ֱ̽ of Cambridge - Cambridge Innovation Capital /taxonomy/external-affiliations/cambridge-innovation-capital en Shadow Science and Technology Secretary discusses AI and innovation during Cambridge visit /news/shadow-science-and-technology-secretary-discusses-ai-and-innovation-during-cambridge-visit <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/spotlight-on/news/pkvisit4-crop.jpg?itok=xlqaGQg1" alt="" title="Credit: None" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> ֱ̽visit took place at <a href="https://www.cic.vc/">Cambridge Innovation Capital</a> and was hosted by <a href="https://innovatecambridge.com/">Innovate Cambridge</a> – an initiative which is bringing together partners across the city region to deliver an inclusive future for Cambridge and its science and technology cluster. ֱ̽Shadow Minister met with experts on AI from the ֱ̽ and from industry, discussing both the challenges it presents, as well as the enormous potential for AI to serve science, people, and society.</p>&#13; &#13; <p> ֱ̽first two sessions of the day were convened by AI@Cam, the ֱ̽’s flagship AI mission which is working to meet the challenges and opportunities of these new technologies as they emerge. At the opening roundtable, academics including Professor Dame Diane Coyle (Director of the <a href="https://www.bennettinstitute.cam.ac.uk/">Bennett Institute of Public Policy</a>), Professor Neil Lawrence (DeepMind Professor of Machine Learning), and Professor John Aston (Professor of Statistics in Public Life), provided expert analysis on AI policy challenges as well as the role AI can play in public service reform. ֱ̽group discussed how governance systems need to evolve for the AI era, and how an increasingly complex information infrastructure can be managed. In addition, they considered the opportunity that AI presents for improving public services and breaking down siloed decision-making within government.</p>&#13; &#13; <p>Mr Kyle took part in a series of ‘flash talks’, focused on areas where research in AI is delivering benefits to society. These included work by Dr Ronita Bardhan, from the ֱ̽’s Department of Architecture, on a new deep-learning model which makes it far easier and cheaper to identify ‘hard-to-decarbonise’ houses and develop strategies to improve their green credentials. Dr Anna Moore presented her work in the Department of Psychiatry, using AI systems to speed up the diagnosis of mental health conditions in children.</p>&#13; &#13; <p>In the afternoon, Mr Kyle met with leaders representing civic institutions, academia and business organisations from across the city, including Councillor Mike Davey, Leader of Cambridge City Council, and Andrew Williamson, Managing Partner at Cambridge Innovation Capital. They spoke about their shared vision and strategy for the region to ensure Cambridge remains a globally leading innovation centre, and a collective desire to deliver benefits both locally and across the UK.</p>&#13; &#13; <p> ֱ̽day concluded with a spin-out and business roundtable at which participants discussed the need for government and the private sector to be active in ensuring AI benefits all parts of the UK, and people are re-skilled as jobs change. Mr Kyle was also interested to explore how the UK can become a more attractive place to scale companies. Key considerations included the need to improve access to talent, capital and infrastructure, as well tackling the regulatory barriers which can make the UK less competitive.</p>&#13; </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>Peter Kyle MP, the Shadow Secretary of State for Science, Innovation and Technology, met academics from the ֱ̽ of Cambridge and leaders from the Cambridge community for a day focused on AI policy and innovation.</p>&#13; </p></div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="https://creativecommons.org/licenses/by-nc-sa/4.0/" rel="license"><img alt="Creative Commons License." src="/sites/www.cam.ac.uk/files/inner-images/cc-by-nc-sa-4-license.png" style="border-width: 0px; width: 88px; height: 31px;" /></a><br />&#13; ֱ̽text in this work is licensed under a <a href="https://creativecommons.org/licenses/by-nc-sa/4.0/">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License</a>. Images, including our videos, are Copyright © ֱ̽ of Cambridge and licensors/contributors as identified. All rights reserved. We make our image and video content available in a number of ways – on our <a href="/">main website</a> under its <a href="/about-this-site/terms-and-conditions">Terms and conditions</a>, and on a <a href="/about-this-site/connect-with-us">range of channels including social media</a> that permit your use and sharing of our content under their respective Terms.</p>&#13; </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Tue, 30 Jan 2024 15:08:23 +0000 ljm211 244241 at Cambridge and AI: what makes this city a good place to start a business? /research/features/cambridge-and-ai-what-makes-this-city-a-good-place-to-start-a-business <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/research/features/crop_2.jpg?itok=-7kHjDiY" alt="Cambridge Cluster" title="Cambridge Cluster, Credit: ֱ̽District" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>On any given day, some of the world’s brightest minds in the areas of AI and machine learning can be found riding the train between Cambridge and London King’s Cross.  </p>&#13; &#13; <p>Five of the biggest tech companies in the world – Google, Facebook, Apple, Amazon and Microsoft – all have offices at one or both ends of the train line. Apart from the tech giants, however, both cities (and Oxford, the third corner of the UK’s so-called golden triangle) also support thriving ecosystems of start-ups. Over the past decade, start-ups based on AI and machine learning, in Cambridge and elsewhere, have seen explosive growth.</p>&#13; &#13; <p>Of course, it’s not unexpected that a cluster of high-tech companies would sprout up next to one of the world’s leading universities. But what is it that makes Cambridge, a small city on the edge of the Fens, such a good place to start a business?</p>&#13; &#13; <p><a href="/system/files/issue_35_research_horizons_new.pdf"><img alt="" src="/sites/www.cam.ac.uk/files/inner-images/front-cover_for-web.jpg" style="width: 288px; height: 407px; float: right;" /></a></p>&#13; &#13; <p>“In my experience, Silicon Valley is 10% tech and 90% hype, but Cambridge is just the opposite,” says Vishal Chatrath, CEO of PROWLER.io, a Cambridge-based AI company. “As an entrepreneur, I want to bring world-changing technology to market. ֱ̽way you do that is to make something that’s never existed before and create the science behind it. Cambridge, with its rich history of mathematicians, has the kind of scientific ambition to do that.”</p>&#13; &#13; <p>“ ֱ̽ecosystem in Cambridge is really healthy,” says Professor Carl Edward Rasmussen from Cambridge’s Department of Engineering, and Chair of PROWLER.io. “ ֱ̽company has been expanding at an incredible rate, and I think this is something that can only happen in Cambridge.”</p>&#13; &#13; <p><a href="https://www.secondmind.ai/">PROWLER.io</a> is developing what it calls the world’s first ‘principled’ AI decision-making platform, which could be used in a variety of sectors, including autonomous driving, logistics, gaming and finance. Most AI decision-making platforms tend to view the world like an old-fashioned flowchart, in which the world is static. But in the real world, every time a decision is made, there are certain parameters to take into account.</p>&#13; &#13; <p>“If you could take every decision-making point and treat it as an autonomous AI agent, you could understand the incentives under which the decision is made,” says Chatrath. “Every time these agents make a decision, it changes the environment, and the agents have an awareness of all the other agents. All these things work together to make the best decision.”</p>&#13; &#13; <p>For example, autonomous cars running PROWLER.io’s platform would communicate with one another to alleviate traffic jams by re-routing automatically. “Principled AI is almost an old-fashioned way of thinking about the world,” says Chatrath. “Humans are capable of making good decisions quickly, and probabilistic models like ours are able to replicate that, but with millions of data points. Data isn’t king: the model is king. And that’s what principled AI means.”</p>&#13; &#13; <p>Could PROWLER.io be the next big success story from the so-called ‘Cambridge cluster’ of knowledge-intensive firms? In just under two years, the company has grown to more than 60 employees, has filed multiple patents and published papers. Many of the people working at the company have deep links with the ֱ̽ and its research base, and many have worked for other Cambridge start-ups. Like any new company, what PROWLER.io needs to grow is talent, whether it’s coming from Cambridge or from farther afield.</p>&#13; &#13; <p>“There’s so much talent here already, but it’s also relatively easy to convince people to move to Cambridge,” says Rasmussen. “Even with the uncertainty that comes along with working for a start-up, there’s so much going on here that even if a start-up isn’t ultimately successful, there are always new opportunities for talented people because the ecosystem is so rich.”</p>&#13; &#13; <p>“Entrepreneurs in Cambridge really support one another – people often call each other up and bounce ideas around,” says Carol Cheung, an Investment Associate at Cambridge Innovation Capital (CIC). “You don’t often see that degree of collaboration in other places.”</p>&#13; &#13; <p>CIC is a builder of high-growth technology companies in the Cambridge Cluster and has been an important addition to the Cambridge ecosystem. It provides long-term support to companies that helps to bridge the critical middle stage of commercial development – the ‘valley of death’ between when a company first receives funding and when it begins to generate steady revenue – and is a preferred investor for the ֱ̽ of Cambridge. One of CIC’s recent investments was to lead a £10 million funding round for PROWLER.io, and it will work with the company to understand where the best commercial applications are for their platform.</p>&#13; &#13; <p>AI and machine learning companies like PROWLER.io are clearly tapping into what could be a massive growth area for the UK economy: PwC estimates that AI could add £232 billion to the economy by 2030, and the government’s Industrial Strategy describes investments aimed at making the UK a global centre for AI and data-driven innovation. But given the big salaries that can come with a career in big tech, how can universities prevent a ‘brain drain’ in their computer science, engineering and mathematics departments?</p>&#13; &#13; <p> ֱ̽ ֱ̽ has a long tradition of entrepreneurial researchers who have built and sold multiple companies while maintaining their academic careers, running labs and teaching students. “People from academia are joining us and feeding back into academia – in Cambridge, there’s this culture of ideas going back and forth,” says Chatrath.</p>&#13; &#13; <p>“Of course some people will choose to pursue a career in industry, but Cambridge has this great tradition of academics choosing to pursue both paths – perhaps one will take precedence over the other for a time, but it is possible here to be both an academic and an entrepreneur.”</p>&#13; &#13; <p>“I don’t know of any other university in the world that lets you do this in terms of IP. It’s a pretty unique set-up that I can start a business, raise venture capital, and still retain a research position and do open-ended research. I feel very lucky,” says Dr Alex Kendall, who recently completed his PhD in Professor Roberto Cipolla’s group in the Department of Engineering, and founded Wayve, a Cambridge-based machine learning company. “A lot of other universities wouldn’t allow this, but here you can – and it’s resulted in some pretty amazing companies.”</p>&#13; &#13; <p>“I didn’t get into this field because I thought it would be useful or that I’d start lots of companies – I got into it because I thought it was really interesting,” says Professor Zoubin Ghahramani, one of Cambridge’s high-profile entrepreneurial academics, who splits his time between the Department of Engineering and his Chief Scientist role at Uber. “There were so many false starts in AI when people thought this is going to be very useful and it wasn’t. Five years ago, AI was like any other academic field, but now it’s changing so fast – and we’ve got such a tremendous concentration of the right kind of talent here in Cambridge to take advantage of it.”</p>&#13; &#13; <p><em>Inset image: read more about our AI research in the ֱ̽'s research magazine; download a <a href="/system/files/issue_35_research_horizons_new.pdf">pdf</a>; view on <a href="https://issuu.com/uni_cambridge/docs/issue_35_research_horizons">Issuu</a>.</em></p>&#13; </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>What makes a city as small as Cambridge a hotbed for AI and machine learning start-ups? A critical mass of clever people obviously helps. But there’s more to Cambridge’s success than that. </p>&#13; </p></div></div></div><div class="field field-name-field-content-quote field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even">In my experience, Silicon Valley is 10% tech and 90% hype, but Cambridge is just the opposite.</div></div></div><div class="field field-name-field-content-quote-name field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Vishal Chatrath</div></div></div><div class="field field-name-field-image-credit field-type-link-field field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/" target="_blank"> ֱ̽District</a></div></div></div><div class="field field-name-field-image-desctiprion field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Cambridge Cluster</div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="http://creativecommons.org/licenses/by/4.0/" rel="license"><img alt="Creative Commons License" src="https://i.creativecommons.org/l/by/4.0/88x31.png" style="border-width: 0px;" /></a><br />&#13; ֱ̽text in this work is licensed under a <a href="http://creativecommons.org/licenses/by/4.0/" rel="license">Creative Commons Attribution 4.0 International License</a>. For image use please see separate credits above.</p>&#13; </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Tue, 13 Feb 2018 08:00:00 +0000 sc604 195262 at Opinion: What makes the Cambridge cluster special? /research/discussion/opinion-what-makes-the-cambridge-cluster-special <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/research/discussion/hauser-crop.jpg?itok=bxOVa03j" alt="Hauser Forum" title="Hauser Forum, Credit: Sir Cam" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>More than <a href="/sites/www.cam.ac.uk/files/innovation_in_numbers_april2023.pdf">60,000 people</a> are employed in the so-called ‘Cambridge cluster’ of companies, and in excess of £12 billion in turnover is generated annually by the 4,700 knowledge-intensive firms in and around the city. ֱ̽innovation that underpins the cluster is impressive – the city publishes 341 patents per 100,000 residents (that's more than the next four cities in the UK combined).</p>&#13; &#13; <p>In my role, I am in the privileged position of having a general overview of how Cambridge’s entrepreneurial ecosystem works. When I took up this new post, I had heard that the entrepreneurial ecosystem in Cambridge is complex, fragmented and difficult to navigate. But now, I would argue that there is a logic and coherence to the Cambridge ecosystem, and what makes it work is that the structure exists, yet it is constantly evolving.</p>&#13; &#13; <p>As one of the world’s leading universities, we are a big part of the cluster and we have a long tradition of innovation and entrepreneurship: there are <a href="https://www.enterprisenetwork.group.cam.ac.uk/">more than 40</a> different programmes, groups and activities run by students, researchers, departments and Colleges, to support enterprise at Cambridge. These fall into five broad categories: research &amp; people, finance &amp; IP, space, skills and capability development, and networks.</p>&#13; &#13; <p><strong>Research &amp; People</strong><br />&#13; ֱ̽foundation of everything we do is great people doing great <a href="/research">research</a>. Through their work, people at all levels in the ֱ̽, from students to postdocs to faculty, are pushing the boundaries of human knowledge.</p>&#13; &#13; <p><strong>Finance and IP</strong><br />&#13; When research leads to new ideas and insights, <a href="https://www.enterprise.cam.ac.uk/">Cambridge Enterprise</a>, the ֱ̽’s technology transfer arm, helps staff and students find the best way to turn their ideas into reality for the benefit of the global community. Cambridge Enterprise provides IP protection when appropriate, helps individuals undertake consultancy for external organisations, protects and licences technologies, and invests seed funds in new companies.</p>&#13; &#13; <p>As a company grows, it will need additional financing, and Cambridge-based funders such as <a href="https://www.cambridgeinnovationcapital.com/">Cambridge Innovation Capital</a>, <a href="https://cambridgeangels.com/">Cambridge Angels</a>, <a href="https://www.amadeuscapital.com/">Amadeus Capital Partners</a>, <a href="https://www.cambridgecapitalgroup.co.uk/">Cambridge Capital Group</a>, <a href="https://iqcapital.vc/">IQ Capital</a> or the <a href="https://www.ipgroupplc.com/">IP Group</a>, can all provide support.</p>&#13; &#13; <p><strong>Physical space</strong><br />&#13; Organisations don't just need money: they also need space to grow. When entrepreneurs are first thinking of a business model, they can take a desk in <a href="https://ideaspace.cam.ac.uk/">ideaSpace</a>. We have three ideaSpaces across the ֱ̽ - each provides space for a community of entrepreneurs who can assist each other as they develop their ideas. If the organisation is successful and starts to grow, there are follow-on spaces around the city, such as <a href="https://stjohns.co.uk/">St John's innovation Centre</a> or the <a href="https://www.cambridgesciencepark.co.uk/company-directory/bradfield-centre/">Bradfield Centre</a>. ֱ̽<a href="https://www.babraham.ac.uk/">Babraham Research Campus</a> provides space for bio-medical firms - currently, there are 60 firms on the Babraham site, with a waiting list. Eventually, a growing organisation might move to the <a href="https://www.cambridgesciencepark.co.uk/">Cambridge Science Park</a>.</p>&#13; &#13; <p>Of course, there are other types of space that matter. <a href="https://web.makespace.org/">Makespace</a> provides a community workshop where people can create prototypes. ֱ̽local consultants, especially the technology consultants, provide prototyping and design support. <a href="https://www.cambridgeconsultants.com/">Cambridge Consultants</a> and <a href="https://www.ttp.com/"> ֱ̽Technology Partnership</a> both play a crucial role in the Cambridge ecosystem.</p>&#13; &#13; <p><strong>Skills and capability development</strong><br />&#13; Departments and groups across the ֱ̽ run programmes and initiatives to help entrepreneurs develop their organisations and their personal capabilities. Lectures and networking are provided by <a href="https://www.jbs.cam.ac.uk/entrepreneurship/programmes/enterprise-tuesday/">Enterprise Tuesday</a>, a scheme run by the <a href="https://www.jbs.cam.ac.uk/">Cambridge Judge Business School</a>. Cambridge Judge also runs <a href="https://www.jbs.cam.ac.uk/entrepreneurship/programmes/accelerate-cambridge/">Accelerate</a>, a start-up accelerator programme, and <a href="https://www.jbs.cam.ac.uk/entrepreneurship/programmes/ignite/">Ignite</a>, an intensive one-week training programme for aspiring entrepreneurs and corporate innovators to trial and prepare business ideas for the commercial environment.</p>&#13; &#13; <p> ֱ̽<a href="https://www.maxwell.cam.ac.uk/">Maxwell Centre</a> runs <a href="https://www.maxwell.cam.ac.uk/programmes/impulse">Impulse</a>, a programme designed to help entrepreneurs translate their ideas into reality. Increasingly, groups are seeking to run scale-up programmes, supporting businesses as they grow. Cambridge Judge runs a <a href="https://www.jbs.cam.ac.uk/executive-education/barclays/barclays-scale-up-uk-programme/">scale-up programme</a> in collaboration with Barclays, while Cambridge Network runs a <a href="https://www.cambridgenetwork.co.uk/learning/school-for-scale-ups/">school for scale-ups</a>.</p>&#13; &#13; <p><strong>Connected Cambridge</strong><br />&#13; ֱ̽final element is the multiple networks in Cambridge that bring people together. For example, <a href="https://www.cambridgewireless.co.uk/">Cambridge Wireless</a> connects people interested in the Internet of Things; <a href="https://www.cambridgenetwork.co.uk/home/">Cambridge Network</a> connects local businesses, and <a href="https://www.cambridgeahead.co.uk/">Cambridge Ahead</a> supports the long-term growth of Cambridge.  </p>&#13; &#13; <p>Of course, our students are a vital source of ideas, and student societies and associations - including <a href="https://www.cue.org.uk/">CUE - Cambridge ֱ̽ Entrepreneurs</a>, <a href="https://www.cutec.io/">CUTEC - Cambridge ֱ̽ Technology and Enterprise Club</a> and <a href="https://www.epoc.group.cam.ac.uk/">EPOC - Entrepreneurial Post-Docs of Cambridge</a> – bring our entrepreneurial students and postdocs together.</p>&#13; &#13; <p>These and other networks and initiatives all help bring the community together and support people as they seek to make the right connections. In Cambridge it is relatively easy to reach others - entrepreneurs, venture capitalists and academics - because of the interconnected nature of the city and the institutions it houses.</p>&#13; &#13; <p> ֱ̽entrepreneurial ecosystem works in Cambridge because it contains all five of these elements. But this isn’t the whole story. Cambridge is also successful because the people within the ecosystem are constantly innovating to improve it. Whenever somebody spots a gap - or a perceived gap - they try to fill it. We have a <a href="https://web.makespace.org/">Makespace</a> in Cambridge - a community workshop where people can make and repair things. Entrepreneurs use this to create prototypes for new products. Recently we launched a <a href="https://biomake.space/home">Biomakespace</a> - in recognition of the need for a bio-prototyping facility. ֱ̽Judge Business School runs a Social Venture Incubator, designed to help people grow social ventures, and partners with Cambridge Enterprise to support social ventures through a seed fund.</p>&#13; &#13; <p>Each of these new initiatives was launched to fill a perceived gap in the entrepreneurial ecosystem, and by filling this gap the ecosystem becomes stronger. This innovation in the ecosystem means that we are always trying to make the ecosystem in Cambridge better. We are constantly experimenting with the ways in which we work.</p>&#13; &#13; <p> ֱ̽cluster is now so well-established that the level of entrepreneurial activity in Cambridge has become self-propagating. ֱ̽fact that so many people are involved in enterprise, entrepreneurship and innovation encourages others to participate. This makes Cambridge “a safe place to fail” - a phrase coined by one of our local entrepreneurs, Andy Richards. ֱ̽level of activity means that even if your first venture fails, there will always be something else for you to go and try, so in essence, the entrepreneurial ecosystem provides a safety net for those who choose to get involved in it. This is what makes Cambridge such an interesting and welcoming place for enterprise.</p>&#13; </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>Andy Neely is Cambridge’s Pro-Vice-Chancellor for Enterprise and Business Relations, a role which oversees the ֱ̽’s activities in innovation, commercialisation and entrepreneurship. After six months in the role, he sees an entrepreneurial ecosystem that may appear complex at first – but a deeper examination reveals a combination of knowledge, expertise, support and infrastructure that makes Cambridge one of the most enterprising and entrepreneurial cities in the world. </p>&#13; </p></div></div></div><div class="field field-name-field-image-credit field-type-link-field field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/" target="_blank">Sir Cam</a></div></div></div><div class="field field-name-field-image-desctiprion field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Hauser Forum</div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="http://creativecommons.org/licenses/by/4.0/" rel="license"><img alt="Creative Commons License" src="https://i.creativecommons.org/l/by/4.0/88x31.png" style="border-width:0" /></a><br />&#13; ֱ̽text in this work is licensed under a <a href="http://creativecommons.org/licenses/by/4.0/" rel="license">Creative Commons Attribution 4.0 International License</a>. For image use please see separate credits above.</p>&#13; </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Mon, 13 Nov 2017 09:59:27 +0000 Anonymous 193052 at Cambridge start-up raises £40 million in funding to develop new cancer treatments /news/cambridge-start-up-raises-ps40-million-in-funding-to-develop-new-cancer-treatments <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/news/crop_9.jpg?itok=KFdWxFiO" alt="" title="Bicyclic peptides , Credit: Bicycle Therapeutics" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>Among the investors in the new funding round is Cambridge Innovation Capital, which invests in companies based on valuable intellectual property in the Cambridge Cluster, or with links to the ֱ̽ of Cambridge. ֱ̽ ֱ̽ is the largest investor in Cambridge Innovation Capital (CIC), which was founded by Cambridge Enterprise, the ֱ̽’s commercialisation arm, in 2013. </p> <p>Bicycle Therapeutics is developing a new class of drugs called ‘Bicycles’, which are based on small protein chains, or peptides, which have been chemically constrained, and have a similar shape to a bicycle wheel. They have been designed to combine the best features of small molecule and antibody based drugs. ֱ̽science behind the creation of Bicycles is based on work initiated at the MRC Laboratory of Molecular Biology by Professor Sir Greg Winter, a pioneer in monoclonal antibody development and the Master of Trinity College, working together with Professor Christian Heinis from the Ecole Polytechnique Fédérale de Lausanne.</p> <p>‘Bicycles’ have a range properties which make them an excellent choice as a potential drug. They have the binding capacity and specificity of an antibody, but can penetrate tissue such as solid tumours easily because of their relatively small size. In addition, due to their small size and peptidic nature, they are cleared from the body via the kidneys, allowing them to be designed in such a way as to maximise their efficiency while minimising the chance of any side effects.</p> <p>Bicycle Therapeutics’ most advanced potential product, known as BT1718, is the first example of its <em>Bicycle Drug Conjugate®</em> (BDC) technology, in which the Bicycle is targeted to bind specifically to malignant tumours and is harnessed to a chemical payload designed to destroy cancer cells once it reaches its target.</p> <p>BT1718 targets a cell surface protein called Membrane Type 1 Matrix Metalloproteinase (MT1-MTP). MT1-MTP occurs in high concentration in many solid malignant tumours. Consequently BT1718 may have the capacity to become a treatment for a range of cancers which currently do not have good treatment options such as ‘triple negative’ breast cancer and non-small cell lung cancer. It is expected to enter clinical trials in 2017 in partnership with Cancer Research UK.<br /> <br /> Bicycle Therapeutics is not the first start-up in which Professor Winter has been involved. Cambridge Antibody Therapeutics, the discoverers of rheumatoid arthritis drug Humira, and Domantis were both based on his work on therapeutic monoclonal antibodies. This work has enabled great improvements in the treatment of cancer and immune disorders and, as a result, many of the world’s blockbuster pharmaceutical drugs are based on the techniques he developed.<br /> <br /> “ ֱ̽pre-clinical studies to date show Bicycles have many of the attributes needed to be an effective medical treatment,” said Dr Michael Anstey, Investment Director at CIC. “ ֱ̽next big step is to take this into humans and if they show the same characteristics this will be very exciting. Bicycle Therapeutics is an ambitious company, with a world-class team, that has all the ingredients for another Cambridge success story.”</p> <p>“I am delighted that Bicycle Therapeutics has secured this new funding to enable the team to move multiple programmes into the clinic,” said Professor Winter. “Bicycles are different from both antibodies and small molecules, with some of the benefits of each, giving them the potential to deliver an exciting new class of therapeutics across different diseases.”<br /> <br /> “This financing represents an important validation of our approach, while providing Bicycle Therapeutics with the resources to continue to turn our bicyclic peptide technology into important new treatment options for patients,” said Dr Kevin Lee, Bicycle Therapeutics’ CEO. “We are grateful for the strong support from our investors as we move BT1718 rapidly towards the clinic and continue to advance our other preclinical programmes, that have the potential to treat cancer and other debilitating diseases.”</p> </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>Cambridge-based start-up company Bicycle Therapeutics has recently raised £40 million from a range of investors to bring its cancer drug candidates to clinical trials.</p> </p></div></div></div><div class="field field-name-field-content-quote field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even">Bicycle Therapeutics is an ambitious company, with a world-class team, that has all the ingredients for another Cambridge success story.</div></div></div><div class="field field-name-field-content-quote-name field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Michael Anstey</div></div></div><div class="field field-name-field-image-credit field-type-link-field field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/" target="_blank">Bicycle Therapeutics</a></div></div></div><div class="field field-name-field-image-desctiprion field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Bicyclic peptides </div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="http://creativecommons.org/licenses/by/4.0/" rel="license"><img alt="Creative Commons License" src="https://i.creativecommons.org/l/by/4.0/88x31.png" style="border-width:0" /></a><br /> ֱ̽text in this work is licensed under a <a href="http://creativecommons.org/licenses/by/4.0/" rel="license">Creative Commons Attribution 4.0 International License</a>. For image use please see separate credits above.</p> </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Fri, 16 Jun 2017 04:00:00 +0000 Anonymous 189632 at Cambridge spin-out raises £7 million to develop treatments for lung disease /research/news/cambridge-spin-out-raises-ps7-million-to-develop-treatments-for-lung-disease <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/research/news/crop_18.jpg?itok=SayXTypz" alt="" title=" ֱ̽crystal structure of a trimer of Z alpha-1-antitrypsin revealed the C-terminal domain-swap mechanism of polymerisation and the structural defect caused by the E342K mutation. , Credit: Jim Huntington" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> ֱ̽company, Z Factor Limited, was founded by Professor Jim Huntington of the Cambridge Institute for Medical Research. ֱ̽new funding has come from existing investor Medicxi, as well as Cambridge Innovation Capital and Cambridge Enterprise, the ֱ̽’s commercialisation arm.</p> <p>Z Factor is developing new treatments for Alpha-1-Antitrypsin Deficiency (AATD). AATD, which is a significant cause of liver and lung disease, results from a defect in the gene encoding Alpha-1-antitrypsin, a type of protein. Individuals with two defective copies of the gene, making up around 1 in 2000 of the Western population, typically develop emphysema starting in their 30s. They are also at an increased risk of developing liver diseases such as cirrhosis and cancer. Around 2% of people have one defective copy of this gene, and are at five-fold increased risk of developing Chronic Obstructive Pulmonary Disease (COPD) as they age.</p> <p> ֱ̽most common mutation causing AATD is called the Z mutation, which disrupts the normal folding of the protein. Professor Huntington and his team obtained the crystallographic structure of this mutant form of Alpha-1-antitrypsin, which allowed for the first time the rational design of drugs that could correct folding and prevent the development of associated diseases. These small-molecule drugs act like molecular ‘chaperones’ for the defective protein, accelerating folding to the correct state.</p> <p>Cambridge Enterprise helped in Z Factor’s formation in 2015, licensing key intellectual property to the company. ֱ̽company has already identified dozens of molecules that can correct the folding defect caused by the Z mutation, and shown that some of these drug candidates can increase Alpha-1-antitrypsin levels in an <em>in vivo</em> model of AATD.</p> <p>Z Factor is now working to select the best molecules for use as a drug in human trials. ֱ̽company expects to reach the clinic with its lead candidate in 2019.</p> <p>“We are delighted to work once again with Cambridge Enterprise to ensure this exciting basic science is rapidly and efficiently translated into new medicines for a surprisingly common and debilitating cause of liver and lung disease,” said David Grainger, Partner at Medicxi and Executive Chairman at Z Factor.</p> <p>Following closely on the announcement of investments in ApcinteX and SuperX earlier this year, the Z Factor Series A brings the total raised during 2017 by companies founded by Professor Huntington, one of Cambridge’s most successful serial entrepreneurs, to almost £30 million. “Jim is a leading academic innovator and Z Factor is dedicated to developing a therapy that will address a serious unmet medical need,” said Christine Martin from Cambridge Enterprise, and a Director at Z Factor.</p> </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>A ֱ̽ of Cambridge spin-out company has raised £7 million in new funding, which will help in the development of treatments for liver and lung disease. </p> </p></div></div></div><div class="field field-name-field-image-credit field-type-link-field field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/" target="_blank">Jim Huntington</a></div></div></div><div class="field field-name-field-image-desctiprion field-type-text field-label-hidden"><div class="field-items"><div class="field-item even"> ֱ̽crystal structure of a trimer of Z alpha-1-antitrypsin revealed the C-terminal domain-swap mechanism of polymerisation and the structural defect caused by the E342K mutation. </div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="http://creativecommons.org/licenses/by/4.0/" rel="license"><img alt="Creative Commons License" src="https://i.creativecommons.org/l/by/4.0/88x31.png" style="border-width:0" /></a><br /> ֱ̽text in this work is licensed under a <a href="http://creativecommons.org/licenses/by/4.0/" rel="license">Creative Commons Attribution 4.0 International License</a>. For image use please see separate credits above.</p> </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Thu, 04 May 2017 15:57:10 +0000 sc604 188062 at £50 million of new funding to support Cambridge companies /news/ps50-million-of-new-funding-to-support-cambridge-companies <div class="field field-name-field-news-image field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img class="cam-scale-with-grid" src="/sites/default/files/styles/content-580x288/public/news/news/news/hf-for-uc.png?itok=z9AaaE9Z" alt="" title="Hauser Forum, Credit: ֱ̽ of Cambridge" /></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p>Cambridge Innovation Capital (CIC) has been established, with support from the ֱ̽ of Cambridge, to provide long-term finance that will help companies bridge the critical middle stage of commercial development, the so-called ‘valley of death.’</p> <p>CIC will invest in a broad range of companies at different stages in their development, using a long term return strategy - removing the pressure to deliver the early exits associated with the traditional venture capital model. ֱ̽initial funding will be invested over three years.</p> <p>“ ֱ̽ ֱ̽ benefits society through the pursuit, dissemination, and application of knowledge. Today we are furthering that mission by partnering with experienced investors, innovators and managers to help the early stage technology companies of today become the great businesses of tomorrow,” said Professor Sir Leszek Borysiewicz, the ֱ̽’s Vice-Chancellor. “With the launch of CIC, the ֱ̽ and our co-investors are taking an important step in supporting the continued economic growth of the region and the country.”</p> <p> ֱ̽lead investors in the fund are Invesco Perpetual and Lansdowne Partners, with further capital provided by a number of investors including the ֱ̽ of Cambridge Endowment Fund, ARM Holdings and IP Group. In addition to the capital that it is investing, the ֱ̽ will support CIC through Cambridge Enterprise, its commercialisation arm.</p> <p>“Many good companies have to spend too much time fundraising, leaving them with less time to focus on running their business,” said Edward Benthall, CIC’s Non-Executive Chairman. “CIC will work with angel and other long term investors to bring innovative technologies to market and help build world-class businesses.”</p> <p>Cambridge is one of the most dynamic technology clusters in the world, with 54,000 people employed by over 1,500 high-tech companies, a dozen of which have achieved a valuation of over $1 billion. These companies operate across a wide range of fields, from life sciences, to engineering, computer science and the humanities, reflecting the breadth of research carried out at the ֱ̽.</p> <p>CIC’s management team is led by Peter Keen, a leading entrepreneur and co-founder of Merlin Biosciences. ֱ̽board of CIC is led by Edward Benthall, a former partner at Charterhouse Capital Partners; and includes Mike Muller, Chief Technology Officer of ARM and Cambridge Enterprise Chief Executive, Tony Raven.</p> <p>CIC will also benefit from the advice of a world-class academic and business panel which includes Hermann Hauser, Warren East, Sir Greg Winter, Professor Sir Richard Friend and Jonathan Milner.</p> </div></div></div><div class="field field-name-field-content-summary field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p><p>A new £50 million investment business has been launched to support the development of ֱ̽ spin-outs and other early-stage technology companies in the Cambridge Cluster.</p> </p></div></div></div><div class="field field-name-field-content-quote field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even">With the launch of CIC, the ֱ̽ and our co-investors are taking an important step in supporting the continued economic growth of the region and the country.</div></div></div><div class="field field-name-field-content-quote-name field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Professor Sir Leszek Borysiewicz</div></div></div><div class="field field-name-field-image-credit field-type-link-field field-label-hidden"><div class="field-items"><div class="field-item even"><a href="/" target="_blank"> ֱ̽ of Cambridge</a></div></div></div><div class="field field-name-field-image-desctiprion field-type-text field-label-hidden"><div class="field-items"><div class="field-item even">Hauser Forum</div></div></div><div class="field field-name-field-cc-attribute-text field-type-text-long field-label-hidden"><div class="field-items"><div class="field-item even"><p><a href="http://creativecommons.org/licenses/by-nc-sa/3.0/"><img alt="" src="/sites/www.cam.ac.uk/files/80x15.png" style="width: 80px; height: 15px;" /></a></p> <p>This work is licensed under a <a href="http://creativecommons.org/licenses/by-nc-sa/3.0/">Creative Commons Licence</a>. If you use this content on your site please link back to this page.</p> </div></div></div><div class="field field-name-field-show-cc-text field-type-list-boolean field-label-hidden"><div class="field-items"><div class="field-item even">Yes</div></div></div> Thu, 10 Oct 2013 09:46:18 +0000 sc604 105342 at