28th Jun 2016 07:43
LONDON (Alliance News) - Investment company Imperial Innovations Group PLC on Tuesday said portfolio company Storm Therapeutics has raised GBP12.0 million through a Series A funding round.
Imperial committed GBP3.0 million to the new funding round, having led the company's feed funding in May 2015, and will now have a 22.3% stake in the business. The investment arms of drug companies Merck & Co and Pfizer Inc also participated in the new funding round.
Storm is a spin-out from Cambridge University's Gurdon Institute and is focused on developing small molecules targeting RNA-modifying enzymes as the basis for the development of new cancer therapies.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Imperial Innovations Group