The innovative platform developed by Awen Oncology addresses a significant unmet need in oncology, by homing in on previously untargeted human developmental genes that, while dormant in healthy tissues, behave unexpectedly during the onset and progression of cancer.
Based at M-SParc, and originally founded with a Cancer Research UK grant, Awen Oncology is a spin-out of Bangor University and Cardiff University. The therapeutics start-up was set-up by co-founders Doctor Ramsay McFarlane, Doctor Jane Wakeman and Professor Andrea Brancale, a world leader in computational medicinal chemistry. The company also has support from clinical teams across the UK.
M-SParc have supported the company to spin out of Bangor University via its Skills Academy Placement programme, the Level Up Accelerator and grant funding leading to investor readiness.
The Development Bank of Wales made a six-figure equity investment alongside a further six-figure investment from Start Codon, a specialist life science venture builder. Awen Oncology also has financial backing from Cancer Research UK, Innovate UK and the Welsh Government SMART capital programme. Additionally, the company has been selected for further development through Innovate UK Business Growth, a scale-up programme for pioneering businesses that drive economic development.
”One of our objectives at M-SParc it to accelerate the economic impact of the research excellence at Bangor University, and Awen Oncology is an excellent example of this” said Pryderi ap Rhisiart, M-SParc’s Managing Director. “I’m especially proud that our innovation eco-system and our programmes have accelerated Awen into the strong position that it is today. I hope that its success can inspire other academics to work with us to consider Commercialisation options and opportunities.”
Dr Ramsay McFarlane, CEO and Co-founder, Awen Oncology
Dan Rooke, Co-Founder and Chief Operating Officer at Start Codon said: “Awen Oncology is a really exciting company, with a game-changing technology that we believe has the power to unlock new cancer treatments and drastically improve patient outcomes. We are delighted to invest alongside our friends at the Development Bank of Wales – a first for Start Codon – and are looking forward to helping the Awen team to develop their technology and grow the company into a leader in the cancer therapeutics space.”
Tom Davies is an Assistant Investment Executive with the Development Bank of Wales. He said: “With world-leading academic expertise in the biology of oncogenic developmental factors, Awen Oncology is pioneering new oncology drugs that could potentially treat several different forms of cancer and help progress the development of the biopharmaceutical industry in Wales. The specialist support of Start Codon as co-investors, alongside our funds, means that the company is well-placed to progress the research and development of its drugs and attract further funding from industry-leading investors.”
tom@m-sparc.com
Tom used to work at the KFC in his hometown of Colwyn Bay before it mysteriously burned down. He then spent several years “on the lam” in East Germany, where he worked as an animator in Berlin. When the wall fell, Tom came home.
He enjoys climbing and hates ice-skating.
