Participated · Series A · May 2026

Cytospire Therapeutics develops differentiated multispecific engager antibodies that bind and activate both tissue/tumour and blood-resident gamma delta T cells to direct innate and adaptive effector immune responses. Its core technology aims to enable safer and more efficacious targeting of validated antigens that are intractable to CD3 T cell engagers due to toxicity. The company's lead programme, CYT X300, is in IND-enabling preclinical studies while the firm is advancing GMP manufacturing for the asset. Cytospire plans to use its newly raised Series A proceeds to progress this pipeline work. The company is led by CEO Natalie Mount. Recent corporate developments include strengthening the board with appointments from participating investors following the financing.

Led · Seed · Oct 2025

Adaptam Therapeutics engineers antibody-based immunotherapies that disrupt the tumour microenvironment by targeting glycoimmune checkpoints selectively expressed on tumour-associated macrophages and other immunosuppressive myeloid cells. Its pipeline includes antibody-drug conjugates and bispecific antibodies designed for multiple oncology indications. The company’s science originates from research carried out at CIC bioGUNE in Bilbao and has been published in Nature Communications. Led by founder, CEO and CSO Prof. Asis Palazon, Adaptam operates from San Sebastián and Barcelona. The recent capital infusion will advance its lead programmes into preclinical development and support preparation for subsequent fundraising as it moves toward clinical trials. Previous non-dilutive backing came from a 2021 Caixa Research Health grant, alongside early support from Criteria Bio Ventures. Adaptam currently remains pre-revenue and is focused on demonstrating preclinical proof-of-concept for its platform.

Participated · Series B · Sep 2025

NRG Therapeutics, based in Stevenage, is developing a new class of small-molecule inhibitors that block the mitochondrial permeability transition pore (mPTP) to protect neurons and reduce neuroinflammation. Its lead candidate, NRG5051, has shown strong neuroprotective effects in preclinical models of ALS/MND and Parkinson’s disease and has completed IND‑enabling studies. NRG5051 is on track to enter first‑in‑human trials in early 2026. The company’s immediate goal is to achieve clinical proof‑of‑concept in ALS/MND and to generate initial clinical data in Parkinson’s. Management cites mitochondrial dysfunction as a common underlying pathology in neurodegenerative diseases and positions mPTP inhibition as a protective strategy. The business raised new capital to fund the transition from preclinical to clinical development and to advance its broader portfolio of small‑molecule candidates. NRG Therapeutics applies mitochondrial biology to develop disease-modifying therapeutics aimed at slowing or halting progression of neurodegenerative disorders including Parkinson’s and ALS. Its pre-clinical pipeline centers on brain-penetrant small molecule assets that inhibit the mitochondrial permeability transition pore (mPTP) via a novel mechanism of action. The company intends to use the funds to advance these assets through IND-enabling studies. Following the financing, Professor Seth Masters joined NRG as VP of Discovery Biology and NRG will sponsor a team in his WEHI laboratory under a research agreement. Investor representatives from Omega Funds and Brandon Capital have joined NRG’s board, and the company has expanded its UK R&D and operational base with a move to the Stevenage Bioscience Catalyst. The company is led by CEO Dr Neil Miller. NRG Therapeutics is a private UK neuroscience company focused on mitochondrial dysfunction and developing orally bioavailable, CNS-penetrant small-molecule inhibitors of the mitochondrial permeability transition pore (mPTP). Its pipeline targets first-in-class disease-modifying medicines for Parkinson’s disease and motor neurone disease (MND/ALS), with preclinical data showing mitochondrial protection, prevention of neuronal cell death, reduced neuroinflammation and extended survival in animal models. The company’s lead assets are being advanced from lead optimisation toward IND-enabling GLP-toxicology studies. A recently awarded £2.68M Biomedical Catalyst early-stage grant, part-funded by Innovate UK, will support a 24-month programme to generate a preclinical package demonstrating brain penetration, neuroprotection in animal models, and chronic dosing tolerability. NRG co-funds 30% of the BMC project and has previously received seed equity from Parkinson’s Virtual Biotech and grant funding from The Michael J. Fox Foundation, plus an earlier Innovate UK EDGE grant. The programme aims to deliver the data necessary to progress the lead candidate toward regulatory filing steps if results are successful. NRG Therapeutics is developing first-in-class small-molecule inhibitors of the mitochondrial permeability transition pore (mPTP) aimed at treating Parkinson’s by targeting mitochondrial dysfunction in brain cells. The company has discovered orally bioavailable, CNS-penetrant second-generation mPTP inhibitors and progressed two independent chemical series into lead optimization after phenotypic screening in isolated mitochondria. These candidates act independently of cyclophilin D and have potential application for motor neurone disease as well as Parkinson’s. Parkinson’s UK, via its Parkinson’s Virtual Biotech drug-development arm, has made three equity investments into NRG totaling £2.5m, including a further £490k announced to push programmes toward preclinical development candidate nomination. The new funding will be used to progress lead drug candidates toward preclinical development candidate nomination, and NRG plans to secure a Series A to advance assets into the clinic. The company aims to complete IND‑enabling studies for its lead asset by the end of 2023. NRG Therapeutics is focused on discovering and developing small-molecule drugs that safeguard mitochondria in dopamine-producing neurons, addressing mitochondrial dysfunction linked to Parkinson’s disease. The initial programme aims to identify brain-penetrant molecules that prevent mitochondrial permeability transition and downstream cell death. If lead compounds are identified, the company plans pre-clinical testing in Parkinson’s models followed by small-scale human clinical trials to assess safety and potential benefit. Parkinson’s UK has provided a seed investment as part of its Virtual Biotech programme to support this translational work. The partnership includes strategic engagement from Parkinson’s UK research leadership, with Dr Arthur Roach joining NRG Therapeutics as a Non-Executive Director. NRG positions itself as a developer of disease-modifying treatments for neurodegenerative conditions, starting with Parkinson’s.

Participated · Seed · Oct 2024

Tolerance Bio is developing a pipeline of therapies that target thymus biology to preserve, restore and modulate thymic function with the goal of re-establishing immune tolerance. Its pipeline modalities include monoclonal antibodies, cell therapies, and mRNA approaches. The company is advancing a celiac disease program that aims to retrain immune responses by targeting the thymus and is pursuing preclinical proof-of-concept work. Tolerance Bio positions its platform as potentially applicable beyond celiac disease to a broader set of autoimmune conditions. The company announced a strategic investment from Beyond Celiac Investments to support early development and accelerate its path to the clinic. No revenue, user, or other operating metrics were disclosed in the articles.