Oncology company gets £150,000 injection from £100m fund

MANCHESTER-based oncology company Incanthera has won a £150,000 investment pledge from Race to Scale, a £100m fund supporting scale-up businesses nationwide.

Private equity firm IW Capital and crowdfunding specialists Crowdfinders announced the nationwide roll-out of Race to Scale and cancer treatment company Incanthera is its first investment.

The annual initiative is open to UK SMEs that are looking for development finance in the form of an investment/loan between £100,000 and £5m.

Incanthera’s finance was secured after a successful pitch to 400 high net-¬worth and private investors at Crowdfinders’ latest live crowdfunding event at the Royal Institution in London.
 
With 79% of high-¬growth businesses based outside of London, the primary objective of Race to Scale is to encourage and support the nation’s scale-¬up community in sustaining growth from start-¬up into successful mid-¬size enterprise.

The annual initiative aims to power vital development finance into entrepreneurial hotbeds across the UK, with a focus on key cities including Birmingham, Bristol, Cardiff, Edinburgh, Leeds, London and Manchester.