Genentech, a biotech subsidiary of pharmaceutical firm Roche, has co-founded a UK-based life sciences accelerator called Start Codon that will invest in up to 50 seed-stage startups over the next five years.
The co-founders also include Cambridge Innovation Capital (CIC), the patient capital fund established by University of Cambridge, and Babraham Bioscience Technologies, which manages the bioscience-focused Babraham Research Campus, as well as private backers Jonathan Milner and Ian Tomlinson.
Start Codon will nurture pre-series A companies that extend life sciences and healthcare innovations from the UK and further afield, investing up to £250,000 ($325,000) in seed capital and offering access to resources from the Cambridge ecosystem to help startups prepare for series A funding.
Portfolio companies will also benefit from a dedicated full-time team of mentors and will be given office and laboratory space at University of Cambridge’s Milner Therapeutics Institute.
Ian Tomlinson has been appointed chairman of Start Codon’s board, which includes Jo Parfrey, a non-executive director at Babraham Bioscience Technologies. The executive team will be led by Jason Mellad, former CEO of Cambridge epigenetic diagnostics spinout Cambridge Epigenetix.
James Sabry, global head of pharma partnering for Roche, said: “We are very pleased to support Start Codon in harnessing the best research from the region and fostering healthcare innovation at its earliest stages.
“We believe some of the most cutting-edge science in the world is happening in Cambridge, and this investment builds on our commitment to driving scientific advances within the UK and globally.”
The original version of this article appeared on our sister site, Global University Venturing.