New Funding Announced For Life Sciences In Kent
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A venture capital fund has announced that it will provide £50 million of funding to support the life sciences industry in Kent.
City AM reported on the fund which is being launched by NCL Technology Ventures and that has the backing of Kent County Council. Its focus will be on small and medium-sized enterprises operating in the areas of medical technology and advanced therapeutics.
The money will be made available to high-growth SMEs, the news provider added. This is the second Kent Life Sciences Fund set up by NCL, and the hope is that the money will attract companies to the UK that are looking to establish a base in the country with the possibility of global expansion.
Investment director at NCL Jonathan Synett said that boosting sectors like life sciences is vital ahead of Brexit. He added that the UK is “at the forefront of a radical change in new medical technologies and therapeutics”.
“We’re looking to invest in start-ups and SMEs so they can scale up and reach the NHS and other markets with their cutting-edge innovations,” he told the news provider
NCL’s first fund invested in eight small firms, all of which have space in its Discovery Park. Any new companies that receive money under the new scheme will also be offered space here.
The UK, and London in particular, has been strong when it comes to raising funding for life sciences ventures in recent years. Earlier this month, Medcity revealed that London raised more funding in this sector than any other capital city in Europe in 2017, Laboratory Talk reported.
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