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£10m life sciences spend planned by St Andrews investment house

Investment firm Eos Advisory's partners in St Andrews. Mark Beaumont, Kevin Grainger, Rick Clark, Chris Brinsmead, Ana Stewart and Andrew McNeill.. St Andrews.
Investment firm Eos Advisory's partners in St Andrews. Mark Beaumont, Kevin Grainger, Rick Clark, Chris Brinsmead, Ana Stewart and Andrew McNeill.. St Andrews.

St Andrews-based Eos Advisory is looking for life sciences investments after entered into a partnership with a US-based counterpart.

The Fife investment house and Kineticos Life Sciences will co-invest in early stage Scottish life sciences companies.

The venture partnership aims to invest over £10 million over the next five years in oncology-focused life sciences ventures founded in Scotland.

As part of the deal, Eos will engage with Scottish Enterprise and a range of other private and public investors to leverage its co-investments.

Funding for breakthrough ideas

Kevin Grainger, founder and chairman of Eos Advisory, said: “This will help find and fund break-through ideas from Scotland’s brightest life science entrepreneurs.

“In addition to the £10m Eos and Kineticos have committed, we will leverage additional equity capital from private, institutional and public sources to maximise the impact of these nascent oncology businesses.

“This funding, along with the commercial expertise of the Eos and Kineticos teams, will accelerate high skill research and development job creation in Scotland and subsequent commercial opportunities in the US which we hope will have a significant impact on improving the early diagnosis and treatment of cancer globally.”

In July Eos Advisory has led an investment round into Europe’s first oncology drug discovery accelerator.

The £1.7m funding round into Edinburgh-based Cumulus Oncology represents one of the Fife firm’s largest deals to date.

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