Cambridge-based bioinformatics specialist, Eagle Genomics, has been supported to raise £1m in investment through the Angels in MedCity programme; a partnership between MedCity, LBA and Angels4LifeSciences.

The investment, which included participation from the LBA EIS Roundtable Syndicate Fund 2016 and the London Co-Investment Fund (LCIF), will help Eagle Genomics to develop technology that will reduce research costs and time, and help companies get their products to market faster.

The Angels in MedCity (AiMC) programme, a partnership between Angels4LifeSciences, London Business Angels (LBA) and MedCity, was launched at the Wellcome Trust in November 2014 with a first entrepreneur presentation event held in February 2015. The programme  was set up to introduce new and existing business angels to early stage and potentially high growth investment opportunities in the medical and life sciences sectors. 

An Oxford-based SME developing products for regenerative medicine and cell culture has become the third company to secure investment in the first year of Angels in MedCity, launched by MedCity, London Business Angels (LBA) and Angels4LifeSciences in October 2014 to grow a new community of angel investors for life sciences.

The Electrospinning Company, located at the Rutherford Appleton Laboratory, has raised £400,000 after attending an investment-readiness course and presenting to investors as part of the Angels in MedCity programme.