£14 million extension increases Series A financing to £30 million
20 May 2019
Cambridge Innovation Capital plc (CIC), the venture capital investor focused on building category leading technology and life science businesses in the Cambridge ecosystem, has participated in a £14 million extension to Storm Therapeutics’ Series A financing, bringing the total Series A financing to £30 million, that was led by new investor Seroba Life Sciences.
Storm Therapeutics is a drug discovery company that is tackling disease through modulating RNA modifying enzymes. The Series A extension will enable Storm to advance its broad pipeline further in preclinical development and accelerate its programmes towards the clinic.
Storm Therapeutics has also strengthened its team with the appointment of Dr Mark Albertella as VP Translational Oncology. Mark was previously Director of Biology at Medivir AB and has a successful track record in oncology drug discovery and development at Argenta, OSI Pharmaceuticals, Kudos and AstraZeneca, with over 20 years’ experience in biotech and pharma industry in the UK, US and Europe.
Since we first invested in Storm Therapeutics, it has successfully translated world-class science from the University of Cambridge into the leading company tackling disease through modulating RNA modifying enzymes. We are delighted to continue to support the team as it progresses Storm’s programmes further towards the clinic.Partner of CIC
Dr Keith Blundy, CEO of Storm Therapeutics said "I am pleased to welcome Seroba to our investor syndicate and I would like to thank our existing investors for their continued support. This investment strengthens our Series A and provides further validation and support for Storm’s strategy to continue building a world-leading company harnessing the power of RNA epigenetics - an emerging, innovative area of drug discovery. It comes at an exciting stage as Storm starts translating its unique platform into effective treatments in oncology and beyond. Mark’s expertise in cancer drug discovery and development, encompassing in vitro and in vivo biology, translational and clinical research, will be invaluable to Storm as it progresses its pipeline towards the clinical stage."