Discovery Park Ventures expands fund to £3m to invest in more innovative science and technology start-ups
Sandwich, Kent, UK, 4th December 2023 / Sciad Newswire / Discovery Park Ventures (DPV) announces the expansion of its early-stage life science fund from £1m to £3m, in order to capitalise on exciting investment opportunities and support its existing portfolio. The fund’s investors have committed an additional £2m, which will also enable the fund to take larger stakes in companies that strongly align with its strategic objectives.
DPV was formed in 2022 by Discovery Park to invest in promising, fast-growing life-science companies with close links to the innovation ecosystem at Discovery Park. The first £1m tranche of DPV is now fully invested. Recent investments include Optceutics Ltd, an ophthalmology drug development company that uses its pharmacokinetic model, PK-Eye™, to accelerate the development of ocular formulations. Two others will be announced shortly. DPV is also invested in Vitarka Therapeutics, VisusNano, Booby Biome, Neobe Therapeutics, Ignota Labs and Oxford Medical Products.
The first transactions from the second tranche of the fund have been follow-on funding rounds into two existing portfolio companies, one of which is Ignota Labs (focused on preventing safety failures in drug discovery with Explainable AI). New investments are also being reviewed. Discovery Park Ventures will be presenting some of its portfolio at Giant Health’s ‘Healthcare Investment Show’ in partnership with Discovery Park in London tomorrow (December 5th 2023).
Mayer Schreiber, Chair of Discovery Park Ventures and CEO of Discovery Park, commented: “Our portfolio of investments is making strong progress, and we are delighted by the support our investors have shown us with this second tranche of funding. It is the first step in Discovery Park Ventures’ planned expansion, and we look forward to working with regional investment groups and other funds as we grow.”
DPV has plans to further expand the fund up to £25m in the next three years with a focus on companies developing novel and disruptive technologies that have strong collaborative relationships with Discovery Park.
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Notes for Editors
Discovery Park Ventures (DPV) is an early-stage life sciences investment fund launched by Discovery Park to invest in novel and disruptive technology related to Discovery Park’s areas of focus. Established in 2022 with £1m of private investment, DPV expanded to £3m in 2023, with plans to expand to up to £25m. Investee companies have strong collaborative relationships with Discovery Park or may be a tenant. These companies include Vitarka Therapeutics, VisusNano, Booby Biome, Neobe Therapeutics, Ignota Labs, Oxford Medical Products and Optceutics.
About Discovery Park
Discovery Park is a thriving life science community for visionary entrepreneurs and leaders and the ideal environment for businesses to start, scale and succeed. We offer state-of-the-art labs, modern offices and manufacturing facilities, unrivalled flexibility and comprehensive support including access to finance and a strong local talent pool. Within easy reach of London, Discovery Park spearheads Kent’s flourishing science and technology cluster. As an extension of the Golden Triangle, our location provides access to a wealth of resources and opportunities coupled with an enviable quality of life.
Discovery Park has been a major centre for life science for nearly 70 years and is home to 160+ companies across a growing tenant community of dynamic start-ups through to global corporations. This includes Algaecytes, Canterbury Christ Church University, Concept Life Sciences, eXroid, Genea Biomedx, LGC, Pfizer, Psyros Diagnostics, Salvensis, Viatris, VisusNano and Wren Healthcare.
Discovery Park is a thriving life science park and community for visionary entrepreneurs and leaders and the ideal environment for businesses to start, scale and succeed.
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