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| News Room |
2008
2007
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MTSF Seals Investment into nanoTherics (May 2008)
The Mercia Technology Seed Fund (MTSF) has just completed an initial investment in nanoTherics Ltd . This scientific medical devices company was founded following cutting edge biomedical research conducted at Keele University and the University of Florida. It will use the funds to complete its product offering which already benefits from early sales traction.
nanoTherics’s primary business is the supply of scientific devices and associated products to research laboratories, both in the pharmaceutical and biotechnology industries and academia. Early sales demonstrate a strong market appetite for the solution presented by the patented technology which uses nanoparticles and magnetic fields to facilitate delivery of important molecules, such as DNA, into living cells . The medium to long-term opportunity for this approach relates to non-viral gene therapy, an area now demanding safe technology to treat genetic diseases such as cystic fibrosis.
As part of the investment package, Dr Linda Cammish has been appointed as advisor to the management team playing to her key strengths in product development and commercialisation within the device industry. Linda’s previous experience includes holding senior commercial positions at Millipore, Perseptive Biosystems, Applied Biosystems and Abcam plc. In association with this appointment, Dr Mark Payton (Fund Principal, MTSF) will join the nanoTherics Board.
Dr Mark Payton, commented “nanoTherics is a compelling example of a new wave of commercial opportunities emerging from the university sector where by working closely with our partner universities, such as Keele University, we are able to accelerate the commercial development of key disruptive technologies.”
Dr Neil Farrow, COO of nanoTherics, added “ We are delighted to be working alongside MTSF, a fund highly experienced in growing early stage technology companies such as nanoTherics. The experience they bring will be invaluable in enabling us to progress our novel gene transfection systems to full commercialisation .”
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Second Closing for MTSF (April 2008)
The Mercia Technology Seed Fund, has just completed its second closing with Keele University investing in the fund. The fund now benefits from investment from eight of the region’s universities, the others being the Universities of Aston, Birmingham, Birmingham City, Coventry, Staffordshire, Warwick and Wolverhampton.
Since its launch in March 2007, the fund has made investments into 7 technology businesses based in the West Midlands. The fund targets a commercial return and benefits from a highly complementary and unique mix of private and public sector investors including regional development agency, Advantage West Midlands. The fund has already successfully positioned itself as the primary source of institutional investment at seed stage in the West Midlands.
Mark Payton (Fund Principal) said: “The Mercia Technology Seed Fund has a mix of private and public fund investors with a common goal of growing a strong portfolio of technology-based high growth businesses in the West Midlands. We are delighted that Keele University has invested in the fund, bringing together the commercial aspirations of an unprecedented group of high-research universities. The fund will play an active role in the investments it makes. The fund is managed by a team of four investment executives with a strong technology background and direct experience in the management of high growth technology businesses.”
Martyn Booth, Chief Executive of WM Enterprise, added: “WM Enterprise is thrilled that Keele University has decided to join the investors in what is one of the largest funds of its type in the country. The fund will provide early stage technology companies with much needed finance to help commercialise the technology emerging from the wealth of talent in the region’s universities, businesses and research institutions”.
Dr Peter Hooper, Head of Research & Enterprise Services said, “I am delighted that Keele is now part of the Mercia Technology Seed Fund that offers an important source of early stage finance in the region and demonstrates the strengths of University enterprise collaboration within the West Midlands.”
Dr David Carson Head of IP & Innovation added, “With Keele’s strong IP portfolio, the Mercia Technology Seed Fund will be instrumental in our future commercialisation plans.”
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MTSF Announces Follow-on Investment into Opscape (February 2008)
The Mercia Technology Seed Fund has just completed a further investment into Opscape, a spinout company from the University of Warwick.
Opscape is developing data visualization software that enables managers to spot patterns and anomalies in large volumes of complex, rapidly changing data. Its unique representation allows users to see how key performance indicators change over time and highlights which elements need priority attention.
Dr Mark Bowman, Investment Manager at the Mercia Technology Seed Fund and portfolio manager for Opscape commented, “we are delighted that we have been able to continue our support for Opscape and also that John Morley, a 30 year industry veteran, has joined Opscape’s board. Opscape continues to build out its management team and has launched a new version of its software based on extensive customer feedback.”
John Morley commented, “ Opscape’s truly innovative software establishes a new paradigm for presenting complex operational information. I am delighted to join the company’s board and assist the management team in developing the company.” |
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Download the Latest MTSF Newsletter (January 2008)
Click HERE to download a pdf of the latest Mercia Technology Seed Fund Newsletter.
To download Adobe Reader, click on the following icon: 
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MTSF Announces Follow-on Investment into AdvanceSis Ltd (January 2008)
The Mercia Technology Seed Fund, has announced the completion of a multi-million pound follow-on investment into its portfolio company AdvanceSis Ltd.
AdvanceSis was formed to commercialise advances in semiconductor materials fabrication, building on many man-years experience in epitaxial growth and characterisation of silicon and silicon germanium.
This Seven Spires investment will allow AdvanceSis to continue building value in its target markets and will also fund the development of an exciting new application for the rapidly growing solar energy industry.
Dr Robin Godfrey, CEO of AdvanceSis, commented “We are delighted to receive this substantial funding from Seven Spires, to enable us to address significant market opportunities in the Cleantech sector, through expansions of our core team and external partnerships, building on our previous technology developments.”
Dr Mark Bowman, Investment Manager for the Mercia Technology Seed Fund and portfolio manager for AdvanceSis, commented “This is a very exciting development for AdvanceSis. The Seven Spires investment provides a very stable financial platform from which the company can continue to build on its growing product portfolio.” |
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MTSF Seals Investment into Celentyx (December 2007)
The The Mercia Technology Seed Fund (MTSF), has just completed an initial investment in Celentyx Ltd , a pharmaceutical research and development company based at the Birmingham Research Park. Celentyx will use the funds to extend its work in the development of novel therapies for diseases of the human immune system. As part of the investment package, Dr Mark Payton of MTSF will join the Celentyx Board.
Celentyx was officially launched in March 2007 to commercially develop world-leading research from the University of Birmingham’s Medical School. The company uses a novel technology developed by the founders, called NCIP™ (Novel Clinical Identification Profiling™), to assess the suitability of existing drugs in the treatment of new illnesses. This proprietary process uses clinically relevant human tissue and human cells to identify potential drugs.
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Inaugural MTSF Seminar and Networking Event Held (November 2007)
On 7th November, The Mercia Technology Seed Fund held its inaugural seminar and networking event. Delivered by Mills and Reeves at their Birmingham office on Colmore Row, the event discussed and examined the role and responsibilities of directors. Over 30 invitees attended the seminar, with representatives from Mercia Technology Seed Fund portfolio companies, key individuals from universities and tech transfer offices and from other business support and financial organisations in the West Midlands.
The event is the first of several planned over the coming year, with the aim of bringing companies together to glean expertise on how to manage and run successful businesses and for like-minded business leaders to share experiences and explore opportunities to work together.
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Anaxsys Investment Announced (November 2007)
The Mercia Technology Seed Fund has just completed an early stage investment into Anaxsys Technology Ltd as part of a £1.6m syndication with SEGF and AEIF. Anaxsys is a medical device company with a portfolio of distinct products under development for a variety of indications to include the monitoring and diagnosis of asthma, COPD and sleep apnoea. Each product incorporates proprietary electrochemical sensing technology, with applications across numerous medical and non-medical markets.
Mark Payton, Fund principal for the Mercia Technology Seed Fund, commented “We are pleased to be a significant part of this substantial syndicate investment resulting in the relocation of Anaxsys to Keele University Science and Business Park. Anaxsys is typical of the type of investment we seek; it has a compelling product portfolio, an innovative platform technology, an experienced management team and an extensive patent estate, all of which are geared towards significant global market opportunities.”
Dr Williams, CEO of Anaxsys, commented on how the investment will help: “We have already demonstrated the viability of our core technology through clinical trials and now we are gearing manufacturing processes towards full production for our lead asthma diagnostic product. The new investment will allow the company to develop both its technical and commercial strategy, prepare for market and move into the further development of its portfolio of product opportunities.”
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Further Investment into Warwick Effect Polymers (October 2007)
The Mercia Technology Seed Fund has led an investment into Warwick Effect Polymers Limited (“WEP”), a private speciality and biopolymer company based on the University of Warwick Science Park.
WEP is an innovative polymer synthesis company that is developing a series of speciality polymers for a wide range of industrial applications and has an exciting approach to the development of 2 nd generation pegylation technologies that have the potential to increase the activity and improve the safety profile of key medical therapeutics on the market and new medicaments under development.
Dr Mark Payton, Fund Principal for the Mercia Technology Seed Fund, commented:
“We are pleased to have led this round in which all existing investors have followed their interests. We are confident that this investment, alongside Dr Palmer joining WEP as Executive Chairman, will create the tremendous growth and value we anticipate based on WEP’s strategy in becoming a world leader in second generation pegylation technology and living radical polymerisation.” |
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Opscape Investment Announced (September 2007)
The Mercia Technology Seed Fund has just completed an investment into Opscape, a spinout company from the University of Warwick.
Opscape is developing data visualisation software that enables managers to spot patterns and anomalies in large volumes of complex, rapidly changing data. Its unique representation allows users to see how key performance indicators change over time and highlights which elements need priority attention.
Mark Bowman, Investment Manager at the Mercia Technology Seed Fund, commented, “Opscape is making rapid progress in the development of its core technology and has already secured sales through a partnership with a major UK retailer seeking to dramatically improve its data analysis capability. I look forward to working with the management team to assist the development of this business over the coming months.” |
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Mercia Technology Seed Fund Invests in Scyron (August 2007)
The Mercia Technology Seed Fund has just completed an investment into Scyron, a security and surveillance services company. The Mercia Technology Seed Fund, a leading provider of venture capital to early stage technology in the West Midlands, invested alongside Datasat and management. Datasat is a leading global satellite communication company.
Scyron research and development, based at University of Birmingham Research Park, has worldwide patents for its creation of a new category of intelligent surveillance, based around capturing and analysing specific “incidents.” As an example, the company’s technology can trigger CCTV cameras to record only specific events such as a vehicle going through a security barrier while ignoring people on foot or a person entering a doorway while ignoring passers by. This is in contrast to blanket surveillance techniques which lack precise targeting .
Mark Payton, Fund Principal for the Mercia Technology Seed Fund, commented, “Scyron is now making significant sales traction utilizing its compelling, intelligent-surveillance solution into the commercial as well as the public security sectors. We are delighted to invest alongside Datasat - and see them as more than a corporate investor but rather a partner providing immediate and significant growth opportunities to Scyron.” |
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MTSF Invests in Warwick Audio Technologies (July 2007)
The Mercia Technology Seed Fund (MTSF) have committed to an investment of £200 000 into Warwick Audio Technologies Limited, a spin out company from the University of Warwick. The company has developed an innovative mid-range loudspeaker that is ultra-thin, lightweight, flexible, and inexpensive to manufacture.
At less than 0.5mm thick it is thinner than any other flat panel loudspeaker currently available, and can be made in any shape or size, from a few millimeters to several meters. The loudspeaker works on electrostatic principles, and unlike the ‘flat panel’ loudspeakers currently available, it operates without the need for external excitation devices.
Tim Hazell, Senior Investment Manager at the MTSF commented: “This investment illustrates the funding available in the region for those early stage companies which have exciting new technologies with the potential to make significant market impact.” |
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First Investment by Mercia Technology Seed Fund (March 2007)
The Mercia Technology Seed Fund, has just completed its first investment. This is into Intelligent Orthopaedics, a pioneering company in the field of medical engineering that spun out from a collaboration between Staffordshire University, Keele University and the University Hospital of North Staffordshire.
Nearly a quarter of a million pounds of syndicate funding was invested into Intelligent Orthopaedics from the Mercia Technology Seed Fund, SMIF and private investors. The company received this second stage funding after the initial worldwide success of its unique medical device, the ‘Staffordshire Orthopaedic Reduction Machine’ (STORM), with the new funding being used to finance new product development.
For the full press release (pdf) click HERE »
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Mercia Technology Fund Officially Launches (March 2007)
The Mercia Technology Seed Fund, a £12.8 million fund which will invest in young technology based ventures in the West Midlands region, was officially launched today at an event held at Villa Park.
The launch event, sponsored by Advantage West Midlands, BRDL and WM Enterprise, brought together regional entrepreneurs, leading individuals from the West Midlands universities and the regional business community.
The fund will typically invest in companies with high growth prospects that have a robust and developed product, based on patent protected technology. There will be a clear and demonstrable market plan and commercial interest in the technology under development. The fund will typically invest between £50k and £250k, with the potential to invest up to £750k.
The fund benefits from a unique mix of private and public sector investors. At the fund’s first close, investors include Advantage West Midlands, Forward Group, regional universities (Aston University, University of Birmingham, University of Central England, Coventry University, Staffordshire University, University of Warwick and the University of Wolverhampton), University of Warwick Science Park and WM Enterprise. A second closing is targeting further investment of up to £2m.
For the full press release (pdf) click HERE »
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