Drug discovery accelerator Cumulus Oncology is eyeing global alliances, venture capital partnerships and a US office opening in 2021.
Co-founder and chief executive Clare Wareing said she is looking at growth opportunities in Europe and Asia, as well as adding two more newco subsidiaries and some more senior team appointments.
Edinburgh-headquartered Cumulus was founded in 2017 to create spin-out companies around novel anti-cancer therapies that are fast-tracked through development and target cancers that don’t respond well to existing treatments.
It secured a £1.7m investment round led by Eos Advisory last July and in September founded its first spin-out, Modulus Oncology, alongside the University of Sheffield.
Cumulus grew its headcount to 20 last year, appointing Mohamed (Raz) Dewji, Chris Brinsmead CBE, Ian Waddell and Nicola Broughton to its advisory board.
Wareing commented: “We now have an incredible team in place and we’re collectively focused on developing and commercialising cancer therapies, while scaling the company from a base in Scotland.
"We are not one biotech based on a scientific discovery at a point in time, but a company that continually creates new biotechs in response to emerging scientific discoveries.”
Co-founder and chair Alan Wise said: “We are actively engaged in discussions with a number of international cancer drug discovery organisations and investment partners and look forward to sharing key milestones for Cumulus and the companies we create and manage in due course.”
Wareing was previously an oncology scientist and entrepreneur who established and scaled Nexus Oncology before its acquisition by US-based Ockham Development in 2012.
Wise was the chief executive of Scottish biotech IOmet Pharma, which was acquired by US pharmaceutical group MSD in 2016, while fellow co-founder Phill Cowley was head of chemistry at IOmet.
