Absynth Biologics raises £850,000

Fusion IP committed £450,000 with the North West Fund for Biomedical contributing the balance.

The capital injection enables the firm to drive its programme towards pre-clinical milestones.

The North West Fund for Biomedical is jointly financed by the European Investment Bank and the European Regional Development Fund. The vehicle is a sub-fund of The North West Fund, and is managed by Spark Impact.

Fusion IP focuses on early-stage investments in university spinouts.

Company
Based in Sheffield and founded in 2007, Absynth Biologics produces a range of products to target infectious diseases. The company's antigens offer protection against a range of bacterial infections.

The firm is a spinout of the University of Sheffield.

People
Penny Attridge is senior investment director at Spark and manager of The North West Fund for Biomedical.

Advisers
Equity (Spark) – DWF Solicitors (Legal).
Equity (Fusion IP) – Irwin Mitchell, Andrea Cropley (Legal).
Company – Keystone Law, Robert Matthews (Legal).

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• Topics
• UK / Ireland
• Healthcare
• Early-stage
• United Kingdom