Region:Yorkshire & Humber
Programme:Northern Powerhouse Investment Fund
LUNAC Therapeutics (LUNAC), a UK-based drug discovery company focused on the development of advanced life-saving anticoagulants, raised £4.75 million in an additional financing round.
The funding has come from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund, the government’s Future Fund, and existing investors including Caribou Property and Epidarex Capital. The funds will be used to advance pre-clinical and manufacturing development programmes and prepare for clinical studies.
Dr. Mervyn Turner, Chair of LUNAC Therapeutics, commented: “LUNAC has demonstrated exceptional progress working closely with our world-leading academic founders and CRO partners. This new funding, alongside follow-on investment from our existing investor, demonstrates the clear medical need and value of our programme. LUNAC is in an excellent position to move our programme forward into preclinical development and prepare for the first clinical studies. We thank Caribou and Epidarex for their ongoing support and welcome Mercia as a new investor.”
Mark Wyatt, Investment Director with Mercia, commented: “LUNAC is a great example of the world-leading academic research base that exists within the Yorkshire region that is attracting significant specialist investment. We are pleased to be able to support the business alongside others at this time, and are excited to see its novel therapeutic programme continue to make progress.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Enterprise Ventures Limited is authorised and regulated by the Financial Conduct Authority (FRN: 183363). EV Business Loans Limited is authorised and regulated by the Financial Conduct Authority (FRN: 443560).
If you would like to meet with one of NPIF's appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area