PredictImmune Secures £10 Million Series B Funding to Launch PredictSURE IBD™, the First CE-Marked Prognostic Test for Inflammatory Bowel Disease

On July 30, 2019, VCBeat (WeChat ID: vcbeat) learned that PredictImmune had completed a £10 million Series B financing round, with investment from Parkwalk Advisors, University of Cambridge Enterprise, Business Growth Fund, and Cambridge Innovation Capital.

It is reported that in May 2017, PredictImmune completed a £4.7 million Series A financing round, led by Parkwalk Advisors, with participation from University of Cambridge Enterprise and Wren Capital.

Following this round of financing, PredictImmune will launch its first product, PredictSURE IBD™, and promote it in markets including the United States and Europe. In addition, the company will further develop diagnostic tools for immune-mediated diseases such as systemic lupus erythematosus (SLE).

PredictImmune, founded in 2017 and headquartered in Cambridge, UK, is dedicated to developing a suite of biomarker testing tools to guide physicians in treating patients with immune-mediated diseases. Its flagship product, PredictSURE IBD™, is the world’s first CE-marked prognostic test for inflammatory bowel disease (IBD). Combining advanced proprietary algorithms with ease of use, it requires only a small blood sample from users aged 16 and older to generate an online report. This enables clinicians to gain deeper insights into patients’ conditions, thereby facilitating earlier implementation of appropriate therapeutic interventions during the course of treatment.

Paul Kinnon, CEO of PredictImmune, stated, “This is an exciting time. This investment enables us to maintain our momentum and continue expanding our product portfolio. We are honored by the trust placed in us by our investors and welcome new investors. As a team, we are highly satisfied with our current progress and strongly motivated to achieve our future goals.”

Alastair Kilgour, Co-founder and Partner at Parkwalk Advisors, commented: “Parkwalk is delighted to continue supporting PredictImmune’s groundbreaking technology, which accurately predicts IBD and enables clinicians to make the right clinical decisions earlier. The PredictImmune team has done an outstanding job in developing this technology, and we look forward to seeing its broader adoption, benefiting more patients.”

Tim Rea of the Business Growth Fund commented, “As investors in the diagnostics sector, we are delighted to support PredictImmune. PredictSURE IBD™ is the culmination of ten years of work by a highly dedicated research team and will significantly improve the lives of patients with inflammatory bowel disease (IBD).”

Michael Anstey, Partner at Cambridge Innovation Capital, commented, “We are delighted to collaborate with our colleagues at Cambridge Enterprise to jointly support one of Cambridge’s most promising companies. PredictImmune is at the forefront of personalized medicine, offering improved treatment options for patients with immune-mediated diseases. We look forward to their lead product, PredictSURE IBD™, whose test results enable clinicians to select the appropriate treatment regimen for IBD patients, thereby avoiding the trial-and-error approach often seen in the course of therapy.”

Parkwalk Advisors, founded in 2009 and headquartered in London, primarily invests in technology startups. In addition to providing financial support, Parkwalk also assists entrepreneurs in managing their companies.

University of Cambridge Enterprise, also known as Cambridge Enterprise Seed Funds. Comprising the Challenge Fund and the Venture Fund, it was established in 2006 as a wholly-owned subsidiary of the University of Cambridge, dedicated to supporting entrepreneurs, experts, and business founders from the University.

Business Growth Fund was established in 2011, focusing on investing in growth-stage companies.

Cambridge Innovation Capital was established in 2013, primarily supporting rapidly growing intellectual property companies within the Cambridge Cluster.

Wren Capital, established in 2011, focuses on investing in startups in the fields of science, engineering, and software.

(Compiled by Hu Yifan)