Biopharma Serentis raises £10.3m in series A funding
Serentis Ltd, the Cambridge Science Park-based biopharma, completed a £10.3m Series A financing round.
The investment was jointly led by Life Science venture funds, MVM Life Science Partners LLP, Apposite Capital LLP and Novo A/S.
Established in 2006, Serentis, which has expertise in product discovery and development, will use the funds to progress its lead products into clinical-stage proof-of-principle trials and to expand its development pipeline. Pipeline products will be identified via Serentis' internal discovery activities and by licensing near-clinical stage assets and technologies.
CEO and Serentis co-founder Tim Sharpington: "The funds raised will … enable the company to further build its management team and to develop both its internal programs and licensing activities and thereby rapidly build a robust clinical-stage pipeline".
Dr Martin Murphy, Chairman and Partner at MVM Life Science said: "The management team at Serentis have an impressive track record of innovating and developing low-risk development compounds which can be rapidly progressed to proof-of-principle studies."
Serentis Inc is privately owned and incorporated in Delaware. Its operating arm, Serentis Ltd, based in Cambridge, is developing a pipeline of products initially focussed in the areas of wound care/dermatology and cancer supportive care with additional research programmes in fibrotic disease and diabetic complications.
The company intends to use its core development skills by licensing near-clinical stage products and technologies. Its development model is based on a fast to proof-of-principle approach.
Dr Martin Murphy (MVM Life Science Partners LLP), Dr Allan Marchington (Apposite Capital LLP) and Dr Martin Edwards (Novo A/S) have joined the board of Serentis.
4th July 2007
