Press Release

Biotechnology Investment Forum bridges the bioclusters in Babraham and Boston, USA

21st November 2007

Three companies with global ambitions have won a transatlantic opportunity to pitch to the investment circuit in Boston, USA, after presenting their business plan at Babraham’s 4th Biotechnology Investment Forum. Asterion, ImmBio Therapeutics and ViraBiotech will take part in an organised funding roadshow in Boston next week to meet venture capitalists and other investors, members of the Global Entrepreneur Mentoring Programme and to present at The New England Venture Summit. 

Babraham’s pioneering investment forums provide new and early-stage biomedical companies, drawn from across the UK and delivering a diverse array of technologies, with an opportunity to pitch their propositions to a forum of VC and Business Angel investor groups with particular interest in biotechnology. The best three presenting companies win the opportunity to meet and network with investors, senior pharmaceutical executives and entrepreneurs in New England.

Babraham Bioscience Technologies (BBT) launched its inaugural Biotechnology Investment Forum (BIF) in February 2006. The second BIF in October 2006 offered a novel dimension - linking the entrepreneurial activities of biotech clusters at Babraham and in Boston through the Global Entrepreneurs Programme, UKTI. Organised by the Global Entrepreneur Programme’s Dealmaker, Toby Wilson Waterworth, this initiative has successfully brought British companies together with a broader spectrum of investors. Immune Targeting Systems, one of the three companies selected to travel to Boston last year, met cornerstone investor Novartis Ventures and two mentors from the Global Entrepreneurs Programme who joined their Board. This led to their subsequent M Series A funding success and a M grant.

David Hardman, CEO of BBT commented, “We look to the BIF to promote much needed investment in early stage bio-ventures; the sponsorship from the UKTI enabling companies to go on to Boston is an ideal extension of the BBT initiative.“

The three companies selected at the most recent BIF will attend and pitch their business concept to an audience of potential non-executives/advisors/mentors and angel/VC investors in Boston, USA next week. The Global Entrepreneurs Programme and UKTI are generously arranging the tour and supporting the three winners' attendance, which includes presentations at the conference, with investors, and the Consulate reception hosted for them at the Consulate-General’s Office.

Dr Raymond Barlow, CEO Asterion Ltd said, “Asterion is delighted to have been short listed to present at the New England Venture Summit. Asterion’s novel, IP-protected, third-generation therapeutic proteins (AFTTMdrugs) have superior profiles to existing marketed drugs and potentially address unmet needs in a global market of bn in value.  Being able to present the benefits of our technologies in the US is an important part of our funding and business strategy.”

Graham Clarke, CEO of ImmBio Therapeutics, commented, “We are fortunate in having an investor base which includes European fund managers for our break-through vaccines.  We are keen to now extend the technology, especially into therapeutics. The US plays such a major role in terms of market, companies and investors, that the opportunity to meet and present is unmissable for us.”

Professor Nigel Dimmock, Founder and Scientific Director of ViraBiotech, which has a ground breaking approach to the global treatment of influenza said, “ViraBiotech is delighted to have been given this opportunity to meet with venture capital companies in Boston and we are very grateful to UK TPI for their assistance in making this happen.“

 

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