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Innovation community news – January
Published on 24 January 2025
Image: ©Ensilica. All Rights Reserved.
News and announcements from Milton Park based companies:
- EnSilica secures £9 million in debt funding
- Immunocore advances trials for cancer therapies and appoints new Chief Financial Officer
- Physiomics secures new contract with Numab Therapeutics AG
- Recursion reports promising results for advanced cancer treatment
- Tokamak Energy board member receives knighthood for services to the economy and net zero.
EnSilica secures £9 million debt funding
EnSilica, a leading chipmaker, secured £9 million in debt funding from Lloyds Bank Group to support its ongoing growth. The funding includes a term loan, revolving credit facility and accordion facility, offering increased flexibility to manage working capital and capitalise on new business opportunities.
Kristoff Rademan, Chief Financial Officer at EnSilica, commented: “We are delighted to have secured a new debt financing package for the business, which strengthens our underlying finances.”
Immunocore appoints new CFO and advances trials
Travis Coy has been named as Executive Vice President, Chief Financial Officer and Head of Corporate Development, effective 1 January 2025. Previously a Non-Executive Director since 2019, Coy brings over 20 years of experience, including leadership roles at Eli Lilly in mergers and acquisitions and business development.
Bahija Jallal, Chief Executive Officer at Immunocore, commented: “I am delighted to welcome Travis to the Executive team, having served as a Non-Executive Director for five years, his deep knowledge of our company and science will be invaluable in his new role as we continue delivering on our mission to transform outcomes for patients.”
Immunocore has also begun trials for two innovative therapies, including the first immunotherapy to target PIWIL1, a protein associated with aggressive tumour growth and poor patient survival, in gastrointestinal cancers.
Dr. Mohammed Dar, Chief Medical Officer at Immunocore, commented: “PIWIL1 is expressed across all major subsets of colorectal cancer which has historically been insensitive to immunotherapy.”
Physiomics secures new contract
Physiomics plc, a leader in mathematical modelling and data science, has announced a new contract with long-standing client Numab Therapeutics AG. The project involves applying Pharmacokinetic-Pharmacodynamic (PK/PD) modelling*, with completion expected within six months.
* PK/PD modelling refers to an exploratory analysis driven by pharmacokinetics (PK) and pharmacodynamics (PD), grounded in a mathematical framework. These models facilitate a deeper understanding of the relationship between drug exposure (PK) and the corresponding response (PD), as well as how this relationship evolves with varying drug intake.
Dr. Peter Sargent, Chief Executive Officer at Physiomics, commented: “This collaboration highlights our growing ability to provide comprehensive support to our clients, addressing critical challenges and adding value at multiple stages of the drug development process.”
Recursion reports promising results for cancer treatment
Recursion, which recently merged with Exscientia, reports promising interim results for a new treatment for advanced solid tumours. The treatment demonstrated favourable pharmacokinetics (the movement of a drug into, through and out of the body), rapid absorption and significant target engagement.
A patient with platinum-resistant ovarian cancer achieved a partial response lasting over six months, while others experienced stable disease for up to six months. The treatment was well-tolerated with manageable side effects.
Dr. David Hallett, Chief Scientific Officer at Recursion, commented: “By inhibiting CDK7, we have the potential to target both mechanisms while fine-tuning the therapeutic index.”
Recursion plans further dose escalation and combination studies in 2025.
Tokamak Energy board member receives knighthood
Board member of Tokamak Energy, Warren East, was knighted in the King’s New Year Honours List for his contributions to the economy and net zero. Joining Tokamak Energy as Non-Executive Director in 2023, Warren expressed pride in the honour, crediting his work with dedicated teams at Rolls-Royce and Arm while continuing his focus on engineering, technology and the energy transition.
Image: ©Tokamak Energy. All Rights Reserved.
Warren East, Non-Executive Director at Tokamak Energy, commented: “I’m delighted to receive this honour and pleased to fly the flag for industry in the UK.
“I remain focused on engineering and technology, encouraging young people into STEM subjects and working with businesses enabling the energy transition and climate change mitigation, alongside fundamental technology and essential infrastructure.”
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