The oncology portfolio in numbers
Imperial Innovations Group's (SG:IVO) top 10 portfolio investments by value include three cancer-focused companies: PsiOxus Therapeutics, Cell Medica and Mission Therapeutics. Their collective carrying value of £53.8m represents 23.1% of the top 10 and 15% of total portfolio value at end January 2016. In the last 12 months, Innovations has led sizeable funding rounds in Kesios Therapeutics (£19m), Inivata (£31.5m), Mission Therapeutics (£60m), and Storm Therapeutics (£12m), committing c £30m of its own money. Innovations’ most recent disclosed carrying value of its oncology portfolio companies (end-January 2016 adjusted for subsequent fund-raises) was c 1.55x the cumulative cash invested; this is >1.65x for the three largest holdings. In addition to the seven oncology companies outlined in this report, Innovations recently announced involvement in an eighth, Artios Pharma. IVO committed £5.1m in a £25m Series A funding round of the Cambridge based private biotech who are focused on the development of novel DNA damage response cancer therapies.
Imperial Innovations’ diversified investment portfolio includes seven unquoted oncology-focused companies (excluding the recently announced Artios Pharma), which represent c 20% (c £72m) of total portfolio value. These companies (six in therapeutics, one in medtech) are focused on improving cancer care through the development of proprietary technology platforms, therapeutics and diagnostics. The size of recent funding rounds led by Innovations points to the increasing momentum in and maturity of this portfolio segment and, with several important milestones approaching in the near to mid-term, there is significant potential for value creation. This report profiles these seven companies, including their technology approach and upcoming catalysts.
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