Deliverics wins £275,000 'early stage' funding

AN EDINBURGH University spin-out has received £275,000 to develop gene therapy technology that might one day be used to treat people with cancer and cystic fibrosis.

Deliverics, formed on the back of a Scottish Enterprise "Proof of Concept" project, raised the funds from an investment syndicate of Upstarts, Innova Partnerships, Scottish Enterprise and a number of private individuals.

Upstarts is a wholly-owned subsidiary of Strathclyde University Incubator, and has helped 150 early stage companies since 1990, while Innova Partnerships is an early stage life science investment company based in St Fillans, Perthshire, that has invested in five firms since its inception four years ago.

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Upstarts led the investment, matched by Scottish Enterprise's Scottish Seed Fund. The fund provides equity investments from 20,000 to 100,000 to start-ups and early stage companies at the end phase of product development and commercialisation.