Nemesis Bioscience has completed its latest funding round, taking the total seed funds raised to over £700,000 (Insider Media, 2017).

The round was led by the Rainbow Seed Fund, who co-invested alongside Finance Wales and Dr Mark McCamish.

Nemesis Bioscience was founded in March 2014 by Dr Frank Massam, Professor Conrad Lichtenstein and Dr Gi Mikawa. It is based in Cambridge and Cardiff. The company is developing products designed to resurrect anti-microbial therapies made ineffective by increasing microbial resistance. The investment will be used by Nemesis to validate its suite of bacterial cybergenetics technologies in vivo.

Phil Barnes, who led the investment for Finance Wales, said “Nemesis is an exciting portfolio company that has benefited from both Finance Wales’ technology seed funding and follow-on investment from our main technology venture funds. Having a high calibre co-investor such as the Rainbow Seed Fund brings great sector experience and additional development capital to the company.”

Rainbow’s investment director Oliver Sexton said “Nemesis has world-leading technology. Its platform has been shown to return vulnerability to antibiotics in clinical isolates. With this funding, Nemesis can take the programme closer to the clinic and revolutionise the race to beat antibiotic resistance.”