In December 2020, ILC secured an investment from Medical Incubator Japan (MIJ), a Tokyo-based fund specializing in healthcare that was investing in a biotech company in Europe for the first time.

MIJ president Jun Katsura said: “We are off to a good start with ILC because its novel interferon technology has great potential to develop effective treatments for SARS-CoV-2 as well as for other viral diseases, immune diseases and cancer.”

MIJ joins an existing cohort of investors which include Scottish Enterprise and St Andrews-based investment syndicate EOS Advisory, which is the company’s first and largest investor.