We are investing more into UK life sciences, which is one of the eight growth sectors of the UK Industrial Strategy. The Bank is highly active in the sector, having already committed over half a billion into specialist life science funds. However, we will continue to back fund strategies like Epidarex. The UK has a very strong science and research base, so what is needed is investors who specialise in nurturing and scaling those ideas, creating new, IP-rich companies.
British Business Bank makes £50 million cornerstone commitment to Epidarex Capital
The British Business Bank has made a £50 million cornerstone commitment to Epidarex Capital’s next fund. This commitment follows the Bank’s prior cornerstone investment to Epidarex Capital III UK, LP in 2020, where it committed £50 million to a £102 million fund through its Enterprise Capital Funds Programme.
Epidarex is an early-stage life sciences investor headquartered in Edinburgh, with an office in the U.S. The firm invests in high-growth life science companies, often partnering with leading medical universities and research institutions. Epidarex provides Seed and Series A funding to transform innovative science into the next generation of drugs and medical devices.
The British Business Bank is the largest investor in UK venture and venture growth capital funds and regularly makes cornerstone commitments to funds. These commitments help a fund to achieve a first close and pave the way for other investors to go into the fund, helping to mobilise private sector capital.
This commitment shows the Bank’s continued support for the UK’s thriving spinout ecosystem. Between 2022-2024 almost a quarter (24%) of university spinout deals were supported by the Bank, demonstrating its significant role in supporting the commercialisation of cutting-edge scientific research.
Epidarex continues to specialise in company creation and early-stage investing in therapeutics and medical devices, including building companies across the UK’s established and emerging research hubs, as well as incubating innovations in-house, Epidarex focuses on addressing major unmet disease needs, including in oncology, inflammation, cardiometabolic and neuroscience.
Christine Hockley, Managing Director and Co-Head of Funds, British Business Bank, said,
Mark Andrews, Investment Director, Funds, British Business Bank, said,
We’re pleased to back yet another leading life science fund. While we have historically focused on growth stage funds, we must keep the pipeline strong by funding earlier stage companies. Our work with Epidarex will therefore support our later stage strategies in the sector
Sinclair Dunlop, General Partner and co-Founder, Epidarex Capital, said,
We are delighted to be continuing our longstanding partnership with the British Business Bank to seed and build another wave of the most promising life science companies based on breakthrough science from across all parts of the UK. We are excited to continue supporting the UK’s top entrepreneurs and scientific founders in unlocking new therapeutic possibilities for patients, by accessing capital from an experienced, early-stage, manager
