The collaboration agreement enables EOS backed Cumulus and LDC to boost the discovery and development of novel oncology therapies.
Both organisations will target assets in the oncology area for collaboration and potential future company co-creation while allowing “wider access to funding partners and other global collaboration partners”. LDC also has alliances in place with AstraZeneca, Bayer, and Merck.
Commenting on the collaboration, Alan Wise, Chairman and Co-Founder of Cumulus, said: “This strategic partnership with one of the leading drug discovery centres in Europe provides a unique opportunity for Cumulus Oncology to fuel its pipeline of next-generation novel oncology assets.”
Clare Wareing, CEO and Co-Founder of Cumulus, said: “We are very much looking forward to working with our colleagues at LDC to the mutual benefit of both our organisations and ultimately to the benefit of the cancer research community, in particular the patients dealing with a cancer diagnosis.”
Bert Klebl, CEO and chief science officer of LDC, said: “We anticipate that joining forces with Cumulus Oncology will leverage early-stage novel oncology approaches from our research networks, turning these early-stage assets into true innovations in cancer research and therapies.”
Founded in 2017, Cumulus aims to create spin-out companies around novel anti-cancer therapies that are fast-tracked through development and target cancers that don’t respond well to existing treatments.
This new partnership is the next in a series of successes for the firm over the last year. Cumulus secured a £1.7 million investment round led by Eos Advisory last July and in September founded its first spin-out, Modulus Oncology, alongside the University of Sheffield. The firm said the funding would enable it to take advantage of what it described as “significant market opportunities in Europe”.
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The firm also boosted its leadership team in November last year with a series of high-profile appointments to its advisory board.
Mohamed ‘Raz’ Dewji, Chris Brinsmead CBE, Ian Waddell and Nicola Broughton took up executive, strategic or advisory roles in the spin-out companies created as part of the Cumulus business model and are now “supporting further asset acquisitions and future investment strategies”.