UK Innovation & Science Seed Fund, the UK government-backed fund dedicated to kick-starting promising technology companies with a focus on engineering biology, has appointed Dr Mike Romanos as consultant venture partner.
Mike will be supporting UKI2S in its investment decisions and providing general advice and strategic guidance to portfolio companies to help maximise their potential.
Mike brings an exceptional breadth and depth of experience in drug development, technology and commercialisation gained over many years in the biotech, pharma and academic sectors. Most recently as CEO he built the BBSRC spin-out Crescendo Biologics Ltd into a leading antibody fragment platform and development company. Previously he held senior global positions in GlaxoSmithKline R&D where he had significant impact on strategy, technology and pipeline across therapeutic areas and modalities.
UK Innovation & Science Seed Fund investment manager Oliver Sexton said: “We are delighted to have someone of Mike’s calibre working with us. His outstanding scientific and commercial background will be invaluable in informing our investment decisions and in helping our portfolio companies succeed.”
The UK Innovation & Science Seed Fund is managed by Midven, a privately owned commercial fund manager with a successful track record of investing in small and medium-sized enterprises. It has offices in Birmingham, Nottingham and Oxford.
Mike said: “UK Innovation & Science Seed Fund has an important role in the UK biotech ecosystem to catalyse the early stages of commercialisation by helping to bring forward new companies into the sector. I very much valued their contribution in building Crescendo Biologics and am now delighted to be able to help UKI2S in their important mission.”
About UK Innovation & Science Seed Fund
The UK Innovation & Science Seed Fund is a £24m, early-stage venture capital fund dedicated to kick-starting promising technology companies developed at some of the UK’s largest publicly-funded research facilities, in the rapidly expanding science and technology campuses linked to them and in the field of engineering biology. Created in 2002, the UK Innovation & Science Seed Fund is backed by 10 UK publicly-funded research organisations and the Department of Business, Innovation and Skills (BIS). The Fund, whose portfolio comprises 31 companies, holds investments in some of the UK’s most innovative companies in areas as diverse as novel antibiotics, research into Alzheimer’s disease, “green” chemicals and airport security. The Fund’s impact in over the past decade has been recently validated by independent research showing the Fund has leveraged over £150 million of private investment from just £7 million of its own investment and helped create 172 high value technology-related jobs.
The UK Innovation & Science Seed Fund is managed by Midven, a privately owned commercial fund manager with a successful track record of investing in small and medium-sized enterprises. It has offices in Birmingham, Nottingham and Oxford.
For more information, please visit http:// http://www.ukinnovationscienceseedfund.co.uk/ or follow @UKI2Son Twitter.
About Midven
Midven is the leading Midlands-based provider of venture capital funding to early stage and established businesses. The Birmingham-based venture capital firm currently manages five funds representing a total of £76m under management. The funds have invested in a wide variety of sectors including software, biotechnology, healthcare, engineering, manufacturing and distribution. The Midven team has an established reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes.
Midven’s now £10m Early Advantage fund provides investment, alongside business angels and other private sector investors for small, high growth businesses at start-up and early-stage in the West Midlands. The fund can make an initial investment of up to £125,000 if matched by private money and can invest up to a further £375,000 in subsequent rounds. The investment team will actively work with companies seeking investment to source the necessary private sector match funding. The £10m fund was created through investment from the Department of Business Innovation and Skills and grants from the European Regional Development Fund.
For more information, please visit www.midven.co.uk or follow @Midven on Twitter.