TBM 100 Life Sciences Showcase - November 2023 Insert

NOVEMBER 2023

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100 LIFE SCIENCES SHOWCASE

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LIFE SCIENCES SHOWCASE

PUTTING LIFE SCIENCES AT THE CENTRE OF THE UK ECONOMY The UK’s life sciences sector is critical to the UK economy’s future health.

We look at the issues and showcase some of the region’s most innovative companies.

By Nicky Godding, Editor A strong life sciences sector is critical not only to our personal health, but to the economic health of the UK, and British scientists are acknowledged to be among the best in the world.

In this country, the sector employs more than 280,000 people and makes £94 billion for the UK economy every year, according to government statistics.

For years, our scientists have been at the heart of the global research community so the four-year hiatus when we were locked out of Horizon, the European Union’s flagship research programme from which the UK had been excluded after Brexit, was a bitter blow.

Thankfully, earlier this year the country was readmitted to this globally-renowned programme, and we are once again at the centre of global life science research.

This autumn, as the annual merry-go-round of party-political conferences kicked off, the Association of Medical Research Charities (AMRC), published a new manifesto which called for strong government support for life sciences to tackle the UK’s health crisis.

In England alone, nearly one in five adults are expected to be living with major illness by 2040, it said. Research can unlock new ways to diagnose and treat disease – so one of the boldest actions a government can take to address the health crisis is to

secure the fundamental building blocks that underpin UK research and development, said AMRC. This includes investing in infrastructure, supporting a skilled and diverse workforce, and embedding research in the NHS. Few would argue with this. But the last few years, since Covid, have been tough economically and private investment into life sciences across the world has slowed.

However, there are some signs that this could be reversing in the UK, kick-started by government. In May, a £650 million warchest to fire up the UK’s life sciences sector. was announced.

Its “Life Sci for Growth” package brings together 10 different policies including £121 million to improve commercial clinical trials to bring new medicines to patients faster, up to £48 million of new money for scientific innovation to prepare for any future health emergencies, £154 million to increase the capacity of the UK’s biological data bank, further aiding scientific discoveries that help human health, and up to £250 million to incentivise pension schemes to invest in the country’s most promising science and tech firms.

The Chancellor’s £650 million package also includes plans to relaunch the Academic Health Science Network as Health Innovation Networks to boost innovation by bringing together the NHS,

local communities, charities, academia and industry to share best practice.

However, this investment seems a lot less generous when put against the USA’s Inflation Reduction Act, which they signed into law in August. The Act aims to spur investment in green technology and lower healthcare costs in the United States by devoting a whopping $369 billion in subsidies through grants, loans and tax credits. It aims to improve US competitiveness, and there is significant concern across the UK and European Union that as a result, more investment money will flow the wrong way across the Atlantic.

This major feature by The Business Magazine showcases some of the region’s most innovative life sciences companies and hears from those working in the life sciences sector.

Definition of a life sciences company Any companies, pre revenue or commercial, operating in the fields of pharmaceuticals, biotechnology, medical devices, biomedical technologies, food processing and nutrition, and others that dedicate their efforts to creating products to improve lives.

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LIFE SCIENCES SHOWCASE

COLLABORATION IS KEY TO THE UK’S LIFE SCIENCES STRATEGY Philip Campbell, Commercial Director at MEPC, which owns science and technology campus Milton Park in Oxfordshire, and Claus Anderson, Life Sciences partner at law firm Freeths discuss the challenges facing the UK’s life sciences sector Earlier this year, the government set up a dedicated department for science and technology.

The UK’s scientific community considered the move long overdue.

Even better, the Department of Science, Innovation and Technology has, for the first time, been given a proper voice at the cabinet table.

The new department, led by the Rt Hon Michelle Donelan who had previously spent time in the government’s Education and Universities departments, has been very well received according to Philip Campbell, Commercial Director at MEPC, which owns the science and technology campus, Milton Park in Oxfordshire, and Claus Anderson, Life Sciences partner at law firm Freeths.

“Milton Park’s substantial life sciences community welcomed it as a clear statement of intent by the government,” said Philip. “There had been a feeling that the life sciences sector was being left on its own.”

The Department’s priorities for 2023 included optimising public investment in research and development and strengthening international collaboration on science and technology.

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One of its most memorable achievements came in September, when the government announced it had rejoined Horizon, the European Union’s flagship research programme, from which the UK had been excluded after Brexit.

While Claus applauds the department’s positive start, he says that it cannot stop there. “Collaboration is at the core of science and Horizon is one of the best platforms globally to enable that. I also welcome the trade deals the UK has done over the last year. While individually these aren’t headline news, together they strengthen support for the life sciences sector.

“I hope the government will continue with its focus to use the department as a tool to secure the interests of the scientific community. The sector generates significant income for the UK, along with thousands of jobs,” he added.

When the UK left Horizon, many top scientists and academics left the UK, causing somewhat of a brain drain as they faced losing EU research funding if they stayed.

Even with the UK’s readmittance into Horizon after three years in the cold, it’s still not as easy as it was to attract talent from overseas.

Claus said: “It adds a cost to recruitment that not all companies, especially the smaller ones, can necessarily afford but allowing scientists from across the EU and beyond to collaborate both here and overseas is in all our interests.”

Oxford Cambridge Regional Partnership resurrected At the same time as the government was setting up its new science and technology department, it was also approving plans for a locally-led economic partnership for the Oxford to Cambridge corridor to boost investment across the area.

The Oxford to Cambridge pan-regional partnership replaced the failed Oxford Cambridge Arc, set up only a couple of years before, which had been criticised as being uncoordinated.

The new Oxford to Cambridge panregional partnership covers Oxfordshire, Northamptonshire, Bedfordshire, Milton Keynes and Cambridgeshire – an area with a total population of about 3.5 million.

While it’s still early days, the partnership’s focus is on collaboration to attract greater global investment and achieve environmentally sustainable development for those living and working in the region.

LIFE SCIENCES SHOWCASE

Philip Campbell and Claus Anderson at Milton Park, Didcot

Pension fund investment could help start-ups to grow The government is also looking at ways to drive funding. In July, the chancellor announced plans to boost pension fund investment into UK technology and science companies, with some of the biggest funds – such as Aviva, Scottish Widows and L&G – committing to allocate at least five per cent of their funds to unlisted young companies by 2030.

This could mean up to £75 billion could be directed from pension funds – welcome news for start-ups and scale-ups which

spend significant amounts of their time fundraising in a financial pool which, thanks to the global economic challenges over the last few years, isn’t as big as it used to be.

With the recent news that the government is ending support for local enterprise partnerships, start-ups could lose this route to support, grants and funding.

But securing financial investment is only part of the challenge. Wider support for young businesses is also needed, and government investment here is being scaled down.

“The local enterprise partnership in Oxfordshire has been a good vehicle for such support,” added Philip. “The team there know what’s going on in the region and can make sure that support, financial or otherwise, is going to the right places.

They’ve got those connections and that visibility.

“The message I’m hearing, particularly from smaller life sciences companies, is concern about access to government support which for the last 10 years or so has been administered through local enterprise partnerships,” said Philip.

“I do worry what the impact will be on smaller companies when that support isn’t there.”

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LIFE SCIENCES SHOWCASE

Claus agrees. “Access to advice and a supportive community, as well as routes to funding, is absolutely crucial for young companies.

“Access to the right space for young companies to grow is also of critical importance, and not only stand-alone lab and office space, but located within a community of like-minded people.”

There is a considerable amount of new space being built in Oxfordshire, not least at Milton Park, which already has nearly three million sq ft of floor space, with agreements already in place to expand to almost four million.

“Milton Park is a well-established 300acre estate, and we are well placed to accommodate growing life sciences companies,” said Philip. “We have a simplified planning regime through a local development order, and we’ve invested heavily in infrastructure, including energy provision.

“We’ve also invested in repurposing and upgrading our amenities and one of the reasons we can do all this is that Milton Park is the largest single ownership science and technology community in the UK, so companies moving here understand that it’s a place where they can grow and expand.”

There is a lot of development in the pipeline across Oxfordshire and the wider region, agrees Claus. “But the challenge for young businesses is whether it’s being built at the right time to be available when they need it, and that falls to the developers, many of which are struggling with challenges of their own, not least rising interest rates, increased costs and shortages of skilled labour.

“And there’s also the concern from the scientific workforce. They need to have somewhere affordable to live and commutable, so building the right infrastructure and transport links alongside lab and office space is essential.”

“It’s about placemaking and connectivity,” agrees Philip.

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Milton Park, Didcot

Milton Park has set the example here, with an all-electric, autonomous bus service from the park to Didcot railway station – the first of its kind in the UK - and a 30-minute direct bus route link into central Oxford.

Region’s scientific facilities and university connections a honeypot for talent Oxfordshire and the region have a unique science infrastructure. With three universities (Oxford, Oxford Brookes and Shrivenham Defence Academy) and Diamond – the UK’s national synchrotron, alongside many other national scientific

and technology assets, the region is a magnet for the world’s brightest and best.

“People come to study and work in Oxford from all over the world, spending three, five, 10 years or even the rest of their lives here,” said Claus.

“It’s like a merry-go-round that brings in fresh impetus and talent all the time.

Yes, places like London also attract such people but Oxford and this region is more compact, and you don’t feel the same energy in a city of nearly nine million.

Oxfordshire and Berkshire combined have a population of less than two million.”

This year the University of Oxford held

LIFE SCIENCES SHOWCASE

Philip Campbell and Claus Anderson at Milton Park, Didcot

Philip Campbell on what young companies need to grow “When you think about a successful young life sciences company, you need to think about the four corners of a square.

on to the top spot as the leading UK academic institution for generating spinout companies.

University of Oxford companies also continue to be a magnet for investment.

Figures from Oxford University Innovation for 2022 demonstrate that Oxford spin-outs raised £956 million in external investment, an estimated 45 per cent of the £2.13 billion across the UK tracked by research company Beauhurst.

“There is so much in the pipeline, and that includes in areas around Reading too,” said Claus. “Talent is drawn to talent and that’s something that this region has in abundance.”

“The first corner is the science. If that’s not working, nothing will. The second is money. If you haven’t got enough of it, your business can’t grow. The third is talent. If a business doesn’t have the right people, then it won’t progress and the final one is space. Because if there’s nowhere to work on the science, then everything will come to a halt. If your start-up has those, then it’s got every chance of succeeding.

“And if you locate that within a thriving science and technology ecosystem such as there is in Oxfordshire and the wider region, then you’re giving your business an even bigger boost.

“Earlier this year we commissioned a major piece of research from Beauhurst, which revealed that life sciences companies secured an impressive 7.5 per cent of the UK’s total equity investment in the sector.”

Claus Andersen on future life sciences trends “The two technologies that are currently being talked about the most are artificial intelligence and quantum computing – both of which are very likely to be game-changing to the life sciences sector, says Claus.

“The phenomenal computation power of quantum computing and increasingly sophisticated capabilities of artificial intelligence, especially around drug discovery and development, present amazing opportunities and will speed up the advancement of life sciences discoveries because they have the potential to solve complex medical challenges in much less time than it currently takes.

“Precision, or personalised medicine is also another big growth area for the life science sector, alongside the digital transformation which is already going on across the sector.”

“There are companies across Oxfordshire and the wider region which are global leaders in these fields.”

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LIFE SCIENCES SHOWCASE

100 of the region’s most innovative and ambitious life sciences companies Company name Founded

CEO

Description

Location

30 Technology Ltd

2022

Syd Hanna, Group Executive Director

Developing nitric oxide-generating technologies for healthcare applications

Milton Park, Oxfordshire

Accentus Medical Ltd

2001

Philip Agg

Clinically established biocompatible surfaces for the implantable medical devices market

Harwell, Oxfordshire

Accession Therapeutics Ltd

2020

Bent Jakobsen

Developing novel immuno-oncology therapeutics – combining high specificity and potency to counter tumour diversity

Cowley, Oxford

Active Needle Ltd

2016

Ian Quirk

Developed a hand-held piezoelectric that interfaces with single-use medical needles to induce minute longitudinal ultrasonic vibration.

Abingdon

Adaptimmune Therapeutics Plc

2014

Adrian Rawcliffe

Clinical-stage biopharmaceutical company focused on the development of novel cancer immunotherapy products for cancer patients

Milton Park, Oxfordshire

Adaptix Ltd

2009

Sarah Small

Transforming radiology by developing a flat Ppanel X-ray Source (FPS) with a multitude of individually addressable emitters with integrated power supply

Harwell, Oxfordshire

ADC Therapeutics (UK) Ltd

2014

Ameet Mallik

Commercial-stage oncology-focused biotechnology company developing ADCs for patients with hematological malignancies & solid tumours

Reading

Akamis Bio Ltd

2006

Howard Davis

Clinical-stage oncology company leveraging its groundbreaking tumour gene therapy platform

Abingdon

Arctoris Ltd

2016

Martin-Immanuel Bittner

Tech-enabled biopharma company. Combines its automation platform, Ulysses, with advanced computations

Abingdon

AVaxziPen Ltd

2017

Roin Cohen (Chief Business Officer)

Developing a novel formulation vaccine delivery platform which is designed to enhance the immune response, offers a single measured dose and is thermally stable.

Milton Park, Oxfordshire

Beacon Therapeutics

2022

David Fellows

Ophthalmic gene therapy company founded to help patients with a range of prevalent and rare retinal diseases that result in blindness

Oxford

Bergenbio Ltd

2017

Martin Olin

Clinical-stage biopharmaceutical company developing innovative drugs for aggressive diseases including cancer and severe respiratory infections

Oxford

Bioarchitech Ltd

2014

Geoff Hale (Managing Biotech developing immunotherapy for the treatment of cancer Director)

Kidlington

BioMe Ltd

2015

Dr Soren Krogsgaard Thomsen

Developing a pill-sized medical device for targeted and minimally invasive sampling of the human gut microbiome

Oxford

Blue Earth Diagnostics Ltd

2013

Fulvio Renoldi Cracco

Develops innovative molecular imaging technologies to address unmet clinical needs

Oxford

Brainomix Ltd

2010

Dr Michalis Papadakis

Developed the world's first, fully automated AI-imaging solution for stroke assessment

Oxford

Caristo Diagnostics Ltd

2018

Frank Cheng

Uncovering coronary inflammation and plaque with technology using coronary computed tomography angiography

Oxford

CN Bio Innovations Ltd

2008

Dr Paul Brooks

Generating human-specific efficacy and safety data with its PhysioMimix single and multi-organ-on-a-chip solutions

Thame, Oxfordshire

Cytox Ltd

2004

Dr Richard Pitcher

Predicting those most at genetic risk for developing late-onset Alzheimer's disease

Oxford

Dark Blue Therapeutics Ltd

2020

Alastair Mackinnon

Cancer drug discovery company leveraging ground-breaking therapeutic and disease insights to exploit cancer’s vulnerabilities and dependencies

Oxford

DJS Antibodies Ltd

2014

David Llewellyn (Managing Director)

Creating the next generation of antibody therapeutics. Developed a platform for antibody discovery, and now use this to create novel therapeutics

Oxford

Eden Research Plc

1995

Sean Smith

Developing sustainable biopesticides and plastic encapsulation technology for use in global crop protection

Milton Park, Oxfordshire

Emergex Vaccines

2020

Professor Thomas Rademacher

Developing T cell-priming immune set-point candidates against viral and bacterial infectious diseases, using purely synthetic non-biological components

Milton Park, Oxfordshire

Enara Bio Ltd

2016

Kevin Pojasek

Exploring cancer and T-cell biology to discover and characterize Dark Antigens®, a novel class of shared immunotherapy targets that arise from altered cellular processes in cancer cells

Oxford

The Business Magazine has endeavoured to correctly describe to its general readership the work of each life sciences company listed. However, the magazine does not accept liability for any inadvertant mis-representation.

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Estryx Pharma Ltd

2015

Dr John Normanton

Drug development company in the design and development of small molecule targeted therapeutics in the fields of hormone-dependent and hormone independent cancer

Witney

Etcembly Ltd

2019

Michelle Teng

Building the world’s largest machine learning database and unmatched immunology expertise to deliver the safest and most powerful TCR immunotherapies through rapid computer-assisted engineering

Harwell, Oxfordshire

Evariste Ltd

2017

Anna Hercot

AI-driven drug discovery company

Goring, near Reading

Evotec (UK) Ltd

1991

Dr Werner Lanthaler

Life science company with a unique business model to discover and develop effective therapeutics

Milton Park, Oxfordshire

Evoc Therapeutics Ltd

2016

Dr Anthony De Fougerlles

Building a platform-driven technology company to spearhead the development of exosome therapeutics for the treatment of life-threatening rare diseases where there are currently limited treatment options

Oxford

Exact Sciences Innovation Ltd

2019

Kevin Conroy

Developing early cancer detection and treatment guidance

Oxford

Exscientia Ltd

2021

Andrew Hopkins

Developing AI to make safer and more sophisticated drugs available to all

Oxford

FluoRok Ltd

2022

Gabriele Pupo

Developing new disruptive fluorinating technologies that are safe, efficient and sustainable

Oxford

Dr Sumanta Talukdar

Crop health evaluation by directly measuring the plant biology using chlorophyll fluorescence

Milton Park, Oxfordshire

Gardin Ltd Genefirst Ltd

2011

Guoliang Fu (Co-founder)

Developing robust and easy-to-use solutions for the accurate diagnosis of diseases

Abingdon

Geneomics Solutions Ltd

2018

Prathiba Kurupati (Founder)

Early diagnosis and treatment using multi-omics data.

Abingdon

Genomics Plc

2014

Professor Sir Peter Donnelly (Founder and CEO)

Bringing genomic prevention to healthcare, improving the health of entire populations through the advanced estimation of personal disease risk

Oxford

Gliagenesis Ltd

2017

Dr John Normanton

Identifying new therapeutics for neurodegenerative diseases and neuropsychiatric disorders that currently have no effective treatments

Witney

Grey Wolf Therapeutics Ltd

2017

Peter Joyce

Developing the next generation of immunotherapies that illuminate nonresponsive tumours for destruction by the immune system

Milton Park, Oxfordshire

Holos Life Sciences Ltd

2019

Scott Callender

Discovery and development of epigenetic biomarkers integral to health and wellness

Oxford

Hutano Diagnostics Ltd

2018

Atherton Mutombwera

Simple diagnostic tools for early disease prognosis, diagnosis and management

Oxford

Hypha Discovery Ltd

2004

Liam Evans

Specialist in supporting pharmaceutical and agrochemical companies worldwide through the production of metabolites and late-stage derivatives of drugs and agrochemicals in discovery and development.

Abingdon

Immunocore Ltd

2007

Bahija Jallal

Commercial-stage T cell receptor biotechnology company developing and commercialising a new generation of medicines to address unmet needs in cancer, infection and autoimmune disease

Milton Park, Oxfordshire

IngenOx Ltd

2022

Professor Nick La Thangue

Biopharma advancing a clinical and pre-clinical pipeline of precision therapies and vaccines for different cancer indications

Oxford

In2Phase Ltd

2011

Nigel Adams, Direcgtor

Integrated pharma service providers dedicated to drug development

Theale

IntraBio Ltd

2015

Professor Mallory Factor (Chairman)

Developing novel therapies and treatments for rate and neurodegenerative diseases with high unmet needs

Oxford

Ipsen Bioinnovation Ltd

2005

David Loew

Focusing on transformative medicines in three key therapeutic areas: oncology, rare disease and neuroscience

Milton Park, Oxfordshire

Iqvia Biotech Ltd

1997

Megan Hooton (President)

Flexible clinical development solutions designed for the specific needs of biotech companies

Reading

Luca Science UK Ltd 2021

Dr Yosuke Matsumiya

Pioneering a novel class of mitochondrial therapeutics

Oxford

M2M Pharmaceuticals Ltd

Dr Mridul Majumde

Developing better medicines which are safer, developing faster and economical

Wokingham

2016

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Medimab Biotherapeutics Ltd

2020

Dr Claire Shingler (Business Manager)

Subsidiary of MediMabBio Inc a South Korea-based biotechnology firm founded by an Oxford graduate

Oxford

Metrhichor Ltd

2013

Clive Brown

Integrated, bespoke, real-time analysis solutions based on scalable, real time nanopore sensing technologies

Oxford

Nanovation Therapeutics Uk Ltd

2021

Dominik Witzigmann

Enabling the safe and efficient delivery of genetic medicines to target tissues in the body

Harwell, Oxfordshire

NeoVac Ltd

2021

Dr Eran Eilat

Design and development of small molecule targeted therapeutics in the fields of hormone-dependent and hormone independent cancer

Harwell, Oxfordshire

Neuro Bio Ltd

2013

Baroness Professor Susan Greenfield

Therapeutic focus on neurodegenerative disease. The company has discovered a novel 14 amino acid bioactive peptide (T14) derived from the C terminus of AChE

Abingdon

Novai Ltd

2020

Alison Howie

AI supported retinal biomarker for use in glaucoma and AMD clinical trials

Reading

Novavax UK Ltd

2023

Paul McIntosh, UK Country Director

Helping address serious infectious diseases globally through the discovery, development and delivery of innovative vaccines

Reading

Novo Nordisk Ltd

1973

Lars Fruergaard Jorgensen

Danish-headquartered global company with a major UK presence.

Translating the unmet medical needs of people living with a serious chronic Oxford disease into innovative medicines and delivery systems

Nucleome Therapeutics Ltd

2019

Dr Danuta Jeziorska

Decoding the dark matter of the human genome to deliver first-in-class precision medicines

Oxford

Omass Therapeutics Ltd

2016

Rosamond Deegan

Harnessing proprietary biochemistry, native mass spectrometry and custom chemistry to interrogate not just the target but how it interacts with its native ecosystem

Oxford

Orthoson Ltd

2015

Richard Simmons

Restoring the mechano-biology of the intervertebral disc to treat both the pain and the causes of degeneration

Oxford

Orthox Ltd

2008

Nick Skaer

Developing tissue regenerative implants which enable patients who have suffered injuries to their knee cartilage to return to a fully active, pain-free lifestyle

Oxford

Optellum Ltd

2015

Jérôme Declerck, Chief of Operations

Lung health company, developing products to help clinicians in the management, diagnosis and care of patients

Oxford

OrganOx Ltd

2008

Craig Marshall

Transforming liver transplantation, enabling functional assessment of donor organs prior to transplantation and improving transplantation logistics

Oxford

Osler Diagnostics Ltd

2016

Connor Campbell

Medical diagnostic company aiming to transform global healthcare by providing lab-quality diagnostic testing to anyone, anywhere, at any time

Oxford

Oxehealth Ltd

2012

Hugh Lloyd-Ukes

Vision-based patient monitoring systems.

Oxford

Oxford Biomedica (UK) Ltd

1995

Dr Frank Mathias

One of the original pioneers in gene and cell therapy. Viral vector specialists at the heart of a rapidly growing industry

Oxford

Oxford Brain Diagnostics Ltd

2018

Dr Steven Chance

Sophisticated diffusion analysis is based on neuropathology and the correlations between microscopic data and MRI analysis

Oxford

Oxford Cannabinoid Technologies Plc

2021

Clarissa SowemimoCoker

Developing licensed prescription medicines that target the endocannabinoid system to address significant unmet medical needs

Oxford

Oxford Drug Design 2001 Ltd

Dr Alan Roth

Discovering and developing novel therapeutics supported by pioneering computational methods

Oxford

Oxford Endovascular Ltd

2015

Mike Karim

Working to prevent brain haemorrhage by curing brain aneurysms, a condition that affects one in 50 people

Oxford

Oxford Expression Technologies Ltd

2006

Dr Adam Chambers, Principal Scientist

Centre of Excellence in the application and development of baculovirus science

Oxford

Oxford Gene Technology Ltd

1999

Adrian Smith

Pioneer in hybridisation technology and a leading provider of clinical research and diagnostic solutions

Kidlington

Oxford Genetics Ltd 2011 (OXGENE)

Weimin Valenti (General Manager)

Helps pioneering companies accelerate the discovery and biomanufacture of their CAR-T/Cell Therapies and Gene Therapies

Oxford

Oxford Immune Algorithmics Ltd

Dr Hector Zenil, Owner

Deep-tech that applies predictive and generative Artificial General Intelligence (AGI) to deliver decentralised precision health, and predictive medicine

Reading

2018

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LIFE SCIENCES SHOWCASE

Company name Founded

CEO

Description

Location

Oxford Mestar Ltd

2013

Professor Zhanfeng Cui, Chairman and Founder

Specialising in molecular diagnostics and biotechnology

Thame

Oxford Nanopore Plc

2005

Gordon Sanghera

Manufacturing and engineering genetic sequencing technology

Oxford

Oxford Simcell Ltd

2020

Michael Xiang

Technology which can produce non-replicating bacterial cells for a variety of healthcare applications

Oxford

Oxitec Ltd

2002

Grey Frandsen

Developer of biological solutions to control pests that transmit disease, destroy crops and harm livestock

Milton Park, Oxfordshire

OxSonics Ltd

2013

Jérôme Marzinski

Pioneering clinical-stage therapeutics company committed to developing a ground-breaking platform technology to make anti-cancer drugs smarter, act faster

Oxford

Oxular Ltd

2014

Mark Gaffney

Providing durable therapeutics precisely delivered to specific ocular tissues to control disease activity

Oxford

Pathios Therapeutics Ltd

2017

Stuart Hughes

Targets the acid-sensing GPCR, GPR65, as a genetically-validated innate immune checkpoint with the potential to revolutionise oncology treatment across multiple solid tumour type

Milton Park, Oxfordshire

PicturaBio Ltd

2021

Alex Batchelor

Developing a portable prototype of their AI-powered disease testing platform for use in military settings, where infectious diseases are a substantial threat

Oxford

Perspectum Ltd

2012

Dr Rajarshi Banerjee

Digital technologies that help clinicians provide better care for patients with liver disease, diabetes, and cancer

Oxford

Population Bio Ltd

2011

Eli Hatchwell, Chief Scientific Officer

Accelerates the delivery of precision medicine products to patients by discovering disease-relevant genetic biomarkers

Oxford

Rational Vaccines UK Ltd

2019

Agustin Fernandez

Investigational-stage infectious disease company focused on combating all diseases resulting from herpes simplex virus and herpes simplex virus 2 infections

Wantage

Replimune Ltd

2015

Philip Astley-Sparke

Pioneering novel class of tumour-directed oncolytic immunotherapies (TDOI) designed to kill the tumour locally, alter the tumour microenvironment, and ignite a powerful patient-specific immune response

Milton Park, Oxfordshire

Samsara Therapeutics Ltd

2019

Jens Eckstein, Chairman

Using proprietary data to find better ways to restore autophagy (body's process of reusing old and damaged cell parts)

Oxford

Scancell Ltd

1996

Professor Lindy Durrant

Clnical stage biopharmaceutical company leveraging its proprietary research to generate truly novel medicines to treat significant unmet needs in cancer and infectious disease

Oxford

Sense Biodetection Ltd

2013

Bryan Dechairo

Diagnostic technologies to deliver fast, accurate results and offer the flexibility to run one test or dozens at the same time

Abingdon

Sierra Medical Ltd

2021

Liberty Foreman

Early cancer detection

Abingdon Oxford

Spybiotech Ltd

2017

Mark Leuchtenberger

Clinical stage company using its unique protein superglue technology to develop vaccines against infectious disease and cancer

Summit Therapeutics Ltd

2004

Dr Maky Zanganeh

Medicinal therapeutic health care

Milton Park, Oxfordshire

T-Cyber Bio Ltd

2015

Thomas Lars Andresen

Building a pipeline of novel, TCR-based therapeutics

Oxford

The Microsampling Laboratory Ltd

2018

Dr Stephen Cooke, Managing Director

Analysis by High Performance Liquid Chromatography (HPLC) of small samples for compounds of veterinary use in animal species and the environment

Oxford

The Native Antigen Company

2010

Nick Roesen, Chief Operating Officer

Developing and manufacturing premium quality antigens and antibodies

Oxford

Theoylytics ltd

2017

Charlotte Casebourne

Discovery platforms which harness the power of viruses to identify therapies optimised for a chosen patient population

Oxford

Thirtyfivebio Ltd

2021

James Westcott

Precision treatment of digestive system disorders

Oxford

TwistDX Ltd

2002

Niall Armes

Promoting uptake and deployment of the RPA technology to enable lab, field and those decentralised applications which can benefit from its properties

Maidenhead

Vaccitech Ltd

2016

Bill Enright

Developing novel T cell immunotherapeutics for the treatment of chronic infectious diseases, cancer and autoimmunity

Harwell, Oxfordshire

Veritie Group Ltd

2015

Cici Muldoon

Creating a low-cost, easy-to-use, point-of-care solution that uses a simple urine sample to identify disease as early as possible

Witney

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LIFE SCIENCES SHOWCASE Dr Harry Destecroix, Founder Science Creates

BRINGING SCIENTIFIC DISCOVERIES INTO THE REAL WORLD Dr Harry Destecroix was able to capitalise on his scientific discovery very early on, now he’s helping other deep tech founders match his success

By Nicky Godding, Editor

012 THEBUSINESSMAGAZINE.CO.UK

LIFE SCIENCES SHOWCASE By the age of 31 Dr Harry Destecroix had successfully exited a company spun out from the University of Bristol which, had he been that way inclined, could have given him financial security for life.

It was one of the largest exits for a spin-out in recent years and if Ziylo’s discovery fulfils its potential to improve the lives of millions of diabetes suffers around the world, the deal could be worth upwards of $800 million.

Instead, he’s building a science ecosystem in Bristol, aiming to topple some of the major hurdles he faced early on and make it easier for other deep tech entrepreneurs to develop their ideas and raise finance.

In 2017, the year before he and his cofounders sold Ziylo, Harry opened Science Creates’ first science incubator in Bristol.

And what motivated him to set up Science Creates stemmed from his own experiences.

The breakthrough discovery, which led to Ziylo’s spin-out, came while doing a PhD under Professor Anthony (Tony) Davis at Bristol. Tony’s research group, of which Harry was one, discovered a way to make glucose sensors which could enable millions of diabetes sufferers around the world to manage their condition better.

Harry explains: “Type 1 diabetics must regularly inject the hormone insulin to maintain normal glucose levels. The major risk factor with insulin is that if you inject too much or overdose, it can be very dangerous and therefore scary for the diabetics, as it can result in low blood sugar levels (hypoglycaemia) which can be life threatening. This can result in a fear of over injecting, meaning often patients will under inject, especially in social situations, to avoid the risk of hypo. This is why a lot of diabetics struggle to hit the ideal glucose levels, leading to the increase in side-effects associated with the disease.

“My PhD thesis was almost a business plan on how to take our lab discovery into the real world, but the problem was – at that time the university wasn’t focused on deep

tech, and we didn’t know where to look for help.”

The new company’s first investment came, therefore, not from the university, but from Tony’s brother-in-law, Keith Macdonald – a successful investment banker, who wrote the co-founders (Harry, Tony and Harry’s childhood friend Tom Smart), a cheque for £5,000. Keith became the chair when the company spun out.

“It felt like a huge amount at the time, especially when we went to pay it into Barclay’s,” said Harry.

Tracking the effectiveness of government R&D investment But as Ziylo established itself, Harry could find nowhere outside the university lab for it to grow and little help available to engage with the commercial world.

Even when Ziylo secured Innovate UK grants and further angel investment, it continued to operate out of a corner of Tony’s university laboratories.

“We had nowhere to put the company, we were paying a lot for a corner of the lab, and we wondered – how do we commercialise the technology and give it back to the world?

“What we needed was separate lab space and to be surrounded by support from those operating between academic and the commercial world,” Harry added.

So, alongside developing Ziylo’s technology, Harry persuaded Keith to part with another £5,000 to invest in dedicated lab space outside the university.

“Most people who build incubators are universities or corporates, not the end user. We were a start-up designing our own incubator. We found a building in Bristol, hired an architect who we still work with, and designed our own research facility on Albert Road.”

Settled into its new home, Ziylo made a further breakthrough – the missing

“What we needed was separate lab space and to be surrounded by support from those operating between academic and the commercial world” component in making smart insulin. But while the team had made the switch, they didn’t know anything about making insulin, so they began to look for commercial support.

Enter one of the world’s most successful pharmaceutical companies, Novo Nordisk, which was so impressed at Ziylo’s achievement that, after 18 months, it acquired the company.

“Selling the company was a complicated legal process,” Harry explains. “We worked with the most incredibly bright and inspirational people on all sides of the table. I was 30 and learning how these things happen was an incredible experience, though I was massively out of my depth at the time.”

It’s this experience which drove Harry to welcome more companies into his incubator space. Fast forward five years and his investment has successfully developed into a deep tech ecosystem in Bristol, based in two locations – one on Albert Road, the other at Old Market. Together they offer 45,000 sq ft of lab, office and event space for deep tech start-ups, all designed and run by people who know what scientists need to take their ideas out of the labs and into the real world.

With Bristol now firmly on board, the university is rising fast up the rankings of universities spinning out the most companies. In a report commissioned by The Royal Academy of Engineering published earlier this year, Bristol now sits at No 6, significantly higher in the ranking (topped by the universities of Oxford and Cambridge), than it was just a few years ago.

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LIFE SCIENCES SHOWCASE

I was incredibly grateful to those who had invested in my company. One of my best friends gave me £1,000 he’d received as an inheritance, other friends and family invested too. All I ever wanted to do was to give that money back, and to be able to do so was the best feeling in the world.”

A lot of early-stage investment doesn’t come from private equity, he explains.

“With a start-up, the business often is pre-revenue so there’s little due diligence which can be done. Investors will either act on a hunch or follow someone who they think might know better than they do.

“And the more I angel invested the more I learned, so I set up a venture capital firm in 2020. Every founder needs different advice, and they must be careful about the advice they take. We focus on university IP, usually achieved after decades of research. We work with incredibly bright technologists, insanely smart people – some have never had a job in their life but they’re geniuses. We must work out how to finance them, what the finance model should be, what talent do we need?

Harry at Science Creates

Scientists need more than lab space, they need money But lab space isn’t enough, start-ups need money. Science Creates includes a venture capital fund and network of advisers and investors. Bristol now wants to be as friendly to deep tech startups as Oxford, Cambridge – even MIT (Massachusetts Institute of Technology) and Stamford in the USA. While most of his time is now spent mentoring and investing, Harry hasn’t abandoned his years of chemistry knowledge. After selling Ziylo, he cofounded Carbometrics with the original Ziylo team where he remains as Director, and Dr Andy Chapman (former Ziylo

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CTO) is the CEO. Earlier this year he was also awarded the 2023 Chemistry World Entrepreneur of the Year by the Royal Society of Chemistry.

Harry’s experience over the last five years made him realise that he and his cofounders achieved the almost impossible – to spin out and sell a company for a significant sum while it was still at the research stage. “It’s not rational to set up deep tech start-ups, the odds are that it’ll fail, but those who do it are driven because we believe we can leave the world a better place, and there’s something magical about that.

“After the deal with Novo Nordisk, I began angel investing because I felt I had a responsibility to give others a chance, and

“Here at Science Creates we have loads of equipment and you can walk into a lab and immediately get to work. There are so many different start-ups here, and a micro-community to support newcomers.

We have digital platforms, physical events and we matchmake all the time. We have a great coffee machine which is incredibly slow and have lots of social spaces to chat while you’re waiting. The bar is open every Thursday and we can have up to 150 people at events here.

“It’s about trying make it easy for people to connect and I spend a lot of my time here, chatting, listening and introducing people to each other.”

Thinking differently sets the world of ideas alight Harry grew up in Hampshire. He was the first (and only) child in a family of four to

LIFE SCIENCES SHOWCASE Osama Kamal - Folium Science at Science Creates

go to university (he studied chemistry at Plymouth), where he was formally diagnosed with dyslexia, but it was evident very early on that he approached the world differently. “I was three years old when my experiment set the bed on fire. By five I was electrocuting myself and learned to reset the electricity breakers at home. I took everything apart because I wanted to understand how they worked. I loved biology, chemistry, physics and maths but was in learning support English classes in secondary school because of written communication. I was in the top set for

triple science but in the lowest class for English. While I had a very high English comprehension, I was poor at writing and reading.”

“Having finally been diagnosed at university, I worked hard on my reading and writing, and caught up. Being dyslexic taught me resilience.”

More recently he has also been diagnosed with ADHD and is happy to talk about it openly, because he sees the huge positives in how he processes information.

“I’m in the top percentile for auditory and processing, but in the 10th percentile for short-term visual memory, which means I never know where my keys are. But I’m really good at simulating things and being creative, which is why I’m good at chemistry and the other sciences.

“For society to function, we all need to be different. In teams, everyone has a different role and when building a company, we construct teams around the founders and build complementary skills around them. It’s this approach which will help to achieve well-rounded outcomes.”

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LIFE SCIENCES SHOWCASE The UK’s national Synchrotron at Harwell

UK SCIENCE FACILITY THAT KICKSTARTED COVID DRUG DEVELOPMENT GETS £500 MILLION UPGRADE A ground-breaking science facility which kickstarted the UK’s world-leading Covid drug development and has advanced treatments of global health challenges from HIV to malaria and cancer, is to be upgraded and expanded thanks to more than £500 million of government investment.

and alongside groundbreaking health discoveries, has been crucial in the study of a range of subject matter, including fragments of ancient paintings and fossils, while finding solutions to extending the life of machinery such as engines and turbine blades.

Diamond Light Source at Harwell is the UK’s national synchrotron – essentially a giant microscope which produces light 10 billion times brighter than the sun that is directed into laboratories called beamlines where research takes place in virtually all fields of science from health to energy research.

It is 10,000 times more powerful than a traditional microscope

Sir Adrian Smith, Chair of the Board of Diamond Light Source and President of the Royal Society, said: “We are delighted that the government and the Wellcome Trust have agreed this substantial investment in science infrastructure which will ensure the UK is at the forefront of world class science. This investment will strengthen the UK’s global scientific leadership.

30 Technology sells antimicrobial platform for up to £176m 30 Technology, a Milton Park-based biotech which is developing nitric oxidegenerating technologies for healthcare applications, has sold its antimicrobial nitric oxide platform in certain applications to Convatec Group Plc – a global medtech company focused on solutions for the management of chronic conditions.

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The sale, which took place earlier this year, includes all wound care assets, research and development and commercial applications of the technology related to the topical treatment of chronic and acute wounds, burns and tissue repair, as well as other certain medical device applications.

The initial consideration is £45 million, with further potential payments of up to £131 million upon the achievement of specific regulatory approvals and commercial milestones, totalling £176 million.

Selling this technology will allow 30 Technology to accelerate its world-leading position in clinical, ultra-broad spectrum nitric oxide generation and rapidly advance its platform of nitric oxide generating technologies.

30 Technology is now focusing on tackling critical unmet needs in respiratory disease, animal health, rare diseases, oral health, ophthalmology and a range of other therapeutics applications, each of which constitute billion-dollar market opportunities.

LIFE SCIENCES SHOWCASE

Successful year for Perspectum after substantial fund-raise The year started well for Perspectum, the Oxford-headquaertered digital medical technology and diagnostic company. In March it announced it has raised a total of $55 million, bringing the total amount raised since the company launched in 2012 to around $140 million.

The aVaxziPen

Needle-free technology from aVaxziPen could transform the vaccine experience aVaxziPen is hoping to revolutionise the vaccine market by making distribution and deployment easier, faster and safer.

At present, nearly all commercially available vaccines are in liquid or suspension form, which means they require varying degrees of cold chain storage and handling, ranging from -80C to 2-5C. This is a major logistical challenge in communities globally where healthcare infrastructure is limited, and the cold chain cannot be upheld. The upshot is often wasted vaccine and no protection for vulnerable people. aVaxziPen’s unique delivery platform is a multi-use pen applicator coupled with a disposable, single dose cartridge containing a single solid dose vaccine.

The company, based at Milton Park, was recently awarded a contract by CEPI (the Coalition for Epidemic Preparedness Innovations) to formulate two vaccine candidates, one mRNA and one proteinbased with a view to improving the thermostability of vaccines for the benefit of low and middle income countries.

CEPI aims to create a world in which epidemics and pandemics are no longer a threat to humanity and enable equitable access to vaccines when outbreaks or pandemic threats emerge.

Supported by CEPI’s $1.6 million of initial funding, the partnership aims to establish a proof-of-concept for the two vaccine candidates – showcasing extended thermal stability up to 40C, and maintaining improved immunogenicity over a three month period.

Perspectum’s software enhances the capabilities of a standard magnetic resonance imaging (MRI) machine, enabling it to capture multiparametric mapping data which allows its AI-driven software to measure organ inflammation with greater precision, aiding diagnosis and the monitoring of patients with chronic diseases.

Since 2021, more than 80 million US adults covered by Medicare and commercial plans have had access to LiverMultiScan, the company’s flagship diagnostic tool to assess and monitor chronic liver disease.

The coverage and established reimbursement codes have fuelled LiverMultiScan’s adoption by several major US hospitals. Perspectum is working to expand its footprint across the US and to scale to meet the increasing demands for assessing organ health.

Oxford Biodynamics launches highly accurate prostate cancer screening test Oxford Biodynamics launched its highly accurate EpiSwitch prostate screening test in the UK and the US this autumn.

It means the product, which is 94 per cent accurate, will be immediately available to men being screened for prostate cancer, including those who have received an elevated prostate-specific antigen (PSA) result.

The test is carried out alongside a

standard PSA (Prostate-Specific Antigen) test and combines the PSA score with five proprietary biomarkers to predict, with 94 per cent accuracy, the presence, or absence, of cancer.

The company noted that the current PSA test was only 55 per cent accurate and was considered ‘unreliable’ by many doctors. If PSA levels are elevated, patients then face retesting or more

invasive methods such as a prostate biopsy.

Dr Jon Burrows, the CEO of OBD, said: “There is a clear need in everyday clinical practice for a much more accurate blood test that can screen men for prostate cancer and accurately identify those at risk, while sparing those who up to now would be subject to unnecessary, expensive, and invasive procedures.”

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LIFE SCIENCES SHOWCASE

DASA FUNDS PICTURABIO TO DEVELOP AI DISEASE TESTING PLATFORM FOR MILITARY USE Health technology company PicturaBio has been awarded Defence and Security Accelerator (DASA) funding to support development of its portable prototype of its AI-powered disease testing platform for use in military settings, where infectious diseases are a substantial threat.

This new device has the potential to drastically improve diagnostic testing capabilities, helping to limit the impact of infectious diseases on military operations by identifying diseases from a sample within minutes.

DASA, part of the government’s Ministry of Defence, ran a competition to find technologies that can help diagnose and treat military personnel deployed in the field, while addressing the limitations of current in-field diagnostics. PicturaBio received funding for the development and optimisation of IDRIS (In-Field Diagnostic for Rapid Infection Sensing), a robust and portable device designed specifically for frontline point-of-care use.

Military personnel can be highly susceptible to infectious diseases like influenza, MERS, Ebola, and respiratory infections, due to the physical and mental strains of deployment, close living quarters, frequent contact with novel pathogens and lack of good sanitation. These diseases have a significant impact on the health of military troops, potentially leading to the cancellation of military operations.

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PicturaBio’s IDRIS device surpasses current diagnostic methods in terms of speed, cost-effectiveness, and accuracy, providing results within five minutes with 99 per cent accuracy.

An IDRIS prototype is currently in development and is expected to be completed by February next year.

PicturaBio ultimately aims to deploy IDRIS in multiple medical settings across the UK to help contain infectious disease outbreaks through early testing, treatment and isolation of patients.

Unlike current point-of-care tests, the machine learning software embedded in IDRIS, which works like facial recognition but for pathogens, can be trained to identify an unlimited number of pathogens.

Alex Batchelor, CEO of PicturaBio, said: “It is clear there is a significant gap in the market for instant, accurate and affordable point-of-care diagnostics for use in-field.

By moving away from centralised lab testing, we can take necessary action much quicker to better control the spread of diseases and improve the health of military personnel.

“Our disease testing platform is ideally suited for in-field testing on the front line because it is small, portable, requires little expertise to operate and provides a solution for all of the challenges posed by current diagnostics.”

Etcembly reveals world’s first AI generative bispecific T cell engager This summer, techbio innovator Etcembly came out of stealth mode, kickstarting the next generation of immunotherapies with a pipeline of best-in-class T cell receptor (TCR) therapeutics designed using generative AI. The company says its lead therapeutic programme, ETC-101, is the world’s first AI-designed bispecific T cell engager. It targets PRAME, an antigen present in many cancers but absent from healthy tissue.

Co-founder and CEO Michelle Teng said: “Etcembly was born from our desire to bring together two concepts that are ahead of the scientific mainstream –TCRs and generative AI – to design the next generation of immunotherapies. It’s a real testament to the tenacity of our team and our technology that we’ve generated a robust pipeline with first-in-class applications within a few years, and I’m excited to take these assets forward so we can make the future of TCR therapeutics a reality and bring transformative treatments to patients.”

LIFE SCIENCES SHOWCASE

Total investment in UK spin-outs drops, but life sciences continue to perform strongly New data published in September by research company Beauhurst and private equity investors Parkwall, has revealed a fall in total investment into UK spin-outs during 2022 and 2023 after a decade of consistent growth. But record number of deals in 2022 and strong performance in life science and AI give cause for optimism.

It is the first consecutive period of decline in over a decade of strong growth which has seen more than £13 billion of investment secured by UK spin-outs.

The authors say the report’s findings reflect testing economic conditions which have driven up the costs of borrowing and impacted investors’ risk appetite over the last 18 months.

Despite this, 2022 set a new record for the number of deals secured by UK spin-outs, at 414, just up on 2021 levels. Total funding raised during 2022 also remained well above pre-pandemic levels at £2.3 billion.

The annual Beauhurst and Parkwall “Equity Investments into Spin-outs” report, now in its fourth year, highlights especially strong performance from spin-outs in life sciences

– which continue to thrive, making up the highest proportion of deals and securing four of the six highest value deals during 2022/23 and artificial Intelligence – for which investor interest remained strong, with a total of 52 deals in 2022-23 alone.

Notably, levels of foreign investment into UK spin-outs during 2022-23 reached a new peak, with more than 10 per cent of total funding into UK spinouts coming from foreign investors for the first time on record.

Moray Wright, CEO of Parkwalk said: “While global economic headwinds have impacted the performance of UK spin-outs, 2022’s record number of deals is a testament to world-leading innovation coming out of UK universities.

Earlier this year, the government appointed two leading university and investor experts to identify best practice in turning university research into commercial success, to help the UK drive its science and technology ambitions.

“Growing political support for unlocking for the full commercial potential of the UK’s science base, gives cause for optimism, but the job is not yet done.

Professor Irene Tracey CBE, Vice-Chancellor of the University of Oxford and member of the Medical Research Council of UK Research and Innovation, and Dr Andrew Williamson, Chair of the Venture Capital Committee at the British Private Equity & Venture Capital Association (BVCA), are consulting with universities, investors and founders to identify best practice in university spin-outs – companies born through university research.

“More must be done to encourage UK investors to back spin-outs, such as through the Enterprise Investment Scheme, to ensure more founders can access the funds needed to grow in the UK. “I’m confident the spin-out sector will continue to offer investors strong returns, whilst providing solutions to the greatest challenges facing us and future generations.”

The review will seek to build upon those strengths, harnessing them to boost global competitiveness with other leading spin-out regimes like the US.

Oxitech roars in to tame Asian tiger mosquito Oxitec, the developer of insect-based biological solutions to control pests that transmit disease, destroy crops and harm livestock, is to develop a biological solution for the invasive Asian tiger mosquito, Aedes albopictus, which transmits dangerous viral diseases such as dengue, Chikungunya and Zika.

This development programme will enable development of a safe, effective, and selflimiting strain of the mosquito that results in non-biting, non-disease transmitting male mosquitoes.

This is the first step towards delivering an urgently needed, highly-effective biological solution for the Asian tiger mosquito, in the Pacific region and beyond.

In addition to posing a major disease risk to billions of people, the Aedes albopictus mosquito is an aggressive daytime biter, causing major nuisance and hindering outdoor activities in many parts of the world.

It spreads globally via international shipping, car tyres and ornamental “lucky bamboo”.

Experts predict that if it continues to spread uncontrolled it will pose a disease threat to more than six billion people. Aedes albopictus is absent from mainland Australia but is present in neighbouring islands widely distributed across the Indo-Pacific region, where it causes regular disease outbreaks.

Oxitec says its safe, sustainable and targeted biological pest control technology

is ideally and uniquely suited to control this public health threat. Oxitec’s solutions are already helping to control the diseasetransmitting Aedes aegypti mosquito – another invasive, disease vector – by up to 96 per cent in dengue-prone urban communities. The Friendly™ Aedes aegypti is now being sold to households, businesses and governments across Brazil in just-add-water devices.

Grey Frandsen, Oxitec’s CEO, said, “We’re proud to be entering into a partnership with one of the world’s pre-eminent scientific institutions to take on the Asian tiger mosquito, which poses a danger to billions of people around the world. And climate change is only going to help it spread further.”

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LIFE SCIENCES SHOWCASE

New Health Innovation Networks get five-year licence The government and NHS England have relicensed England’s 15 Academic Health Science Networks (AHSNs) as ‘Health Innovation Networks’ (HINs) to reflect their key role in supporting development and spread of innovation across health services.

NHS England will commission the Health Innovation Networks for five years – until 2028.

Set up in 2013 by NHS England to act as innovation arms of the NHS, AHSNs work locally and nationally to support the spread of all types of innovation within the health service, from new technologies to ways of working and service improvements.

Children in Science Museum

ROYAL SOCIETY SCHEME OFFERS £3,500 GRANTS TO UK MUSEUMS TO CELEBRATE LOCAL SCIENCE STORIES Small museums are being invited to apply for the Royal Society Places of Science grant. The scheme offers grants of up to £3,500 to fund projects that present local stories of science and scientists in new, imaginative ways.

The scheme aims to support local museums to inspire members of the public to explore the diverse ways in which science has changed and influenced society.

Last year, 36 small museums received funding for their projects, which included a historically accurate medieval medicinal herb garden, and local primary school students exploring the intricate workings of their local museum’s own five-foot-tall clock tower.

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Professor Carlos Frenk CBE FRS, chair of the Royal Society Public Engagement committee, said: “The Royal Society Places of Science scheme is a fantastic opportunity for museums across the nation to dig deeper into the untold stories of science in their local communities.

“The programme has been running for four rounds, and we have seen museums use the grant to celebrate fascinating science stories through incredibly unique and diverse projects. Science is central to the culture and heritage of places across the UK, and we want to encourage new audiences to engage with the fascinating roles science has played in shaping their local communities.”

Under the Department of Health and Social Care and the Department for Science, Innovation and Technology’s joint commission – the Office for Life Sciences – AHSNs also support innovators to accelerate promising innovations from development to adoption, and boost economic growth.

Professor Gary Ford, Chief Executive of the Oxford AHSN and Chair of the AHSN Network, said: “It is a testament to the collective impact of the AHSNs over the past 10 years that our commissioners have issued a further licence. We welcome the opportunity and challenge this provides for our teams to identify, develop and spread innovations that meet the priorities of the NHS over the next five years.

“Under the new banner of Health Innovation Networks each organisation will continue to support local innovation and transformation working with the integrated care systems within their region, support innovators to develop innovations to address local needs and come together as a national network to evaluate and spread promising solutions at scale.”

LIFE SCIENCES SHOWCASE The City of Oxford

OXFORDSHIRE PLAYS PIVOTAL ROLE IN UK’S SCIENTIFIC AMBITIONS … … but must keep its foot on the gas, a new report says A report published this summer by Advanced Oxford has praised the progress made by the region over the last decade and made some key recommendations to help the region more easily achieve its scientific and technology potential.

The report, Oxfordshire’s Innovation Engine, revealed that the region has 2,950 high technology businesses employing nearly 29,000 people. Its knowledge economy contributed £2.4 billion to the UK economy, a 72 per cent growth in GVA compared to a decade ago.

The membership of Advanced Oxford, the organisation behind the report, are leaders of major knowledge-intensive businesses and organisations in the Oxford region. It is

research-led, providing a united voice on the key issues affecting the development of the innovation ecosystem in the Oxford region.

However, as well as confirming Oxfordshire’s position as a global scientific powerhouse (64 per cent of the region’s businesses are innovation active, and 5,700 patent applications have been made

by Oxfordshire based firms and institutions in the last five years to 2022), the report highlights the need to improve data connectivity, power infrastructure and the transport system.

It also recommends growing and diversifying the number of risk capital investors operating within the region and

shouting more loudly about Oxfordshire’s impressive innovation story.

More space is needed to meet lab demand While the region’s science parks and campuses have grown substantially in the last decade, demand is such that space remains a challenge, with demand for offices and laboratory floorspace exceeding one million square feet.

Sarah Haywood, Managing Director of Advanced Oxford, said: “Advanced Oxford intends that this report acts as a stimulus to Oxfordshire’s innovation community to come together and drive the next decade of prosperity.”

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LIFE SCIENCES SHOWCASE The report has heavyweight support.

Baroness Nicola Blackwood of North Oxford, chair of Oxford University Innovations, said: “Oxford is a scientific super-cluster. From our universities to our science parks, academics to investors; each plays a crucial part in keeping our innovation engine running.

“And while over the past decade we have seen this super-cluster continue to flourish, our job is not yet done. We cannot rest on our laurels. The Oxfordshire’s Innovation Engine 2023 report is a crucial resource in helping us take stock of all we have achieved, but more importantly it must aid government - at all levels - to ensure Oxford continues to play a leading role in helping the UK achieve its Science Superpower ambitions.”

Sir John Bell, Regius Chair of Medicine at the University of Oxford, also welcomed the report. He said: “Oxfordshire has an enormous contribution to make to the UK’s scientific ambition, but we cannot be complacent. There is still a lot that needs to be done if we want to realise the full potential of this region to solve some of the most pressing, global challenges we face.”

Key findings from the report also highlight that almost nine out of ten companies surveyed from the region think the government’s focus on the green recovery is an opportunity and the majority of prerevenue companies expect to be revenuegenerating within one to two years.

Advanced Oxford also expects employment to rise across innovation companies, but three quarters of companies will need to raise more funds to fuel growth over the next three years.

Is clustering the answer?

A new report says yes, but not in industry sectors Another report, this time from The Centre for Cities, an independent think tank which was also published this summer, looked at the clustering of innovative “new economy” firms over very short distances in the UK.

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The report’s findings included that while they account for a small share of the overall economy, firms in hotspots punch above their weight. Together, clustered new economy businesses are worth around one per cent of national output and 200,000 jobs, despite accounting for 0.6 per cent of businesses and 0.1 per cent of land. The places in which hotspots are located are generally more productive and have grown faster since the financial crisis than those without them.

large innovative companies can act as anchors around which start ups and small enterprises can benefit.

Contrary to prevailing ideas about clusters being centred around one industry, clustering over the distances used in the Centre For Cities report is rarely specialised. Instead, hotspots are almost always melting pots of different sectors.

This suggests that place and the benefits that places offer to businesses provide a more useful lens for policy than sector.

Large, high-technology employers can therefore act as anchors for clustered new economy activity, and they seem to perform this function more strongly than research-intensive universities. Like universities, however, the anchoring effect is strongest in the immediate vicinity.

Innovation Hotspots: Clustering the New Economy mapped 344 nationally significant hotspots of innovative firms across the UK and found that they typically comprised a wide range of related activities rather than one particular industry. Hotspots specialised in a single sector are rare, which suggests that most ‘new economy’ firms, irrespective of their sector, benefit from the advantages offered by a local area or neighbourhood.

Policies aimed at clustering ‘new economy’ activity should instead harness the common characteristics of existing hotspots such as good transport links, lots of quality office space, access to highly skilled workers and strong anchor institutions nearby such as a researchintensive university or large high-tech employer.

At a local level, hightechnology employers are stronger anchors than universities Large, high-technology employers have been shown to play important roles in translating local academic research into product development. Evidence from the biotechnology sector also suggests that

The Centre for Cities report found that high-technology employers have a positive impact on the odds that a neighbourhood has a hotspot. A neighbourhood within one kilometre of a major high-technology employer has a hotspot are just over two per cent, while the chance that those 10km away is just over one per cent.

For instance, according to James Evans, who authored the report, his research showed that there are 47 “new economy” firms in two hotspots the Centre for Cities identified at Milton Park near Didcot.

These hotspots buck the national trend in that they are centred around non-service activities (especially pharmaceuticals, research in the physical sciences, photonics, and agritech) rather than service ones (such as FinTech, software, or agency marketing companies doing SEO).

Andrew Carter, Chief Executive of Centre for Cities, said: “Government has a plan to increase investment in places where innovative firms are flourishing, and our research shows this is the right approach.

New economy hotspots are the melting pots where future productivity growth will emerge. The Government’s proposed Investment Zones will give places a chance to support innovative, high-growth activity further.

“For a long time, politicians have been happy to be seen as champions of specific sectors with potential for growth and innovation. Our advice to policymakers is that trying to narrow the focus of innovation hotspots will prevent them from achieving what they set out to do in the first place – nurturing places that offer lots of benefits to a wide variety of firms with high growth potential.”

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DORSET A30

Havant

M27

DEVON Exeter

Maidstone

Horsham

Salisbury

Tiverton

A30

Chatham

M25

Hastings Chichester

A27

Brighton Eastbourne

Poole

A35

Bournemouth

ISLE OF WIGHT

Launceston Weymouth

Torquay Newquay

CORNWALL

A38

Plymouth

St Austell A30

Truro St Ives Falmouth Penzance

Editorial

Championing Regional Business The region’s most influential B2B magazine, in print and online for news, features, interviews and business sector analysis.

2024 print issues will be published in January, March, May, July, September and November

NEXT ISSUE: JANUARY 2024

Print Editor

Nicky Godding

Deputy Editor

Pete Davison

nicky.godding@thebusinessmagazine.co.uk pete.davison@thebusinessmagazine.co.uk

Events Head of Events

Lauran Webb

Event Manager

Dan Teuton

Researcher

Laura Clarke

Events/Sales Executive

Lauren McCarron

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Marketing

Contact us Managing Director

Richard Thompson richard.thompson@thebusinessmagazine.co.uk

Managing Editor

Stephen Emerson stephen.emerson@thebusinessmagazine.co.uk

Operations Director

Jo Whittle jo.whittle@thebusinessmagazine.co.uk

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Marketing Manager

Rory Hinton

Digital Marketing

Scott Whittle

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Commercial Head of Client Relations Thames Valley

Peter Laurie

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Alan Lindstrom

Business Manager West Midlands

Kirsty Muir

Media Sales Manager South West & West Midlands

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The Business Magazine is published by The Business Magazine Group Ltd. Our readers are business owners, senior executives, directors, key influencers, entrepreneurs, innovators, and those working in further and higher education and government departments and business support organisations. Any opinions expressed by those quoted in this magazine are their own and do not necessarily represent or reflect those of The Business Magazine Group Ltd. No part of this publication may be reproduced or used in any form of advertising or promotion without the express written permission of the Managing Director, Managing Editor, or Print Editor.

ISSN 2516 – 0389 (Print) ISSN 2753 – 4561 (Online)