Investment & Fund Management
M CRT Pioneer
Full Credential Description
EIF and Cancer Research Technology (CRT) have collaborated to establish the £50M CRT Pioneer Fund, aimed at addressing a significant funding gap in the UK for cancer drug development. This gap has emerged due to a decline in early-stage investment from the industry, which has traditionally supported the transition of innovative cancer research from academia to clinical trials. The fund is designed to facilitate the progression of promising cancer drugs from discovery through to Phase II clinical trials, thereby accelerating the development of new treatments for patients.
The CRT Pioneer Fund is notable for its capital-efficient approach, primarily utilizing a licensing model rather than creating new companies. This strategy allows for a more streamlined process in advancing innovative oncology research. The fund has launched with an initial close of £25M, with the potential to double this amount through contributions from both CRT and EIF. At least two-thirds of the fund will be allocated to developing scientific discoveries made by Cancer Research UK scientists, including projects from various prestigious institutions and laboratories associated with CRT.
The establishment of this fund represents the largest technology transfer operation partnered by EIF to date, underscoring its commitment to supporting innovation and research in Europe. The collaboration aims to translate world-class scientific research into viable cancer treatments more rapidly, ultimately benefiting patients and contributing to the UKs life sciences strategy.