Pro-Cure Therapeutics (United Kingdom) - Nov 2007

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01 November 2007

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The White Rose Technology Seedcorn Fund, an early-stage investment fund managed by Aberdeen Asset Managers, has led a £550,000 round of funding for Pro-Cure Therapeutics Ltd, a company which is developing potential treatments for prostate cancer from stem cell research. White Rose contributed £250,000, with the balance being provided by Yorkshire Cancer Research (YCR). The new capital will be used to fund ongoing R&D operations and the commercialisation of the company’s research, as well as to buy new equipment. White Rose originally backed Pro-Cure in 2001, investing £250,000 to support the company’s spinout from the University of York, and has since participated in several follow-on financing rounds. The fund is exclusively designed to support investment opportunities emerging from the universities of York, Leeds and Sheffield and is financed by Yorkshire Forward, a regional development agency, and the universities themselves.

Company

Pro-Cure, based in York, was set-up to commercially exploit the research of Professor Norman Maitland at the YCR Cancer Research Unit in the University of York’s biology department. Through the research a catalogue of new cancer stem cell targets has been created that many believe will eventually lead to the development of a cure for prostate cancer. Pro-Cure is currently in advanced discussions with major pharmaceutical companies on how best to exploit this work.

People

David Milroy led the investment for White Rose. Dr John Knights is the CEO of Pro-Cure.

Advisers

Company - Sarrer, Richard Lane (Legal)

Sourced from: UK & Ireland unquote" 358 (Dec 2007)