London, Friday 10 July 2015 – Professor Sir Christopher Evans, chairman of Arthurian Life Sciences Ltd, said today that it is ‘pivotal’ that Wales continues to aggressively develop its life sciences sector following the ‘hugely encouraging’ fundraising for ReNeuron Group plc.
ReNeuron Group plc, a leading UK-based clinical-stage cell therapy company, today announced that it had raised £68.4million ($100m) through a conditional placing with new and existing investors in the UK, which marks a significant step towards improving the therapeutic programmes on offer.Read more
Arthurian were the first of the original investors in ReNeuron Group plc, committing a further £5million to help lead the latest and significant investment round of £68.4million. Other existing investors – Woodford, Aviva and Abingworth – also committed substantial amounts to the fundraise. Several new institutional investors from the UK and USA also joined in this landmark fundraise for the company.
Sir Chris Evans said: “The ReNeuron fundraising has been very successful and hugely encouraging, not just for the Company but for life sciences in Wales as well.
“Wales has made some very significant strides in developing its life sciences sector through the establishment of the Wales Life Sciences Fund and it is pivotal that Wales continues to keep aggressively pursuing these opportunities.
“This is a momentous achievement for ReNeuron – this fundraise underpins one of the world’s most exciting novel stem-cell therapeutic portfolios. These new funds will be used to further progress ReNeuron’s CTX therapies in trials for Stroke and Critical Limb Ischaemia, to initiate new trials with the unique hRPC stem cell formulations for Retinal Blindness and to rapidly progress the Company’s new breakthrough platform technology in Exosome Nanomedicines for Cancer and other future applications.
“It is a hugely significant development for the future of cell-based therapies across the globe. The future looks bright and very exciting for this world leading stem-cell company and I’m delighted to have been associated with it from the very beginning.”
Sir Chris’ Arthurian Welsh Life Sciences Fund has shot up in value, going from strength to strength in under 15 months from a standing start as significant product announcements are made and new investments are sealed in an ever expanding pipeline of very exciting biotech and healthcare businesses.
The Fund is about to conclude two more investments in July, establishing a portfolio of 10 companies valued over £600million and having attracted in excess of £250million new co- investment in under 15 months. The Fund is running at a 48% IRR and the Team are evaluating several future transactions from a deal flow pool in excess of 450 new life sciences businesses from around the world.
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About Arthurian Life Sciences
Arthurian Life Sciences Ltd was specifically established by Europe’s leading biotech entrepreneur Professor Sir Chris Evans OBE to apply to provide management services to the Wales Life Sciences Investment Fund. Arthurian boasts a vastly experienced, internationally renowned Board of Directors and investment team comprised of individuals from the public and private Life Sciences sector and from the world of international fund management, business, commerce and government. The Arthurian team currently manages, advises and consults to billions of pounds of assets in private equity and traditional investments.