When Belfast-based CV6 Therapeutics (NI) Limited (CV6) announced it secured $9.2 million in funding to advance its primary oncology asset into a first-in-human Phase 1a clinical trial last November, it marked a significant milestone for the company. The funding brings CV6 founder, Dr. Robert Ladner one step closer to realizing his vision for helping cancer patients around the world.
Ladner began his CV6 journey as professor at the University of Southern California’s Norris Comprehensive Cancer Center. At USC, Ladner’s research uncovered a potential way to block the uncontrolled growth and abnormal cellular behavior of cancer cells. To develop and commercialize this discovery, Ladner left his university position and launched his own company, CV6 Therapeutics.
Though Ladner initially established CV6 in California, the biochemist-turned-entrepreneur convinced his research team to move to a more capital-efficient environment where research flourishes – Northern Ireland. In 2015, CV6 was re-established on the campus of Queen’s University, Belfast.
As the company begins its Phase 1a clinical trial of the therapeutic CV6-168 with human patients, it continues to attract new investments. Support from investors such as QUBIS, Techstart and Clarendon, as well as the region’s economic development agency Invest Northern Ireland, have enabled the trial. But CV6 is not the only Queen’s University spin-out drawing VC attention.
Also in November, Sonrai Analytics, a global precision medicine innovator in AI data analytics - focused on identifying, validating and productizing novel biomarkers, diagnostics, and clinical algorithms with life-saving potential, announced an investment from New York-based global health tech venture firm Eckuity.
The discovery of new biomarkers has become increasingly difficult, where more sensitive detection methods generate data outputs in increasingly large volumes. The Sonrai platform applies AI and deep learning to unlock critical information contained in big data – enabling biotech and pharma organizations to collaborate, filter and transform datasets in real time.
Sonrai is also leading the way for precision medicine companies by integrating imaging and biomedical omic data using AI to maximize the potential of discovering and analyzing diverse biomarkers across various modalities.Eckuity’s investment followed a £2.2m seed funding round for Sonrai earlier in 2022. That round was led by Forward Partners, Techstart Ventures, Co-Fund NI (managed by Clarendon Fund Managers), QUBIS, and other angel investors.
The Northern Ireland Advantage
Northern Ireland presents a true value proposition for precision medicine companies active in research and development. The region’s universities, companies, regulatory authorities and healthcare systems are highly connected and collaborate intimately in a way that doesn’t happen in larger countries or less integrated areas of a similar size. Companies operating in Northern Ireland can get support through all aspects of the development cycle, from discovery through preclinical and clinical research, to commercial manufacturing and life cycle management.
The two largest academic institutions in Northern Ireland – Queen’s University and Ulster University have 17 world-leading research centers collectively and rank among the top 10 in the United Kingdom (UK) for bioscience research. Working hand in glove with industry and government, Northern Ireland’s universities have a long track record of spinning out companies and helping them achieve their commercial aspirations.
Built on the foundations of indigenous companies such as AlmacGroup, Randox and Norbrook, TEVA and Terumo were some of the first global companies to maximize the potential of this unique ecosystem. Today over 250 businesses, international investors and indigenous companies comprise Northern Ireland’s life & health sciences sector, which employs 18,000 people and exports to over 140 countries.
Future-proofing Northern Ireland’s Life & Health Sciences Ecosystem
Northern Ireland is committed to remaining a location of choice for life and health sciences companies. Over £1 billion will be invested through city and growth deals across the region in innovation projects focused on advanced health technology, clinical trials, data analytics and medical devices. Some of these new investments include:
The Institute for Research Excellence in Advanced Clinical Healthcare (iREACH). A collaboration between academia, industry, government and the National Health Service (NHS), iReach will create a unique ecosystem for testing new drugs through their development life cycle and integration into care pathways. iREACH will strengthen the Belfast region’s capability for clinical trials and increase capacity to take on larger and more complex trial studies.
Personalized Medicine Center (PMC). PMC will provide world-class capabilities in data analytics, biomarker discovery and MedTech development. PMC will also have the capacity to perform robust clinical trials and offer business support to commercialize and implement new diagnostic tests, drugs and technologies.
The Center for Digital Healthcare Technology (CDHT). The CDHT will serve as a resource for digital technology and associated living labs in the areas of cardiology, diabetes, respiratory and stroke. CDHT will provide the forum for academia, industry and clinicians to come together to lead on research focused on many of the world’s key health challenges, including rising healthcare costs and healthy aging.
These are just a few of the new investments. To learn more about the opportunities that await your company in Northern Ireland, visit www.investni.com/americas and contact one of our business development directors.
The editorial staff had no role in this post's creation.