Absynth Biologics received the cash from Alderley Park Ventures, the £5m investment fund created in late 2014 and managed by BioCity, to invest in life science companies based at BioHub on the Alderley Park site in Cheshire.
The Absynth Biologics team with Dr Fiona Marston, centre
A bio firm, which discovers and develops vaccines to prevent bacterial infections, has received a £250,000 funding boost.
Absynth Biologics received the investment from Alderley Park Ventures, the £5m investment fund created in late 2014 and managed by BioCity, to invest in life science companies based at BioHub on the Alderley Park site in Cheshire.
Absynth Biologics, a University of Sheffield spinout firm, was founded in 2007 and has established a vaccine pipeline with two main programmes, which includes tackling staph infection and MRSA.
As a “cornerstone” tenant at BioHub, Absynth Biologics is the second company to receive funding from APV, following the £200,000 investment into Alderley Analytical in August.
Absynth Biologics will use the latest round of investment to develop further R&D while supporting its existing research.
The firm previously secured £850,000 investment from The North West Fund (TNWF) for Biomedical and university commercialisation firm, Fusion IP.
Claire Brown, investment manager at Alderley Park Ventures, said: “Alderley Park Ventures is delighted to be a part of this interim round of fundraising alongside existing investors Fusion IP and SPARK Ventures.
“We chose to invest in Absynth because we were impressed by the team’s focus and the data demonstrating an impact on downstream immune response markers in addition to an antibody response.”
Fiona Marston, CEO of Absynth Biologics, said “I am delighted to have the support of our new investor Alderley Park Ventures and the on-going support of our existing shareholders Fusion IP and SPARK Impact; manager of The North West Fund for Biomedical.
“This investment positions Absynth well to progress its R&D, while completing its series A investment to advance the S. aureus vaccine programme into the clinic”
Over the next 12 months, Absynth Biologics is looking to raise up to £5m to develop its vaccine for the staph infection.