Cumulus Oncology, based in Edinburgh, secures £9 million in seed funding. The Scottish National Investment Bank and Eos Advisory headed the round.
The funds will be utilised by the company to carry out growth strategies, diversify its holdings, and quicken the process of developing novel cancer treatments from discovery to clinical Proof of Concept.
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Under the leadership of its founder and CEO, Clare Wareing, Cumulus sources cutting-edge oncology resources from research facilities, for-profit drug discovery organisations, and biopharmaceutical businesses.
Members of the company’s scientific and commercial teams find new targets for drug discovery projects that it finances, supports, and works with on.
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Selected assets are spun out into newly formed firms once due diligence and market assessment efforts, deal terms talks, and thorough feasibility analysis of the investment case are completed. A crucial component of the business plan is the early emphasis on patient subgroups that have been molecularly selected.
The organisation uses platforms for machine learning (ML) and artificial intelligence (AI) in its decision-making process to prioritise goals and resources. It supports each spinout business to attain significant development milestones and value inflections by providing early-stage finance and oncology drug development expertise.
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For venture capitalists that specialise in the biotech industry, the businesses founded by Cumulus provide attractive investment prospects. When the spinout companies hit critical turning points, these VCs are crucial allies.
About Cumulus Oncology
Oncology is presently working on two cutting-edge drug discovery initiatives for cancer in the field of DNA damage response (DDR). It is planned to launch a second firm in early 2024; it is presently operating in stealth mode. Important data points that will serve as the foundation for at least one third of the new firm development in the upcoming 12 months are set to be revealed by further projects.
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