We are pleased to announce that the University of Cambridge Enterprise Fund III, managed by Parkwalk, and Parkwalk funds have made an investment in NeoPhore, a PhoreMost Ltd spinout, alongside the Cancer Research Technology Pioneer Fund and the University of Cambridge. NeoPhore’s mission is to develop novel small molecule therapies to treat cancer by stimulating the immune system.
NeoPhore is the first product oriented company to be created by Parkwalk portfolio company PhoreMost, which has developed a next-generation phenotypic screening platform called ‘SiteSeeker’ to identify the best new targets for future therapy, and crucially, how to drug them. NeoPhore will be granted a license by Phoremost to the latter’s IP against certain cancer immunotherapy related drug targets.
Phoremost contributed its IP and the Cancer Research Technology Pioneer Fund, managed by Sixth Element Capital, put in the majority of the capital for this investment. Based on their current shareholding, PhoreMost shareholders were offered rights to subscribe for shares in NeoPhore. We are hopeful that Phoremost will create other companies, with licences for different drug targets, which will also benefit Phoremost shareholders.