A #3m commitment for drug development company, Iceni.

Investee Company – Iceni BioDiscovery Ltd (UK)

Investee Company Business Type – Cell Therapy Company

Type of Financing – Development Capital

Equity Providers – Prelude Trust, Avlar BioVentures, Novartis Venture Fund

Equity Leader (Individual) – Dr Robert James (Prelude), Mr David Gough (Avlar)Debt Providers – No Debt Provided

Debt Type – N/A

Debt Leader (Individual) – N/A

Equity Amount – £3 million (Euro4.9 million)

Total Deal Value – £3 million (euro4.9 million)

Other Advisors – No Advisors Announced

Comments – Iceni BioDiscovery (Iceni) has established a technology base in order to develop new methods to find a way of coping with diabetes. The Company is developing a new way to treat insulin-dependant diabetes by producing human cells in the laboratory for transplantation.

Dr James of Prelude said: “There is a massive need to find new ways to treat diabetes and clinical evidence that transplantation offers a potential cure. This funding round will enable Iceni to develop its technology further and we are excited about the future of this company.”

Following the invstment, the company is looking to expand and develop its technology. Gough of Avlar said: “Iceni is an exceptional find in that it is a start-up company which combines leading edge technology, an established management and scientific team and excellent facilities.”