BRIEF—£3 million investment in immunotherapy spinout

The CRT Pioneer Fund is investing £3 million ($4 million) in NeoPhore, a spin out from Cambridge, UK-based firm PhoreMost.

NeoPhore is focused on the discovery and development of novel small molecule therapies to treat cancer through stimulation of the immune system.

The investment is being managed by Sixth Element Capital.

Robert James, Sixth Element co-founder and newly-appointed chairman of NeoPhore, said: “PhoreMost’s asset-centric model is well-matched to CPF’s strategy of funding innovative science in order to bring new therapeutic products and technologies to market.”

“NeoPhore’s novel immunotherapy portfolio is one of the most exciting approaches we have seen to exploit traditional drug discovery in the context of immunotherapy.”