Participated · Equity · Apr 2026

Lightcast develops the Envisia platform, a benchtop system that captures functional single-cell data using proprietary light-controlled picoliter droplet manipulation to interrogate tens of thousands of droplets with speed and precision. The platform enables sequential single-cell functional screening and is being applied to antibody discovery, cell-cell interaction studies, immunology, oncology, cell therapy, and cell line development. Lightcast has run an early access program with leading pharmaceutical and academic institutions to validate performance and optimize workflows. The company plans a full commercial release of Envisia in 2026, and the recent financing is intended to support assay portfolio expansion, manufacturing and software readiness, and broader commercial rollout. Lightcast was founded in 2019 and is based in Cambridge, UK.

Participated · Equity · Feb 2025

OrganOx, spun out of the University of Oxford in 2008 and led by Oern R. Stuge, MD, MBA, develops the metra normothermic machine perfusion (NMP) platform to improve outcomes for patients with acute or chronic organ failure. The metra system is approved in the U.S., Europe, Canada and Australia and has been used in over 5,000 liver transplants to keep donor livers metabolically active, extend preservation times and enable functional assessment prior to transplant. The company is commercial stage and focuses on scaling its metra platform across global organ-technology markets. OrganOx says it will use new funding to expand operations and accelerate development efforts. Recent financings include a private placement first close and a primary/secondary equity raise intended to accelerate growth opportunities for the metra platform. OrganOx is an Oxford, UK–based commercial-stage organ medical technology company spun out of the University of Oxford in 2008 and led by Oern R. Stuge, MD, MBA, Executive Chairman. Its core product is the metra® normothermic machine perfusion (NMP) platform, approved in the U.S., Europe, Canada, and Australia, which keeps donor livers metabolically active outside the body for functional assessment prior to transplant. The metra® has been utilized in over 5,000 liver transplants to date, contributing to increased organ availability. The company also has an investigational metra® technology for kidney transplants that is expected to soon begin U.S. clinical trials and plans a first-in-human study with eGenesis combining metra® with genetically engineered porcine livers to support patients with acute-on-chronic liver failure. OrganOx recently closed a $142M equity financing and intends to use the funds to accelerate growth opportunities for its metra® platform in the global organ technology market. OrganOx develops metra, an automated normothermic machine perfusion (NMP) device that preserves donor livers in a functioning state for up to 24 hours and enables continuous monitoring and viability assessment. The metra platform provides surgeons with evidence-based data to decide whether to transplant donor organs and has enabled transplant of previously declined livers. The device is commercially available in Europe (CE Mark) and the United States. Since inception, OrganOx's NMP technology has supported over 2,500 liver transplants worldwide. The company was founded in 2008 by Professors Peter Friend and Constantin Coussios and is led by CEO Craig Marshall. OrganOx recently raised new growth funding to support its commercial and clinical expansion.

Participated · Equity · Apr 2024

Biofidelity is a commercial-stage genomic technology company based in Cambridge, UK and Morrisville, NC. The company develops diagnostic tests, including ASPYRE®-Lung, which simplifies and accelerates detection of biomarkers for non-small cell lung cancer (NSCLC). ASPYRE®-Lung is designed to deliver results in days instead of weeks and at a fraction of the cost of current sequencing tests. The company plans to use recent funding to accelerate commercial and clinical expansion in the United States to speed adoption of ASPYRE®-Lung. Additional uses of proceeds include establishing a dedicated manufacturing facility in the United Kingdom and driving pipeline expansion across Biofidelity's technology platforms. Biofidelity is led by CEO Dr. Barnaby Balmforth and is positioned as a commercial-stage player in the precision oncology diagnostics market. The company raised $24M in its most recent funding round. Biofidelity develops ASPYRE, a novel molecular diagnostic technology designed to simplify and accelerate detection of genomic biomarkers and run on existing PCR machines. The platform aims to increase access to early detection, precision diagnosis and routine monitoring, helping physicians identify patients who may benefit from targeted cancer therapies. The company’s initial commercial focus is ASPYRE‑Lung for non‑small cell lung cancer (NSCLC), with plans to expand application across the broader $15 billion cancer testing market. Biofidelity positions ASPYRE as a route to make comprehensive genomic biomarker analysis accessible to many more patients worldwide by leveraging common laboratory equipment. The company is led by CEO Dr. Barnaby Balmforth. It recently strengthened its financial position through new funding to support development and commercial launch activities. Biofidelity develops a disruptive cancer diagnostic platform that delivers ultra-sensitive detection of guideline-recommended genetic markers while simplifying workflows and using standard laboratory instrumentation. The company reports its assays match the sensitivity of specialized NGS with error correction and demonstrated a 50× improvement over current FDA-approved PCR diagnostics while reducing workflows from more than 100 steps to four. Biofidelity says its approach can expand access to precision genetic testing—estimating 95% of cancer patients are currently excluded from NGS due to cost, complexity, and slow turnaround. It is initially focusing on non-small cell lung cancer and colorectal cancer, with potential applications across a broad range of cancers and for detecting resistance to therapy and disease recurrence. Founded in 2019 and based in Cambridge, UK, the company completed a $12m Series A in August 2020 to accelerate development and clinical validation and to commercialize its oncology panels. Plans for go-to-market include direct sales, partnering and collaborations to rapidly deploy assays.

Participated · Equity · Apr 2023

Wayland Additive develops, manufactures and sells electron beam metal additive manufacturing (3D printing) machines to industrial end-users in aerospace and medical industries. The company’s technology is based on evolutions from scanning electron microscopy and electron beam lithography to advance electron beam 3D printing. Led by CEO Will Richardson, Wayland plans to use the funds to expand operations and increase in-house production capability. The business reported rapid growth over the past year and described 2023 as a successful year. Management said it will continue to seek additional funding over the coming year to support growth and global customer expansion. Wayland was born out of a high precision engineering team with links to the University of Sheffield’s Department of Materials Science and Engineering. Wayland Additive is a Huddersfield, UK-based electron beam metal 3D printing company that raised £4.6M in funding. The article notes that, led by CEO Will Richardson, NeuBeam manufactures and sells the Calibur3 metal additive manufacturing (AM) machines. Wayland's machines enable customers to print highly specialised "super materials," such as the world’s hardest steel or tungsten, remotely and on demand for high-temperature and high-wear applications. These capabilities target industries including aerospace, mining, and medical and enable development of downstream technologies. Customers cited include the RAF (UK) and Exergy Solutions (Canada); the article states next shipments begin in May to North America, Europe and beyond. The company plans to use the funds to increase in-house production capacity to deliver more machines and materials, to hire additional staff, and to support further research and development.

Participated · Series A · Apr 2023

Caristo Diagnostics completed a US$16.3M Series A to advance its imaging-based, AI-assisted diagnostic platforms. The company plans to use the funds to advance its CaRi-Heart technology into standards of cardiac care in global markets. Caristo is a 2018 University of Oxford spin-out based in Oxford, UK, led by CEO Frank Cheng. Its core product, CaRi-Heart, applies AI algorithms to routine cardiac computed tomography angiography (CCTA) scans to obtain measures of coronary inflammation using a Fat Attenuation Index (FAI) technology. The resulting FAI Score measures the risk of cardiac mortality due to coronary inflammation, and CaRi-Heart also provides a long-term cardiac mortality risk by integrating coronary inflammation with standard clinical risk factors and the presence of coronary plaques. The announcement did not disclose operating metrics.