and NDure, which enhances the plasma half-life of therapeutic molecules. The company has established strategic partnerships with Almac Discovery Ltd and Merck Inc., and it possesses a comprehensive intellectual property portfolio that includes exclusive licenses for over 20 patents across multiple jurisdictions.

Elasmogen

Grant in 2017
Elasmogen Ltd is a biopharmaceutical company based in Aberdeen, United Kingdom, founded in 2014. The company specializes in discovering and developing novel therapies for inflammatory eye diseases and other autoimmune conditions. Elasmogen's primary innovation lies in its proprietary soloMER technology, which consists of small, stable proteins derived from variable new-antigen receptors (VNARs) found in sharks. These next-generation therapeutics are designed to be significantly smaller and more robust than traditional antibodies while avoiding complex patent landscapes. Elasmogen's pipeline includes various candidates targeting autoimmune-mediated inflammatory diseases, such as ELN/21 and ELN/22, as well as soloMER-drug conjugates and NDure, which enhances the plasma half-life of therapeutic molecules. The company has established strategic partnerships with Almac Discovery Ltd and Merck Inc., and it possesses a comprehensive intellectual property portfolio that includes exclusive licenses for over 20 patents across multiple jurisdictions.

TC Biopharm

Series A in 2017
TC Biopharm Limited is a clinical development company based in Edinburgh, United Kingdom, that specializes in the development, manufacturing, and commercialization of innovative cell-based products aimed at treating cancer and severe viral infections. The company’s flagship product, ImmuniCell, is an autologous therapy that expands patient-derived cells in a cleanroom environment to create treatments for various tumor types and viral infections. TC Biopharm is advancing its pipeline through Phase II/III clinical studies, focusing on conditions such as renal cell carcinoma, non-small cell lung cancer, and melanoma. The company is committed to developing safer, more effective, and durable therapies, utilizing its proprietary allogeneic gamma delta T cell platform to harness the innate immune response against malignancies and infections. Through strategic partnerships and collaborations with organizations like Medinet and bluebird bio, TC Biopharm aims to enhance its capabilities and accelerate the delivery of its therapies to patients.

Mironid

Series A in 2016
Mironid Limited is a biotechnology company based in Newhouse, United Kingdom, that specializes in drug discovery and development. Founded in 2014, Mironid focuses on creating innovative drug candidate molecules that modulate key cell signaling proteins to address degenerative kidney diseases, chronic inflammatory diseases, and cancer. The company's pipeline includes unique compounds designed to treat these conditions, utilizing a Physiology Mirroring Approach that aligns drug target environments with those found in living cells. Mironid aims to identify and validate novel drug targets, particularly in areas with significant unmet medical needs, by leveraging advanced technologies to streamline and enhance the drug discovery process. Through its dedicated efforts, Mironid seeks to develop differentiated therapies that improve patient health and quality of life.

Aurum Biosciences

Funding Round in 2015
Aurum Biosciences Ltd is a pharmaceutical company based in Glasgow, United Kingdom, focused on developing innovative treatments for various medical conditions with significant unmet needs. Founded in 2010, Aurum is advancing its lead product, ABL101, which is designed for acute ischemic stroke management. This product employs a unique oxygen-carrying technology that operates independently of hemoglobin, potentially extending the therapeutic window for stroke treatment. Additionally, Aurum is advancing a proprietary image analysis software that enhances MRI assessments of stroke patients' brains. The company is also exploring follow-on programs targeting heart disease, cancer, epilepsy, and dementia. Aurum Biosciences is currently completing preclinical development and has plans to initiate clinical studies to evaluate the efficacy and safety of its treatments.

Caldan Therapeutics

Series A in 2015
Caldan Therapeutics Ltd is a biotechnology company formed as a spinout from the University of Glasgow and the University of Southern Denmark. The company is focused on developing innovative therapeutics that target free fatty acid receptors, which play a significant role in the pathophysiology of metabolic diseases such as Type 2 Diabetes (T2D). The collaboration between Professors Graeme Milligan and Trond Ulven has led to the identification of these receptors as promising targets for addressing various aspects of T2D, including insulin secretion, sensitivity, and cellular protection. In addition to T2D, Caldan Therapeutics is exploring the potential of its technology to treat other conditions, including non-alcoholic steatohepatitis (NASH) and inflammatory diseases.

Taragenyx

Venture Round in 2015
Taragenyx Ltd. is an orthopedic biotechnology company based in Glasgow, United Kingdom, that specializes in developing innovative self-healing implant technologies to assist the body in its natural repair processes. Founded in 2010 and originally known as RRG Coatings Ltd., Taragenyx focuses on applications in spine, trauma, extremities, and biologics. The company is engaged in creating therapeutic implants featuring bio-passive, bio-active, and bio-regenerative coatings that incorporate active pharmaceuticals and biologics directly onto the implant surfaces. This technology enables localized release of compounds post-operatively, aiming to accelerate bone growth, enhance healing, and diminish the risks of infection and pain. Taragenyx’s products are designed to address and mitigate limb-threatening surgical complications, ultimately improving patient outcomes in orthopedic and dental procedures.

Clyde Biosciences

Series A in 2015
Clyde Biosciences is a developer of cardiac cell analysis solutions that provide human-relevant data to de-risk drug development. The company creates cell-based assays and analytics to reveal how drug compounds affect heart cells, enabling assessment of efficacy and potential cardiotoxicity in early research. Its offerings include cellOPTIQ, an optical action potential assay that measures drug effects on human cardiomyocytes, and XTENDSR, which quantifies drug-induced changes in cardiac sarcoplasmic reticulum function. By translating cellular responses into functional cardiomyocyte data, Clyde Biosciences supports pharmaceutical and biotechnology companies in identifying safety risks earlier and guiding molecule selection. Headquartered in Glasgow, United Kingdom, the company serves clients internationally and focuses on delivering human-relevant, mechanistic insights to improve the safety profile of new medicines.

UWI Technology

Angel Round in 2014
UWI Technology Limited is a developer and manufacturer of innovative labeling solutions headquartered in Edinburgh, United Kingdom. Founded in 2009, the company specializes in smart labels designed to enhance product safety and consumption. One of its key products, UWI Label, serves as an elapsed time indicator, allowing users to monitor how long a container has been opened and when it should no longer be used. These label solutions are applicable across various sectors, including pharmaceuticals, medical devices, aerospace, life sciences, cosmetics, veterinary products, and food and drink. By utilizing embedded chemical technology, UWI Technology aims to minimize the risks associated with using expired or ineffective products, thereby enhancing safety for consumers and businesses alike.

DestiNA Genomics

Seed Round in 2014
DestiNA Genomics Ltd. is a molecular diagnostic company based in Edinburgh, United Kingdom, and was incorporated in 2010 as a spin-out from the University of Edinburgh. The company specializes in a novel chemical-based system for the detection of nucleic acids and single nucleotide polymorphisms, distinguishing itself from existing enzymatic methods. DestiNA Genomics offers a range of reagents and probes for detecting nucleic acids and mutations, as well as probe sets and assays aimed at drug development and profiling. Its technology is particularly effective for direct detection of micro-RNAs and is being integrated into various detection platforms, including colorimetric, fluorescent, and electrochemical systems. Additionally, DestiNA has established a subsidiary in Spain, DestiNA Genomica SL, to exploit its technology in collaboration with local partners. The company is committed to advancing diagnostic capabilities in areas such as cancer biomarkers, inherited diseases, and infectious diseases.

MGB Biopharma

Series B in 2014
MGB Biopharma is a UK-based biopharmaceutical company developing novel anti-infective medicines. It focuses on small molecules with specific antibacterial effects, targeting resistant bacteria using its proprietary DNA Minor Groove Binders technology.

NuCana

Series B in 2014
NuCana plc is a UK-based, clinical-stage biopharmaceutical company dedicated to developing innovative cancer treatments. It specializes in transforming widely-used chemotherapy agents into more effective and safer medicines using its proprietary ProTide technology. NuCana's pipeline includes Acelarin, in Phase III trials for biliary tract and metastatic pancreatic cancers, and NUC-3373 & NUC-7738, in Phase I trials for advanced solid tumors. The company collaborates with academic institutions for research and licensing agreements. NuCana was established in 1997 and is headquartered in Edinburgh, with a focus on the U.S. market.

NuCana

Series B in 2014
NuCana plc is a UK-based, clinical-stage biopharmaceutical company dedicated to developing innovative cancer treatments. It specializes in transforming widely-used chemotherapy agents into more effective and safer medicines using its proprietary ProTide technology. NuCana's pipeline includes Acelarin, in Phase III trials for biliary tract and metastatic pancreatic cancers, and NUC-3373 & NUC-7738, in Phase I trials for advanced solid tumors. The company collaborates with academic institutions for research and licensing agreements. NuCana was established in 1997 and is headquartered in Edinburgh, with a focus on the U.S. market.

Elasmogen

Grant in 2014
Elasmogen Ltd is a biopharmaceutical company based in Aberdeen, United Kingdom, founded in 2014. The company specializes in discovering and developing novel therapies for inflammatory eye diseases and other autoimmune conditions. Elasmogen's primary innovation lies in its proprietary soloMER technology, which consists of small, stable proteins derived from variable new-antigen receptors (VNARs) found in sharks. These next-generation therapeutics are designed to be significantly smaller and more robust than traditional antibodies while avoiding complex patent landscapes. Elasmogen's pipeline includes various candidates targeting autoimmune-mediated inflammatory diseases, such as ELN/21 and ELN/22, as well as soloMER-drug conjugates and NDure, which enhances the plasma half-life of therapeutic molecules. The company has established strategic partnerships with Almac Discovery Ltd and Merck Inc., and it possesses a comprehensive intellectual property portfolio that includes exclusive licenses for over 20 patents across multiple jurisdictions.

Ubiquigent

Seed Round in 2013
Ubiquigent Limited is a biotechnology company based in Dundee, United Kingdom, founded in 2009. It specializes in the development and supply of high-quality reagents, kits, and drug discovery assay development services, focusing on the ubiquitin and ubiquitin-like signaling systems. The company provides protein degradation-focused drug discovery services and designs novel deubiquitylase (DUB) enzyme inhibitors as potential therapeutics for addressing unmet medical needs. Ubiquigent collaborates with both academic and pharmaceutical researchers, supporting fundamental scientific discovery and the exploration of innovative drug candidates targeting DUBs. Its hybrid business model emphasizes the generation of intellectual property while maintaining an internal pipeline of drug discovery programs aimed at optimizing compounds for critical therapeutic areas.

Taragenyx

Seed Round in 2013
Taragenyx Ltd. is an orthopedic biotechnology company based in Glasgow, United Kingdom, that specializes in developing innovative self-healing implant technologies to assist the body in its natural repair processes. Founded in 2010 and originally known as RRG Coatings Ltd., Taragenyx focuses on applications in spine, trauma, extremities, and biologics. The company is engaged in creating therapeutic implants featuring bio-passive, bio-active, and bio-regenerative coatings that incorporate active pharmaceuticals and biologics directly onto the implant surfaces. This technology enables localized release of compounds post-operatively, aiming to accelerate bone growth, enhance healing, and diminish the risks of infection and pain. Taragenyx’s products are designed to address and mitigate limb-threatening surgical complications, ultimately improving patient outcomes in orthopedic and dental procedures.

Viopti

Venture Round in 2013
Viopti was established in May 2009 to bring to market a range of innovative premium branded products for the contact lens user. The companies lead product is the contactspod, a unique disposable contact lens case that is pre filled with solution and provides the end user with a hygienic option for storing their contact lenses. The company has licensed the right to use the Polaroid brand across a range of products including eye drops and solutions. Polaroid is an iconic brand recognised and trusted globally. Viopti has been supported technically by IT partners Ote for solutions and regularity control and Wideblue for product development. Contactspod is the world's first, pre-filled, single use contact lens case. Hermetically sealed containing sterile multi-purpose solution, it is perfect when travelling and is ideal for spa's, beauty treatments & active sports. Contactspod is small, compact, convenient to carry around and easy to use. These are significant benefits for the traveller especially when flying, given today's baggage weight restrictions.

Lamellar Biomedical

Series A in 2013
Lamellar Biomedical Ltd. is a biotechnology company based in Bellshill, United Kingdom, established in 2006. The company specializes in the development and commercialization of medical devices and pharmaceuticals centered around Lamellasomes, a synthetic substance that imitates the function of extra-alveolar lamellar bodies. Lamellar Biomedical's innovative products target various respiratory diseases, including cystic fibrosis, and conditions such as radiotherapy-induced xerostomia and dry eye disease. The company’s therapeutic platform leverages anti-infective properties to enhance antibiotic efficacy and protect lung tissues, particularly in complex cases like idiopathic pulmonary fibrosis. Additionally, it facilitates the intracellular delivery of genetic material for pulmonary disease treatment, aiming to provide transformative therapies for severe respiratory conditions. Lamellar Biomedical was previously known as Macrocom (964) Limited before adopting its current name in February 2007.

UWI Technology

Venture Round in 2012
UWI Technology Limited is a developer and manufacturer of innovative labeling solutions headquartered in Edinburgh, United Kingdom. Founded in 2009, the company specializes in smart labels designed to enhance product safety and consumption. One of its key products, UWI Label, serves as an elapsed time indicator, allowing users to monitor how long a container has been opened and when it should no longer be used. These label solutions are applicable across various sectors, including pharmaceuticals, medical devices, aerospace, life sciences, cosmetics, veterinary products, and food and drink. By utilizing embedded chemical technology, UWI Technology aims to minimize the risks associated with using expired or ineffective products, thereby enhancing safety for consumers and businesses alike.

Viopti

Venture Round in 2012
Viopti was established in May 2009 to bring to market a range of innovative premium branded products for the contact lens user. The companies lead product is the contactspod, a unique disposable contact lens case that is pre filled with solution and provides the end user with a hygienic option for storing their contact lenses. The company has licensed the right to use the Polaroid brand across a range of products including eye drops and solutions. Polaroid is an iconic brand recognised and trusted globally. Viopti has been supported technically by IT partners Ote for solutions and regularity control and Wideblue for product development. Contactspod is the world's first, pre-filled, single use contact lens case. Hermetically sealed containing sterile multi-purpose solution, it is perfect when travelling and is ideal for spa's, beauty treatments & active sports. Contactspod is small, compact, convenient to carry around and easy to use. These are significant benefits for the traveller especially when flying, given today's baggage weight restrictions.

NuCana

Series A in 2011
NuCana plc is a UK-based, clinical-stage biopharmaceutical company dedicated to developing innovative cancer treatments. It specializes in transforming widely-used chemotherapy agents into more effective and safer medicines using its proprietary ProTide technology. NuCana's pipeline includes Acelarin, in Phase III trials for biliary tract and metastatic pancreatic cancers, and NUC-3373 & NUC-7738, in Phase I trials for advanced solid tumors. The company collaborates with academic institutions for research and licensing agreements. NuCana was established in 1997 and is headquartered in Edinburgh, with a focus on the U.S. market.

NuCana

Series A in 2011
NuCana plc is a UK-based, clinical-stage biopharmaceutical company dedicated to developing innovative cancer treatments. It specializes in transforming widely-used chemotherapy agents into more effective and safer medicines using its proprietary ProTide technology. NuCana's pipeline includes Acelarin, in Phase III trials for biliary tract and metastatic pancreatic cancers, and NUC-3373 & NUC-7738, in Phase I trials for advanced solid tumors. The company collaborates with academic institutions for research and licensing agreements. NuCana was established in 1997 and is headquartered in Edinburgh, with a focus on the U.S. market.

Ambicare Health

Venture Round in 2010
Ambicare Health Ltd specializes in the development of innovative wearable light sources for medical and consumer healthcare applications. The company offers a range of products, including Ambulight PDT, a light-emitting sticking plaster designed for the treatment of non-melanoma skin cancer, providing a non-surgical alternative through photodynamic therapy. Additionally, Ambicare Health features the Lustre Pure Light product line, which includes devices that deliver blue light therapy aimed at combating spots and acne. These clinically proven products are designed for convenience and are available through various distributors and online platforms. Founded in 2004 and based in Livingston, United Kingdom, the company was previously known as Lumicure Ltd before rebranding in 2009.

TPP Global Development

Series A in 2010
TPP is a UK-based preclinical-stage drug development company focused on nervous system disorders, immunology, and oncology. They in-license and develop intellectual properties obtained from research institutions, and the resultant products are either distributed via spin-outs or through licensing to the biotech/pharmaceutical sector.

MGB Biopharma

Series A in 2010
MGB Biopharma is a UK-based biopharmaceutical company developing novel anti-infective medicines. It focuses on small molecules with specific antibacterial effects, targeting resistant bacteria using its proprietary DNA Minor Groove Binders technology.

Syntropharma

Venture Round in 2009
Syntropharma Limited is an emerging pharmaceutical company based in Melrose, United Kingdom, founded in 2005. The company specializes in the development and distribution of pharmaceutical products, particularly focusing on skin patches that deliver proven medicines for various diseases, including neurological disorders such as Alzheimer's disease and depression. By reformulating commercially successful generic compounds into transdermal applications, Syntropharma aims to enhance their clinical profiles. The company is committed to creating a pipeline of innovative transdermal products protected by strong intellectual property, which it plans to out-license to pharmaceutical partners for broader market reach.

CXR Biosciences

Venture Round in 2008
CXR Biosciences Limited specializes in preclinical services focused on investigative and mechanistic toxicology, exploratory toxicology, and pharmacokinetics/toxicokinetics. The company evaluates hazards and risks associated with compounds, provides solutions for chemical design and candidate selection, and generates essential metabolic profiling data. CXR Biosciences employs advanced technologies, including in vivo and in vitro methods, genomics, microarrays, and mechanistic assays, to support its clients in ensuring compound safety and optimizing drug development processes. The company serves a diverse clientele, including pharmaceutical, agrochemical, industrial, and biotechnology sectors, along with academic institutions. Established in 2000 and based in Dundee, United Kingdom, CXR Biosciences has developed strong collaborations with over sixty customers and partners to enhance drug development and chemical safety assessment practices.

Aquapharm Biodiscovery

Series B in 2007
Aquapharm is an innovative drug discovery company focussed on developing new products founded on the chemical diversity of marine micro-organisms. Their core focus is the development of novel pharmaceutical compounds leading to the development of novel antibiotics, targeting both Gram negative and Gram positive infections. In addition, Aquapharm's development pipeline is also fed by an active discovery portfolio of anti-oxidants, anti-inflammatories and novel biocatalysts.

DC Biosciences

Seed Round in 2007
DC Biosciences Ltd is a biotechnology company based in Dundee, United Kingdom, focused on providing innovative proteomics services and molecular biology solutions to pharmaceutical and biotech firms. Established in 2006 and rebranded from Dundee Cell Products Ltd in 2016, the company specializes in quantitative proteomics technologies that facilitate various preclinical activities in drug discovery. Its offerings include stable isotope labeling with amino acids in cell culture reagents, such as SILAC cell culture media and dialyzed sera, alongside click chemistry reagents. These products support crucial processes such as biomarker discovery and validation, as well as drug re-profiling and repositioning, enabling faster and safer drug development.

Syntropharma

Series A in 2006
Syntropharma Limited is an emerging pharmaceutical company based in Melrose, United Kingdom, founded in 2005. The company specializes in the development and distribution of pharmaceutical products, particularly focusing on skin patches that deliver proven medicines for various diseases, including neurological disorders such as Alzheimer's disease and depression. By reformulating commercially successful generic compounds into transdermal applications, Syntropharma aims to enhance their clinical profiles. The company is committed to creating a pipeline of innovative transdermal products protected by strong intellectual property, which it plans to out-license to pharmaceutical partners for broader market reach.

Aquapharm Biodiscovery

Series B in 2005
Aquapharm is an innovative drug discovery company focussed on developing new products founded on the chemical diversity of marine micro-organisms. Their core focus is the development of novel pharmaceutical compounds leading to the development of novel antibiotics, targeting both Gram negative and Gram positive infections. In addition, Aquapharm's development pipeline is also fed by an active discovery portfolio of anti-oxidants, anti-inflammatories and novel biocatalysts.

NiTech Solutions

Seed Round in 2005
NiTech Solutions Ltd. is a company based in Edinburgh, United Kingdom, specializing in the design and provision of continuous oscillatory baffled reactors and tubular reactors. Founded in 2003, it focuses on enhancing processes in crystallization, biodiesel production, hydrogenation, polymerization, and the synthesis of pharmaceutical active ingredients. The company excels in mixing technologies applicable to liquid-liquid, liquid-solid, liquid-gas, and liquid-solid-gas processes across various sectors, including chemicals, pharmaceuticals, biotechnology, waste management, and food and beverages. By leveraging innovative baffled reactor technology, NiTech Solutions aims to facilitate the transition from batch to continuous processing, thereby improving operational efficiency, reducing costs, minimizing energy consumption, and enhancing product quality for its clients. The team comprises experts in process design, chemistry, chemical engineering, and reaction engineering, which allows the company to successfully deliver significant process improvements and develop innovative solutions tailored to client needs.
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