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Exonate is funded through non-clinical development

In 2017 Exonate received £4.9m Seeding Drug Discovery award by the Wellcome Trust. The ophthalmology scientific programme is funded through to start clinical development programme in 2020.

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Wellcome Trust

Wellcome exists to improve health for everyone by helping great ideas to thrive. We’re a global charitable foundation, both politically and financially independent. We support scientists and researchers, take on big problems, fuel imaginations and spark debate.

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Angel Co Fund

The Angel CoFund is a £100M investment fund with objectives to back promising UK businesses and help develop the important business angel investment market. Launched in November 2011, the fund makes initial investments of between £100K and £1M, alongside syndicates of business angels in order to support high potential businesses and give them the capital they need to develop and propel growth.

The University of Nottingham

The University of Nottingham has a current portfolio of 22 active spin-out businesses, many of which have products or services in the market place. The University’s aim is to build strong investible companies with significant acquisition potential. Nottingham’s spin-out portfolio benefits from an alliance with Fusion IP, now part of the IP Group, the £40m Nottingham Investment Fund and the Nottingham Technology Fund, a £10m grant fund. In addition, The University has also established Nottingham Angels, a network of angel investors comprised of alumni and friends of the University. Nottingham spin-out companies also have access to incubation space at the University of Nottingham Innovation Park, BioCity and MediCity.

O2h ventures

O2h has a track record of nurturing and investing in emerging life science and tech companies, covering biotech, small molecule, biologics, digital health, software and social enterprise. O2h has developed an engine for seeding a pipeline of early stage life science assets through research collaborations, in-licencing, spin-outs and investment.


Uniseed is a venture fund operating at the Universities of Melbourne, Queensland, Sydney & New South Wales, and the CSIRO, with investment capital provided by the five partner research organisations. Uniseed’s mandate is to facilitate the commercialisation of research partner generated intellectual property by targeted investment in highly promising technologies. Uniseed’s existing investments cover a range of technology sectors. To date, Uniseed has exited six investments with four of these through trade sales; a neuropathic pain drug (Spinifex), a drug in development to treat fibrosis (Fibrotech), an IT security technology (Vintela) and a semi-conductor technology (Fultec) as well as one asset sale; a human headlice treatment (Hatchtech) and an IPO; a pain therapy (QRx Pharma). A number of companies have products on the market (Hydrexia, Progel, BT Imaging, Smart Sparrow) or are collaborating with leading global companies in the respective field.

Cambridge Angels

The Cambridge Angels are a group of high-net worth investors who have proven experience as successful entrepreneurs in internet, software, technology and bio-technology. Members invest in and mentor high quality start-up and early-stage companies in these sectors in the Cambridge (UK) area and throughout the UK. Typical funding requirements that the Cambridge Angels meet are in the range of £50,000 to £1,000,000 – Members have been responsible for a large number of the “Cambridge Phenomenon” success stories over recent years. Therefore, in addition to providing funding for early-stage companies, the Cambridge Angels also offer start-ups the considerable benefit of a wide range of expertise, contacts and directly relevant experience in establishing and growing entrepreneurial businesses successfully.


UoBEF invests in Bristol University spin-out opportunities as well as other early-stage companies supported by SETsquared Bristol. These companies will be focused on developing scientific innovations into commercial products and thereby may generate equity returns for the Fund. The Fund is managed by FCA-regulated Parkwalk Advisors. Parkwalk invests in innovative UK growth companies across various stages of their development. The Funds seek capital appreciation, with the added advantages to investors of the tax reliefs offered under the Enterprise Investment Scheme.


IP Group is a leading UK intellectual property commercialisation company, developing technology innovations primarily from its research intensive partner universities. The Group offers more than traditional venture capital, providing its companies with access to business building expertise, networks, recruitment and business support. IP Group’s portfolio comprises holdings in around 90 early stage to mature businesses across the Healthcare, Biotech, Cleantech and Technology sectors.

Wren Capital

Wren is an angel investor in science, engineering and software. We founded Wren in 2011 and have invested in 29 companies so far. Wren is well known in the early stage investment community and has co-invested with a wide range of both angel and institutional investors. We look for people with a deep understanding of their markets. The founders we invest in are smart and they get things done.


Corporate Angel Investment by Marshall of Cambridge Group Martlet provide patient capital to high-tech startups. We have extensive knowledge of entrepreneurial businesses, with great connections. Our ability is to build and lead angel syndicates and we will provide follow-on capital, when appropriate.