Incanthera has become the first company to benefit from IW Capital’s £100m Race to Scale initiative, which provides debt and equity finance to help support established businesses across the UK.
The finance is available exclusively to established small to mid-sized enterprises that are proven in concept and require capital to scale, as opposed to start-up funding.
Committed to the development of pioneering technologies that target solid tumours, Incanthera exists to bridge the funding gap that often inhibits ground-breaking research from translating into a commercially viable product and progressing into a cure for serious diseases.
Incanthera CEO Simon Ward said: “We are thrilled and very grateful to receive the support and investment given through the Race to Scale project.
“It is often very difficult for investors other than institutions and traditional venture capital to support small, drug discovery and development companies and Race to Scale allows for this opportunity.
“The fight against cancer is a long and difficult war and will involve us all. We wish the IW Capital – led initiative every success.”
In addition to the Race to Scale funding pledge, Incanthera is also fundraising to support a clinical trial for a groundbreaking drug, dubbed a ‘smart bomb’.