British Business Bank Unveils £150M Investment Fund

The British Business Bank has unveiled a groundbreaking £150 million investment fund for Scottish entrepreneurs, offering significant financial boost to empower and elevate small businesses. The fund provides loans ranging from £25,000 to £2 million and equity investments of up to £5 million, facilitating the growth of these small and medium-sized enterprises, whether they are just starting or scaling up.

Elasmogen, which is part of the  Deepbridge Life Sciences EIS  fund, is already benefiting from the British Business Bank's support during an EIS funding round facilitated by Deepbridge Capital.

Dr Caroline Barelle, Chief Executive Officer at Elasmogen said:

“As a therapeutic drug discovery company, investment is crucial for us to convert our technology into medicines for patients. At Elasmogen, we are developing antibody-like molecules (soloMERs) for autoimmune disease and cancer. The investment from the Bank enabled us to progress our targeted soloMER-chemotherapy program into patient-derived studies of triple negative breast cancer, demonstrating rapid tumour reduction and regression. We have since progressed and expanded this program into a pipeline of first-in-class chemotherapy conjugated drugs, not only validating our soloMER technology but bringing us closer towards the clinic.”