On International Women’s Day, the Enterprise Investment Scheme Association (EISA) representing entrepreneurs, investors, fund managers and advisors from across the EIS ecosystem, is highlighting the value brought to the UK economy by inspirational women making use of the Enterprise Investment Scheme (EIS) and the Seed Scheme (SEIS).
Director General of the EISA, Christiana Stewart-Lockhart commented, “Investment through the SEIS and EIS have enabled thousands of women in the UK to grow and scale their businesses across a whole range of industries. To mark International Women’s Day we’re delighted to hig/Users/peteribbetson/Downloads/pexels-cowomen-2041393.jpghlight four of these women and the remarkable work they are doing with the help of investment through the EIS and SEIS.”
Cumulus is the first oncology drug development accelerator in Europe, developing new oncology treatments that target unmet medical needs of specific cancer patient populations. Clare Wareing, Cumulus Founder and CEO, said “With the support of our cornerstone investors, we will accelerate our business model to identify and develop new oncology treatments that target the unmet medical needs of specific cancer patient populations.”
Ferryx is a Bristol based start up, co-founded by Jenny Bailey. Ferryx is developing innovative live biotherapeutic products for the safe and effective treatment and prevention of gut inflammation. Jenny explained that “as a new start up company, particularly one developing pharmaceutical products, the perceived risk of investment can be high. The EIS reduces the risk for investors, giving them more confidence in the proposition and thus, enabling us to find the right investors for our company at the right time.”
Carcinotech, uses 3D printing technology to create tumours that are used to test cancer treating drugs. Ishani Malhotra, Carcinotech Founder and CEO noted the importance of the schemes and the support of their investors in raising nearly £2m to enable the development of the critical technologies. “Our next phase of growth will involve building international partnerships, growing the team, and appointing a scientific advisory committee to support the work of the main board,” she said.
Shannon Beattie is the CEO of GenoME Diagnostics. The Queen’s University Belfast spin-out is developing technology which aims to enable significantly earlier identification of ovarian
cancer. They are focused currently on one of the most aggressive forms of ovarian cancer, known as High-Grade Serous Carcinoma. Shannon commented that “SEIS support enabled us to obtain our initial investment for the company, in what would otherwise be deemed a high-risk sector. This funding allowed us to continue our technical development and begin commercialisation of our lead product. EIS support is allowing our business to continue to grow and scale, by further developing our lead product, beginning development in new disease areas, creating new job opportunities and expanding our market traction.”
“Without the SEIS and EIS we wouldn’t be hearing from many of these critical businesses today. These four women are having a significant impact on the world and their work highlights why the two schemes are so important in attracting the necessary private investment for innovation in the UK,” added Christiana Stewart-Lockhart, Director General of the EISA.