Cambridge: Further investment for Horizon Discovery

Investment

Translational genomics company Horizon Discovery, founded by Cambridge University researcher Chris Torrance, is to receive a further £100,000 from Cambridge Enterprise Seed Funds. The cash injection, says the investor, will support activity to close further significant third party deals, establish wet lab facilities and consolidate the company’s IP portfolio.

Founded in June 2007, Horizon Discovery uses a novel gene-engineering technology to create genetically-defined human disease models called “isogenic” cell-lines.  These human isogenic cell-lines, unique to Horizon Discovery, provide the first accurate laboratory based models of human genetic diseases and their matched normal cell-types.

Isogenic cell-lines therefore have the potential to speed up and reduce the cost of discovering novel personalised drugs that target the fundamental causes of diseases such as cancer.

Horizon Discovery made several several  agreements with large pharmaceutical and biotechnology companies over the past nine months. The company has just agreed a co-marketing and distribution relationship with a multinational life sciences company, which it hopes will see its products and services reach a global audience.

Cambridge Enterprise Seed Funds first supported Horizon Discovery with a convertible loan in July 2007.  Dr Geraldine Rodgers, Head of Seed Funds, said, “Horizon Discovery has achieved a great amount to date. We have high hopes for the success and profitability of Horizon Discovery in the future.”

This latest funding from Cambridge Enterprise Seed Funds has attracted interest from others, with Abcam Founder and Chief Executive Dr Jonathan Milner making an investment of £50,000. Dr Milner has a research background in genes and proteins associated with human cancers and founded Abcam, producer and distributor of research-grade antibodies, in 1998.

Commenting on the latest investments Horizon Discovery CEO Chris Torrance, said, “With our isogenic cell engineering technology and the visionary  support of Cambridge Enterprise Seed Funds and now Jonathan Milner, Horizon Discovery is set to become a world-leader in aiding the discovery of new and more effective ‘personalised’ medicines by the pharmaceutical industry.”