A brand new £50m venture capital fund launches today with a plan to invest in the UK's flourishing life sciences sector.
NCL Technology Ventures' fund, which is backed by Kent County Council, will invest in high-growth small and medium-sized enterprises (SMEs) with a focus on game-changing medical technologies and advanced therapeutics.
“Britain is an innovation nation; supporting and growing the UK life sciences sector is vital if we want to thrive after Brexit," said Jonathan Synett, investment director at NCL.
The Kent Life Science Fund, NCL's second, aims to attract companies looking to establish a UK operating base as part of global expansion plans.
The group's first Discovery Park Fund invested £5m into eight small UK-based firms which now have operations at NCL's pharmaceutical facility at Discovery Park, Kent, a 1.4m square foot complex. New firms brought in by the fund will be given space to work at the complex.
“We are at the forefront of a radical change in new medical technologies and therapeutics, from robotics to revolutionary cancer treatments. These advances will benefit millions of people and we’re looking to invest in start-ups and SMEs so they can scale up and reach the NHS and other markets with their cutting-edge innovations," Synett added.
The Kent Life Science Fund will work in partnership with the Institute of Pharmaceutical Science, King’s College London and the University of Kent alongside the NHS and private Healthcare Trusts.