Epidarex Capital Closes New £102 Million UK Venture Fund to Build Successful Life Science Companies

- New UK fund cornerstoned by £50 million investment from the British Business Bank, through its Enterprise Capital Funds (ECF) programme

- Epidarex Capital III UK LP will invest in new life science companies from emerging research hubs across the UK, including spinouts from highly regarded universities

EDINBURGH, Scotland and BETHESDA, Maryland, June 22, 2020 /PRNewswire/ -- Epidarex Capital ("Epidarex"), a transatlantic life science venture firm, announces that it has closed Epidarex Capital III UK LP (the "Fund") at £102.1 million. The Fund will build new life science companies based on world-class research and innovation from emerging hubs across the UK, including spinouts from highly regarded universities. Typical initial investments will range from £2 million to £5 million.

The new Fund has been cornerstoned by the British Business Bank via a £50 million commitment from its Enterprise Capital Funds (ECF) programme for early stage venture capital. The programme combines private and public money to enable equity investments in high-growth businesses, and since its inception it has committed over £1.36 billion (including third-party investment) to facilitate finance to 540 smaller UK high growth businesses. The Bank's investment in Epidarex Capital III UK makes it the largest ECF to date, and the first to specialise in life science.

In addition to the British Business Bank, the Universities of Edinburgh, Manchester, Glasgow and Aberdeen, alongside Strathclyde Pension Fund and several global investors have committed capital to the new Fund.

With its UK headquarters in Edinburgh and its US base in Bethesda, Maryland, Epidarex is a transatlantic venture firm that creates and invests in early stage, high-potential life science companies in emerging research hubs. Epidarex partners at an early stage with top scientists and entrepreneurs in the UK and the US to develop highly innovative products addressing major unmet needs in the global healthcare market.

Sinclair Dunlop, Managing Partner at Epidarex, said: "We are grateful for the tremendous support from the British Business Bank and from returning investors, which has allowed us to close this significant new UK fund. Epidarex's differentiated approach to life science investing draws from our global network of experts and long-standing relationships with multiple highly regarded universities and research institutions. Epidarex can now significantly expand and support its portfolio of UK life science start-ups with the potential to both transform patient outcomes and generate competitive investor returns."