Avlar funds new firm as catalyst for Babraham life science start ups
Babraham BioConcepts Ltd has been launched to form and fund new early-stage life sciences companies associated with the Babraham Research Campus with £1m investment from Avlar BioVentures Fund II LLP.
BioConcepts has acquired a 10-year pipeline agreement with the Babraham Institute giving it the right to form companies around intellectual property created at the Institute.
In addition, BioConcepts receives shareholdings in several early-stage life sciences companies: Actinomics, CTM Biotech, Innova Biosciences, MultiProSys and Probe Scientific) that are associated with or were set up on the Babraham Research Campus.
BioConcepts said in a press statement that it will work closely with entrepreneurs and scientists to create and nurture emerging companies from world-class science and technology deriving mainly from the Babraham Institute or locating to the Babraham Research Campus. It will provide seed and early round funding, inject specific expertise and provide access to facilities that will enable companies to 'get off the ground'.
Unique offering
It said it was a unique offering designed to lower the barriers to the formation of high quality early-stage companies. Companies coming through BioConcepts will have free access to fully equipped laboratory facilities enabling them to conduct crucial proof-of-concept experimental work before attempting to raise substantial venture capital finance.
BioConcepts is funded by Avlar BioVentures - a leading UK-based exponent of early-stage bioscience investment. Avlar operates an active management style working with management to build companies.
The Babraham Institute was founded in 1948 and is now a world-leader in cell signalling and developmental genetics. Around 330 staff work at the Institute which received £19m grant and other income in 2005.
The Babraham Research Campus, at the heart of the Cambridge Cluster of high tech companies, has become a powerhouse of biocommerce. There are 29 bioscience firms located on the Campus, employing around 200 staff.
The Campus has long been associated with successful bioventures, most notably Chiroscience and Cambridge Antibody Technology and more recently Arakis, started life and developed at Babraham before moving to larger, dedicated premises.
5th September 2006
