Venture capital investment manager Deepbridge Capital has announced the completion of its latest Life Sciences SEIS £1m funding round.
Companies receiving seed-stage funding include Carocell Bio, Circada, FlutterLab, GenoMe Diagnostics, Glucose Republic and NanOptima.
The Deepbridge Life Sciences SEIS enables private investors to access a portfolio of early-stage companies within the UK’s vibrant life sciences sector, whilst benefiting from the generous potential tax reliefs available via the Government’s Seed Enterprise Investment Scheme (SEIS).
Deepbridge also manages the Deepbridge Life Sciences EIS, the Deepbridge Technology Growth EIS and the Deepbridge Innovation SEIS.
Over the six-month period to 28 February 2021, Deepbridge is reporting a greater than 40% increase in subscriptions to its Life Sciences EIS and SEIS portfolios compared to the same period in the previous year. This increased interest in the sector from investors is credited in part to the growing maturity of the Deepbridge specialist offering, but the firm also believes that this is attributable to an increased general interest in life sciences due to the ongoing coverage of Coronavirus treatments and vaccinations.
Dr Savvas Neophytou, Partner and Head of Life Sciences at Deepbridge Capital, commented: “We are delighted to welcome these companies and their founders to Deepbridge, where they join a strong portfolio of healthcare and medical innovation focused companies. We have high hopes for each of these companies and look forward to supporting them on their growth journey. The past twelve months has shone a spotlight on the world-leading innovation in the UK life sciences sector like never before, and we have understandably seen significant growth in investor interest as a result.
“It is particularly pleasing for Deepbridge to welcome our first Northern Ireland based investee company, in GenoMe Diagnostics. From northeast Scotland to southwest England, now across all four home nations, we are supporting the very best life sciences innovations, entrepreneurs and scientists.”