Nemesis Bioscience Ltd has raised £300,000 in seed funding from Angel investors and from Finance Wales to extend the application of its proprietary biological therapeutics – Nemesis Symbiotics that inactivate antibiotic resistance.
They have also opened a new therapeutic development facility in the Medicentre located at the University Hospital of Wales, Cardiff. The company will retain a research laboratory on the Babraham Research Campus, Cambridge.
Nemesis Bioscience was founded in March 2014 to address the global threat posed by increasing bacterial resistance to commonly used antibiotics. Nemesis will commercialise inventions to make existing antibiotics effective once more by not only overcoming resistant bacterial infections but also by preventing them in susceptible patients. The company won the 2014 King’s College, Cambridge Entrepreneurship Award
The CEO of Nemesis, Dr Frank Massam commented, “The early support we have received for our ideas and technologies from our Angel investors and from Finance Wales has been very encouraging. We are delighted that this will allow us to maintain the very rapid momentum we have achieved in a short time. In particular the opening of a new facility in Wales will allow us to take advantage of the world-class talent pool, academic excellence and active life science community in the Cardiff area. We are now beginning conversations to fund the next stage of the company’s preclinical development plans.”
Dr Melanie Goward, Deputy Fund Manager at Finance Wales who led the funding round said: “Nemesis Bioscience has developed an innovative therapeutic approach to treating and preventing antibiotic resistance and we’re delighted that our investment from the Wales Technology Seed Fund has attracted the company to Wales. Nemesis will now complete the development and commercialisation of its products at its new facility in Cardiff’s Medicentre.”
ABOUT FINANCE WALES
Finance Wales was established by the Welsh Government in 2001 and provides commercial funding to small and medium-sized businesses throughout Wales to enable them to realise their potential for innovation and growth. The company is part of the Finance Wales Group and in 2014-15 the Group invested £66.5 million through 295 debt-equity investments in growing businesses. The Finance Wales Group, one of the UK’s largest SME investors, has in excess of £400 million of funds under management. The Group has invested over £392 million through more than 3,590 investments and leveraged over £558 million of private sector investment.