It’s been an eventful 24 months since we formally set up a dedicated health team, so we wanted to share this update on our progress:
- We are now the most active health investor in the UK.*
- Since joining forces with TenX, we have dramatically broadened our capabilities as a team and increased the scope of our investments. We now have a team of 10 investors and PhDs – including Joe Stringer (ex Head of Google Health UK) and Dr Pooja Sikka (EY Ventures and practicing GP) – only looking at health companies.
- We made a concerted effort to build our capabilities and network within biotech based on the scientific backgrounds of many of the team.
- We’ve invested in three new biotech companies in the last 12 months alongside some of the best biotech investors in the world.
- 70 of the most reputable health investors in the world met with our portfolio companies at an event we held in April 2021. This resulted in at least one term sheet and tens of valuable conversations.
- We completed research in a number of areas, driving thesis-led, high-conviction investments including the future of cannabinoids, neurotech and synthetic biology.
- US expansion and fundraising continues to be a large theme within the health portfolio with one in four of our health companies being head-quartered in the US, 50% of our portfolio having a material presence and 65% having US customers.
- We continue to invest across all stages but with a bias towards the earliest stages (Seed and Series A).
- A number of phenomenal portfolio milestones have been reached in the last 12 months including a plethora of FDA and CE approvals, Elvie’s $75m Series C, QuitGenius’ $64m Series B, Medisafe’s $30m Series C and Antidote’s $14m Series C.
The last 12 months:
Going forward we are doubling down on four broad areas of interest where we believe the most valuable health businesses will be built:
1. Demystifying the complexity of brain health to deliver novel solutions for mental wellbeing, health and neurodegeneration.
Leveraging bioelectronics and neural interfaces to deliver the next wave of device therapeutics
Harnessing cannabinoids, psychedelics, and experiential treatments to develop novel therapeutic platforms
2. Enabling data-led, hyper-personalised medicine to deliver the right treatment
to the right patient, fuelled by ‘omics advances and patient stratification.
Leveraging quantum computational chemistry and quantum machine learning to improve the speed and efficacy of drug design
3. Understanding and programming biology to develop novel therapeutic platforms & applications in agriculture, aquaculture,
Harnessing advances in stem cell and genetic engineering to enable affordable cultivated meats and materials
4. Promoting longevity, vitality and a life free of taboos.
Democratising advances in embryology research and reproductive medicine to deliver fertility solutions at scale
*UK VC-backed Health League Table, 21/07/20 – 21/07/21 – New deals only
We want to build on our achievements so far by partnering with the leading health angels, investors, executives, experts and entrepreneurs, so please do get in contact.