Written by: Lucy Ahern
Edited by: Caroline Babisz & Natasha Barrow
Cancer survival rates have doubled in the last 50 years [1]. This is thanks to groundbreaking research contributing to earlier diagnoses and better treatments for patients. Cancer Research UK (CRUK) is at the forefront of this: funding nearly £400 million in research every year [2]. However, with 1 in 2 people in the UK facing a cancer diagnosis in their lifetime, the continued need for research and innovation has never been greater.
“8 out of 10 cancer patients in the UK are treated with drugs related to CRUK-backed research”
Cancer Research Horizons is the commercial arm of CRUK, translating cutting-edge cancer research into impactful therapies, diagnostics and innovations. Cancer Research Horizons has supported the creation of over 80 start-ups. In June 2022, the Seed Fund was launched to catalyse growth at the critical early stage. £8m seed funding has been committed to date.
I spoke to Katie Sloan, an investment manager in Cancer Research Horizons’ Ventures team, to get her insights. For Katie, a compelling cancer innovation is more than just advanced technology, it’s about finding solutions that deliver meaningful benefits for patients. The Ventures team focus on high-risk, early-stage oncology ventures, from concept to series A, including therapeutics, diagnostics, medical technology and digital health solutions, looking for innovations with a clear path to improving patient outcomes.
“This is the golden age of technological advances”
Katie emphasised that successful teams often have a balance of technical expertise and commercial insight. A standout team knows its strengths and understands where it needs additional skills, ensuring a strong approach from science to strategy. She advises founders that the Seed Fund is focused on projects that address significant unmet needs in cancer care. Cancer Research Horizons looks for ventures that provide disruptive advancements, from innovative medtech devices to therapeutics that tackle difficult to treat cancers such as lung, brain, pancreatic and oesophageal cancer.
Katie notes that novel payloads for antibody drug conjugates are still a big area of growth and interest; Myricx Bio, a portfolio company, being a fantastic example. Moreover, she explains that whilst AI can be transformative, technology for the sake of buzzwords isn’t enough, it must have genuine benefit to improving research.
Katie highlighted an exciting new investment from Cancer Research Horizons Ventures which has recently emerged from stealth: Trogenix. This innovative company has developed a novel gene therapy platform, Odysseus, delivered by adenoviral vectors to manipulate cancer cells into becoming recognisable to the immune system in a ‘Trojan horse’ style attack. Central to Trogenix’s approach are Synthetic Super-Enhancers (SSEs) – engineered DNA elements that bind transcription factors very strongly to promote high levels of gene expression [3]. These SSEs bind specifically to transcription factors found in aggressive cancers and activate cytotoxic responses that trigger an immune response to the cancer cell. In this way, Trogenix’s technology elicits a targeted and controlled killing of the cancer.
Trogenix’s lead programme is in glioblastoma (GBM), an aggressive cancer with an average survival time of 12-18 months [4]. The results from preclinical studies are promising, demonstrating curative responses with no toxicity and evidence of persistent anti-tumour immunity. Phase 1/2 clinical trials in GBM are planned for 2025, and the company is now also expanding its research to other difficult to treat cancers, such as lung and liver cancers.
Trogenix was founded by Professor Steve Pollard, Director of the CRUK Brain Cancer Centre of Excellence and Professor of Stem Cell and Cancer Biology at the University of Edinburgh, and by 4BIO Capital. In 2024, the company raised a £12.5M seed round from investors including 4BIO Capital, IQ Capital, Cancer Research Horizons, National Brain Tumour Society, AIN Ventures and Old College Capital.
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