Start Codon, the life science and healthcare business accelerator based in the Milner Therapeutics Institute, today announced that it has closed Start Codon Fund I LP (the “Fund”) at £15 million. The Fund will be used to support Start Codon’s offering to start-ups, which includes a minimum of £250K seed funding, business support services, expert guidance, and access to office and lab facilities in the Institute. Limited Partner (“LP”) investors in the Fund include Novartis International AG and Cambridge Innovation Capital.
Dr Jason Mellad, Co-founder and CEO at Start Codon, said: “This venture fund is part of our strategy to provide our entrepreneurs with the funding they need for start-up costs, such as in-licencing of IP, recruitment, and proof of concept studies. In addition, we provide the opportunity to network and learn from the most successful industry leaders in our sector. With both Genentech and Novartis on board to support our cohort companies in their development, and potentially provide opportunities for commercial partnerships in the future, we are extremely well-positioned to nurture and commercialise the next generation of world-class healthcare companies, which we hope will positively impact many patient’s lives.”