Cumulus Oncology Raises £9M in Seed Financing
Summary
The company intends to use the funds to execute growth plans, expand its portfolio, and accelerate the development of new cancer treatments from discovery towards clinical Proof of Concept. Led by Clare Wareing, Founder and Chief Executive Officer, Cumulus sources novel oncology assets from academic institutes, commercial drug discovery groups and biopharmaceutical companies. Its scientific and commercial team members identify novel targets for drug discovery programs which the company funds, supports and collaborates on. Following due diligence and market assessment activities, negotiations on deal terms and in-depth feasibility on the investment case, selected assets are spun out into newly created companies. The company incorporates the use of artificial intelligence (AI) and machine learning (ML) platforms into its decision making process to prioritise targets and assets.