Biggest award to UK company
TC BioPharm lands €4m EU funding deal
Scottish drugs development company TC BioPharm has secured the largest EU funding package awarded to a UK company for development of a healthcare therapeutic product.
The €4 million award from the European Union’s Horizon 2020 research and innovation programme will allow the Edinburgh-based company to further develop its cell therapy for the treatment of cancer.
Funding will come from the most competitive H2020 programme, where fewer than 4% of companies applying are selected. TCB was one of only 57 projects out of ,514 applications to secure support.
TCB’s first product treats malignant melanoma, kidney, and lung cancer and the funding will allow it to develop the next phase of treatments.
It is working with clinical centres of excellence to treat cancer patients in Glasgow, Edinburgh, Oxford, Southampton, London, Leeds, Cardiff, Manchester, Sheffield and Belfast.
The company has raised more than €25m in funding since launching operations in February 2014. Apart from its base at Pentlands Science Park is has premises at the Maxim offices near Glasgow and in London, and employs more than 50 staff. It was one of the earliest investments by the Investing Women business angels group.
Horizon 2020 has the political backing of Europe’s leaders and Members of the European Parliament. They agreed that research is an investment in the future and therefore put it at the heart of the EU’s blueprint for smart, sustainable and inclusive growth and jobs.
The goal is to ensure Europe produces world-class science, removes barriers to innovation and makes it easier for the public and private sectors to work together in delivering innovation.
TCB’s chief operating officer, Angela Scott, said the funding would allow the company to treat large numbers of cancer patients across the EU and in North America.
Chief executive, Dr Michael Leek, added: “With H2020 grant funding we remain steadfastly committed to working alongside our European clinical colleagues; we share a single goal of improving cancer patient health and quality of life across EU borders.”