Cumulus Oncology is an Edinburgh, Scotland oncology biotech that sources novel oncology assets from academic institutes, commercial drug discovery groups and biopharmaceutical companies. Led by founder and CEO Clare Wareing, the company identifies targets, performs due diligence and market assessment, then spins selected assets into newly created companies which it funds and manages to key development milestones. It uses AI and machine learning platforms to prioritise targets and assets and contributes early-stage capital and oncology drug development expertise to its portfolio companies. Cumulus raised £9M in a Seed financing led by Eos Advisory and the Scottish National Investment Bank to execute growth plans, expand its portfolio and accelerate development toward clinical proof of concept. Its first spinout, Nodus Oncology, is engaged in two oncology drug discovery programmes in the area of DNA damage response, and a second stealth company is slated to be unveiled in early 2024. Further projects are poised to read out important data points that will form the basis of at least a third new company creation within the next 12 months, and venture capital partners are important collaborators when spinouts reach key inflection points. Cumulus Oncology is Europe’s first oncology biotech creation company that identifies novel oncology assets to de‑risk and form spin‑out companies to commercialise cancer therapies. Founded in 2017 and based in Edinburgh, Scotland, Cumulus has created spin‑outs including Nodus Oncology (April 2020) focusing on DNA damage response and Modulus Oncology (September 2020) formed with the University of Sheffield. The company is led by CEO and co‑founder Clare Wareing. Cumulus plans to accelerate its business model to identify and develop treatments targeting unmet needs in specific cancer patient populations. It has secured a £4.1 million ($5.6 million) investment led by Eos Advisory with Scottish Enterprise participating, and an additional £1.5 million ($2.0 million) is expected to follow. Dr Russell Greig has joined the board as Chairman to help guide strategic focus, drawing on his drug development and business development experience at GlaxoSmithKline and advisory roles across biotech and VC. Cumulus Oncology is described as Europe’s first oncology drug-discovery accelerator, creating spin-out companies that develop cancer therapies. Founded in 2017, the firm focuses on fast-tracking treatments into clinical trials for cancer types that respond poorly to existing procedures. The company says it has spent three years curating a high-calibre team and building a portfolio of oncology asset-centric spin-outs. Clare Wareing, founder and CEO, has roughly 20 years’ experience with big pharma, biotech and clinical research organisations and previously founded Nexus Oncology, which was acquired by Ockham in 2012. Cumulus aims to scale its business model across Europe and capitalise on what it describes as significant market opportunities. The team positions itself to attract venture capital and trade investors as European biotech investment grows.

Total raised

$19M

Funding rounds

3

Latest round

Seed

Latest activity

Jan 2024