Concinnity: Edinburgh Health Tech Raises £3m for Gene Therapy Innovation
Deal News | Dec 16, 2024 | UK Tech Funding
Concinnity Genetics, an Edinburgh-based health tech spinout, has successfully closed an oversubscribed funding round, raising £3 million. Founded in 2023, the company is pioneering novel gene therapies by incorporating control mechanisms designed to enhance the safety and effectiveness of these treatments. Concinnity aims to partner with other gene control projects to make significant advancements in gene and cell therapies. The funding round was led by Eos Advisory, complemented by investment support from Scottish Enterprise, Old College Capital, and Maven Capital Partners. The technology developed by Concinnity integrates synthetic biology and AI-machine learning, heralded as transformative for emerging gene therapies. The backing from renowned investors signifies confidence in Concinnity's potential to address a significant unmet need in the domain of gene therapy. Dr. Andrea Taylor from Edinburgh Innovations highlighted the university's strength in engineering biology, further emphasizing the transformative potential of sophisticated gene control systems.
Sectors
- Health Technology
- Biotechnology
- Venture Capital
Geography
- United Kingdom – Concinnity Genetics is based in Edinburgh, Scotland, and the funding was led by Scottish investors, situating the activities within the UK.
- Scotland – The investors and companies involved, including Eos Advisory and Scottish Enterprise, are based in Scotland, emphasizing the regional focus.
Industry
- Health Technology – The focus on gene therapies and advanced therapeutics categorizes Concinnity Genetics within the health tech industry.
- Biotechnology – Concinnity's development of gene therapies with innovative control mechanisms situates it within the biotech sector.
- Venture Capital – The participation of various venture investment funds in the funding round highlights the role of venture capital in supporting emerging biotech startups.
Financials
- £3,000,000 – The total amount raised by Concinnity Genetics in the recent funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Concinnity Genetics | Target Company | Company | An Edinburgh-based health tech spinout focusing on developing controlled gene therapies. |
| Eos Advisory | Lead Investor | Company | A Scottish investment firm leading the funding round for Concinnity Genetics. |
| Scottish Enterprise | Investor | Government | A national economic development agency that provided additional funding support. |
| Old College Capital | Investor | Investment Fund | The University of Edinburgh's venture investment fund participating in the funding round. |
| Maven Capital Partners | Investor | Company | An investment firm contributing to Concinnity Genetics' funding. |
| Jessica Birt | CEO and Co-founder | Person | CEO and co-founder of Concinnity Genetics, leading the company’s vision and strategy. |
| Andrew McNeill | Managing Partner | Person | Managing partner at Eos Advisory, commenting on the investment in Concinnity Genetics. |
| Dr. Andrea Taylor | CEO, Edinburgh Innovations | Person | CEO of Edinburgh Innovations, supporting the commercialization of university research. |