BRISTOL UPDATES

NEWS FROM LOCAL BUSINESSES AND COMMUNITY ORGANISATIONS

Residents at Abbeyfield

GRAND REOPENING

After adhering to the strictest guidelines across its supported-living houses for a year, Abbeyfield Bristol & Keynsham has now officially reopened its doors for house tours.

During the Covid pandemic, securing the safety and well-being of residents and staff was the primary concern.

Abbeyfield offers a wonderful alternative for older people and is ideal for those now finding it difficult to manage in their own house. Residents continue to enjoy their independence but benefit from the reassurance of some support and a community of like-minded people. The private, en-suite apartments are available to rent and fees are inclusive of utility bills and delicious home cooked meals.

As part of its Safe Hands campaign, Abbeyfield is offering all new residents one week free! Vacancies in Redland, Henleaze and Easter Compton.

• abbeyfield-bristol.co.uk

CHAMPIONING START-UPS

A group of successful entrepreneurs from the Bristol area have set up a mechanism to provide seed-funding for early-stage start-up businesses in the south west. It is a new venture for Bristol Private Equity Club (BPEC), which previously only invested in established enterprises with growth potential.

BPEC Seed is sourcing the businesses to fund through established links with organisations such as SetSquared, TechSpark and Tech South West, with around 20 per cent of BPEC members looking at supporting startups.

Heading up BPEC Seed is Peter Lockett, active BPEC member since 2018, supported by colleagues Ben Cooper and Sam Simpson. All three volunteers have had extensive experience and success with their own early-stage companies and are active Business Angels in the south west.

BPEC has invested around £8 million in local businesses since it was founded four years ago and now has over 100 members.

• bristolprivateequityclub.com

Sam Simpson

THE FIRST OF MANY

International legal practice, Osborne Clarke, has advised investment fund, Science Creates Ventures, on its first seed investment into University of Bristol biotech spin-out CytoSeek.

The SCV fund focuses on technologies with the Erika Jupe potential to improve healthcare, quality of life, and the environment. It is supported and backed by several successful Bristol-based entrepreneurs, including Dr. Harry Destecroix, who sold his company, Ziylo, in a deal potentially worth £623 million in 2018.

CytoSeek was established to develop next generation cell therapies using artificial membrane-binding protein technology. The start-up has raised £3.5 million, led by SCV, and is seeking to get its technology to cancer patients who are currently underserved by existing treatments.

The Osborne Clarke team on the CytoSeek investment was led by London-based partner Matthew Edwards. Bristol-based partner Helen Parsonage led on the fund formation, assisted by Erika Jupe, also based in Osborne Clarke's Bristol office, on tax.

Osborne Clarke is a leading European law firm for companies operating in the life science and healthcare sector. Its sector team has a strong track record of providing highly sophisticated advice to investors and life science and healthcare clients on cutting-edge issues, across multiple service lines. It works with blue chip venture capital firms, the biggest pharma, medical devices, medtech and digital health companies in the market.

Dr. Carolyn Porter, CEO at CytoSeek, says: “This funding round led by SCV will enable us to succeed in scaling up our R&D efforts and advance our mission to develop nextgeneration cancer cell therapies. Our ambition is to get our technology into cancer patients who are currently underserved by existing treatments and work with partners to make their cell therapies better.”

SCV has been working closely with CytoSeek since its inception and led a syndicate of new investors that included Parkwalk Advisors, Meltwind, Luminous Ventures and several angel investors in this funding round.

Dr. Harry Destecroix, co-founder of Science Creates Ventures, says: “We have really enjoyed working with Osborne Clarke on the set up of Science Creates Ventures and this, our first investment. Both Helen Parsonage on the fund formation side and Matt Edwards who has advised us on our investment in Cytoseek, have been responsive and commercial, and invaluable partners in guiding us through all the processes. We look forward to working with them as we invest the rest of our first fund and on raising more money in the next few years.”

• osborneclarke.com