Funding helps Lentitek develop cancer treatments
Cell and gene therapy company Lentitek has secured £250,000 in seed investment to further advance its technology and launch commercial trials.
The funding round in the Edinburgh-based company, launched in 2019 by Adam Inche to develop cancer treatment technology, was led by Gabriel Investments, an investment syndicate, which focuses on early stage Scottish companies.
Co-investors included Apollo Informal Investment, Scottish Enterprise and the University of Edinburgh.
Founder and director of Glasgow-based Gabriel-IS, Gill MacAulay, said the funding round represents its latest investment in a growing life-sciences portfolio with more than £2.1 million in innovative Scottish companies. This funding has leveraged a further £38m of follow on investment.
“We have invested in a number of Scottish companies who are addressing some of the largest challenges in human health, which Lentitek is clearly trying to achieve.” said Ms MacAulay.
Michiel Smith, gatekeeper at Edinburgh-based Apollo, added: “Apollo is proud to be part of the seed investment round in Lentitek… hopefully we will play a small part in increasing the survival rate for cancer patients.
Lentitek received significant recognition for its technology in 2022 by winning the top prize of £100,000 for Industrial Biotechnology Innovation from Scottish Edge.
Leif Anderson, co-founder of Lentitek, said: “The clinical potential of cell and gene base therapies has been well demonstrated. Indeed, many of those enrolled in clinical trials over the last decade would simply not be alive today without these remarkable treatments.
“Sadly, manufacturing and delivery challenges remain a significant barrier to adoption. With this investment, Lentitek will take an important step in addressing a number of critical issues to ensure these treatments are available to all who need them.”