Nemesis Bioscience raises £700,000

15 May 2017

Petri Dish

A Cardiff Medicentre-based company has secured £700,000 in seed funding to develop anti-microbial therapies.

Nemesis Bioscience raised the money through Finance Wales, The Rainbow Seed Fund and Dr Mark McCamish.

The company is developing products designed to resurrect anti-microbial therapies made ineffective by increasing microbial resistance.

Proceeds will be used by the company to validate its suite of Bacterial Cybergenetics© technologies.

“We are looking forward to completing our early in vivo programmes, which we are confident will demonstrate the clinical potential of our technologies to contribute to the management of the global antimicrobial resistance crisis.”

Dr Frank Massam, CEO, Nemesis Bioscience

Nemesis is housed at the Medicentre – a business incubator for biotech and medtech start-ups jointly run by Cardiff University and Cardiff and Vale University Health Board.

Phil Barnes, who led the investment for Finance Wales, said: "Nemesis is an exciting portfolio company that has benefited from both Finance Wales' technology seed funding and follow-on investment from our main technology venture funds. Having a high calibre co-investor such as the Rainbow Seed Fund brings great sector experience and additional development capital to the company."

Rainbow's investment director Oliver Sexton added: "Nemesis has world-leading technology. Its platform has been shown to return vulnerability to antibiotics in clinical isolates..."

"With this funding, Nemesis can take the programme closer to the clinic and revolutionise the race to beat antibiotic resistance."

Oliver Sexton, Rainbow Seed Fund

Nemesis believes the answer to the problem of anti-microbial resistance (AMR) is to switch off resistance mechanisms. Nemesis’ agents do not kill bacteria directly. They resurrect antibiotic susceptibility – eliminating the threat of ‘super bugs’ and ensuring current antibiotics retain efficacy over the long-term.

Nemesis Bioscience, based in Cambridge and Cardiff, was founded in March 2014 by Dr Frank Massam, Professor Conrad Lichtenstein and Dr Gi Mikawa.

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