By Alicia Gailliez, Business Development Manager, One Nucleus

The inaugural Boston Bootcamp is an exciting new initiative designed by One Nucleus to enhance the connectivity between the One Nucleus ecosystem and the Greater Boston Cluster by supporting a select group of winning members to visit the US for an immersive week. Whilst furthering their own direct understanding and business development, the group will also bring back key learnings to share with the wider network, not least through their panel session at ON Helix in July. A mechanism to enable emerging UK companies to be more ‘Massachusetts ready’ and build an effective bridge to encourage US companies and investors to look at the UK. The competition attracted a breadth of innovative R&D drug discovery and platform technology companies, selected by a panel of UK and MA-based judges who will embark on the journey of discovery in April 2024, meeting leading experts on doing business in the MA cluster. Key roundtable sessions relating to ecosystem introductions, operational strategies, raising investment, and R&D collaborations will be delivered in collaboration with supporters including MassBio, Mass Life Science Centre, BioMed Realty, Gunderson Dettmer and Wolf Greenfield. Development of the programme sessions refining the questions that need answering has been supported by Cushman & Wakefield, Mewburn Ellis, CK Group, Taylor Wessing, and RSM.

Boston is recognised as one of the most productive and influential life science clusters. Statistics from the MassBio 2023 Biopharma Funding and Pipeline Report show that Massachusetts-headquartered biopharma companies received 31% of all VC dollars invested in the industry in 2023. In addition, the drug pipelines of MA-headquartered companies make up 14.9% of the US pipeline and 6.4% of the global pipeline as of December 18, 2023. Data from the BIA Financing Report 2023 shows that when you get to series A and B raises for UK Biotech, US investors make up about a third of the investment being raised, illustrating what many have thought for a long time: that UK companies need to look to an internationally, particularly US venture investor base.

The 2024 winning cohort

Congratulations to…

 

 

 

 

 

 

Carocell Bio is developing novel anti-inflammatory peptides to treat serious inflammatory diseases more safely. The lead peptide (JEL3108) is being developed for atopic dermatitis (AD, eczema). It is believed that continued treatment would also delay ageing of the skin. To date, Carocell Bio has raised £1.5 million, including an Innovate UK grant and Seed investment from Deepbridge Capital.

Enhanc3D Genomics has established a genome-wide 3D-sequencing platform (GenLink3DTM). The platform uses capture Hi-C technologies to profile 3D genome folding at high resolution for all genes and their enhancers simultaneously. This links gene enhancers and non-coding genetic variants to their target genes, unlocking their potential for therapeutic discovery. Enhanc3D Genomics was part of the Start Codon accelerator and has secured £1.5 million seed funding from Bioqube Ventures, participated in the J&J 'Quickfire Challenge', and raised £10 million in Series A funding in 2022, with BGF and Parkwalk Advisors leading the round.

Ikarovec is a pioneering gene therapy company headquartered at the Norwich Research Park Innovation Centre. The company's programmes are aimed at treating common eye diseases such as age-related macular degeneration (AMD), diabetic macular edema (DME) and ocular hypertension; restoring sight, and preventing blindness. To date, Ikarovec has received seed equity investment from LifeArc, ParkWalk Advisors, and the UK Innovation and Science Seed Fund, along with a non-dilutive Innovate UK grant totaling £3.0 million.

STORM Therapeutics is a clinical stage biotechnology company creating novel therapies that inhibit RNA modifying enzymes (RME) for use in oncology and other diseases. In a span of six years, STORM has secured significant funding rounds: £12 million Series A in 2016 from Cambridge Innovation Capital, Merck Ventures, Pfizer Venture Investments, and Touchstone Innovations; £4 million in 2018 from Taiho Ventures; £14 million in 2019 from Seroba Life Sciences; and a $30 million Series B financing in 2022 co-led by existing investors, with new investment from Fast Track Initiative and the UTokyo Innovation Platform Company.

The winners of the Bootcamp pictured at the inaugural One Nucleus Awards which took place on 21 March at No. 11 Cavendish Square, London. Pictured left to right: Andrew Osborne, Ikarovec; Mike Davies, Carocell Bio; Hazel Jones, Enhanc3D Genomics and Matthew Fyfe, STORM Therapeutics Ltd. Photograph taken by Alicia Gailliez, One Nucleus.

Filling the Knowledge Gaps

The topics to be interrogated in Boston will include:

IP Strategy & Ownership

• Patent coverage across different territories
• Understanding criteria for patent eligibility and differences in regulations between the US and the UK
• Developing a comprehensive patent strategy, including coverage across patent families
• Exploring alternative protective measures like trade secrets and know-how
• Conducting an analysis of freedom to operate, considering potential third-party patent filings and existing patents
• Addressing IP ownership in collaborative engagements with various stakeholders.

Finding and Securing the Right Space

• Assessing the business factors behind expansion into the US and the corresponding real estate requirements
• Exploring opportunities for acquiring discounted spaces with existing fit-outs or equipment
• Availability of incubator spaces within the Boston region.

Building the Right Team

• Understanding the characteristics of a C-suite anticipated by US investors
• Making the right connections to recruit top talent in the US market, specifically looking at the Boston area
• Navigating the differences in the recruitment and retention landscape in the US
• Developing a defined ‘people plan’ for business forecasting
• Ensuring a clear and transparent communication strategy to attract and retain the best team.

Term Sheets/Deal Structure

• Understanding the similarities and differences in investment strategies, documentation, and due diligence between UK and US investors
• Appreciating the culture of US vs UK investors
• Methods to influence the ability to further raise VC investment, e.g., setting up a US-based subsidiary
• Looking at potential impacts on operational frameworks and strategies for growth.

Staying Compliant

• The importance of having financial information to hand for investors and meeting requirements at the different stages of a business’ life cycle
• Understanding the ‘building blocks’ of investment readiness and the key areas investors want to feel confident about
• Required auditing and reporting procedures.

 

The benefits of the programme will flow to the wider ecosystem through the dissemination of key learnings post trip. This will include at ON Helix 2024, where the winners will participate in a panel during the closing session, ‘Translational Research in a Global Village’. ON Helix will take place on 4 July at Babraham Research Campus. Keynote talks and panel discussions will be combined with networking and exhibition. Don’t miss this chance to meet with our Boston Bootcamp winners and the other 250 delegates by registering today!

One Nucleus would like to extend our sincere appreciation to the sponsors of the Boston Bootcamp: