Our corporate team advised IQ Capital and Northern Gritstone on their participation in a £5 million seed funding round for Imperagen, a biotech company focused on advancing enzyme engineering.
Imperagen, a biotech spin-out from the University of Manchester, is developing technology that combines artificial intelligence, quantum physics modelling and automated laboratory testing to improve the speed and accuracy of enzyme design. The investment round was led by PXN Ventures, with IQ Capital and Northern Gritstone among the participating investors.
Our corporate team supported IQ Capital and Northern Gritstone throughout the transaction, advising on the investment documentation and sector-specific insight into AI, life sciences and emerging deep tech investment trends. The deal reflects continued investor interest in high-growth deep tech and life sciences businesses, particularly those emerging from leading UK universities.
Imperagen’s technology predicts how enzyme variants will behave using computer modelling, rather than relying on lab-based trial and error. These predictions are used to train its AI models, which are then refined through automated experiments in a continuous feedback process.
The funding will support Imperagen’s continued growth, helping to accelerate product development. This research has the potential to impact a wide range of industries, including pharmaceuticals, where it could support faster drug discovery, as well as more sustainable manufacturing processes across sectors such as chemicals, food and biofuels.
Zickie, head of venture capital at Mills & Reeve, commented: “It’s been a pleasure to support Imperagen on this important investment. The business is operating at the cutting edge of AI and life sciences, developing technology that has the potential to significantly improve the speed and efficiency of enzyme engineering. This funding will enable the team to accelerate their growth and bring innovative, more sustainable solutions to market.”
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