12 July 2023
British Patient Capital has invested £10m in Tenpoint Therapeutics, an engineered cell-based therapeutics and in vivo reprogramming company developing breakthrough regenerative treatments for ocular diseases, as part of a $70 Million Series A fundraise.
This is British Patient Capital’s ninth investment in the life sciences sector via Future Fund: Breakthrough, a £375 million programme where British Patient Capital co-invests with private sector investors in innovative, R&D-intensive UK companies. British Patient Capital is joining investors Sofinnova Partners, F-Prime Capital, UCL Technology Fund, Eight Roads, and Qiming.
Tenpoint was established based on the work of its scientific founders from Moorfields Eye Hospital, the UCL Institute of Ophthalmology, Institut de la Vision, the University of Washington and, It is developing a series of ex vivo and in vivo cell engineering approaches which will provide long-term treatment options for restoration of vision by replacing lost and dysfunctional tissue in the eye.
Tenpoint aims to deliver therapies that could deliver benefits to patients affected by a large number of degenerative eye diseases, and this Series A fundraise will support the development of its advanced therapies.
Catherine Lewis La Torre, CEO of British Patient Capital, said:
“Cell engineering and gene therapy are key frontiers in life sciences today. In order for us to remain at the forefront, it is vital that we back the right technologies and invest in the most innovative companies in this sector with the potential to scale. Tenpoint Therapeutics has been built on the pioneering work of its scientific founders who are recognised leaders in ocular therapies. Their vision combined with research excellence provides the best foundation to develop treatments that could be gamechangers for millions of patients worldwide. Through Future Fund: Breakthrough, we are delighted to support this truly innovative British business with the funding to take the business to the next level.”
Eddy Anglade, MD, CEO of Tenpoint, said:
“Cell-based therapeutics represent an ideal modality for degenerative ocular diseases since most vision loss results from damaged or missing tissue. In recent years, a number of new technological advancements have converged to make this modality both clinically viable and scalable. At Tenpoint, we are focused exclusively on the eye and on harnessing recent advances in regenerative biology to advance our therapies as we work to change the future for people with vision loss by addressing its underlying causes.”
Notes to editors
About British Patient Capital
British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses. Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more here.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.
The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party of Tenpoint Therapeutics or its products or services.
About Tenpoint Therapeutics
Tenpoint is a biotechnology company committed to advancing engineered cell-based therapies and in vivo reprogramming to restore vision for people with degenerative ocular diseases, bringing together the global experts who are shaping the regenerative ocular medicine revolution and the technologies that are driving it. We are addressing the ultimate cause of vision loss by replacing diseased cells with healthy ones to permanently restore vision. Tenpoint’s global team is united by our passion for science and our commitment to patients.