New venture to invest £10m in cancer research
- Published
A Scottish investment firm has teamed up with a US-based life sciences specialist to find cures for difficult-to-treat cancers and rare diseases.
St Andrews-based Eos Advisory has entered into a strategic partnership with Kineticos to co-invest in early-stage Scottish life sciences companies.
They aim to invest more than £10m over five years in "oncology-focused" firms.
They will also seek capital from public, private and institutional sources.
The partnership plans to address "large, unmet medical needs" in oncology, neurosciences and rare diseases, new approaches to gene and cell therapies, and precision medicine technologies.
Headquartered in North Carolina, Kineticos has a biotech advisory practice and a fund to invest in the advancement and commercialisation of clinical research.
'Breakthrough ideas'
As part of the deal, Eos will engage with Scottish Enterprise and other private and public investors to support its co-investments.
Eos founder and chairman Kevin Grainger said: "This strategic transatlantic partnership between Eos and Kineticos will help find and fund breakthrough ideas from Scotland's brightest life science entrepreneurs.
"This funding, along with the commercial expertise of the Eos and Kineticos teams, will accelerate high-skill 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."