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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

o2h Ventures continues to back Pencil Biosciences in its £5.6M Seed investment
o2h Ventures continues to back Pencil Biosciences in its £5.6M Seed investment
Sep 29 2023

Cambridge, UK: Pencil Biosciences, an innovative gene editing and modulation technology company has successfully raised £5.6 million in seed funding; a company that o2h Ventures backed in its first PreSeed funding round. 

Pencil Biosciences is developing a fully synthetic gene modulation and editing platform that will have impact across a wide range of applications, including new therapeutic options for patients with rare diseases and cancer. New investors include Octopus Investments, Northern Gritstone, Martlet Capital and SyndicateRoom. Existing investors – including UKi2S, the Greater Manchester and Cheshire Life Science Fund managed by Catapult Ventures, Jonathan Milner (Meltwind), o2h Ventures, also participated in the funding round by making a follow-on investment.

In 2020, o2h Ventures initially invested in Pencil Biosciences through their human health Enterprise Investment Scheme (EIS) fund, supporting the company’s initiation and expansion efforts. The newly acquired funds will be instrumental in enhancing and broadening the capabilities of its proprietary editing and modulation technology. This technology, characterized by its modular design, non-CRISPR composition, and remarkable compactness in comparison to Cas-based gene editing technologies, holds immense promise.

Sunil Shah, CEO of o2h Ventures, said

“We are thrilled that Pencil have closed this Seed investment from a syndicate or highly regarded investors. In a market where investors are highly selective this is a testament to both the platform and the management team.”

Amanda Smith, CEO of Pencil Biosciences, said

“Our ambition is to develop a truly innovative and unique gene modulation technology that catalyses innovation across a range of applications, including new therapeutic options for patients with rare diseases and cancer. This investment brings us closer to achieving our goals.”

About Pencil Biosciences

Pencil Biosciences is a company developing a novel gene editing and modulation platform that it anticipates will have wide impact across a range of applications. Based at Cheshire’s Alderley Park, Pencil Biosciences benefits from an experienced board and management team. 

About o2h Ventures

The o2h Ventures ‘Human Health’ SEIS and KI EIS funds make tax-efficient investments in early stage ands seed stage companies that address human disease: we fund the development of novel biotech therapeutics; we help build new services and tools offerings throughout the biotech ecosystem, and we spur the creation of software & artificial intelligence that will change healthcare. Explore our portfolio – https://o2hventures.com/portfolio. 

The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years. o2h Ventures operates from their proprietary 2.7 acre Mill SciTech Park where they are developing a unique model for incubating small life science companies.

Media Contact:

Juhi Shah

Marketing Manager

juhi.shah@o2h.com

 

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Please refer to the relevant fund’s full risk warnings contained in their Information Memorandums.
Your capital is at risk. Investing in early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. o2h Ventures’ funds are targeted exclusively at sophisticated or high net worth investors who understand these risks and make their own investment decisions. Tax relief depends on an individual’s circumstances and may change in the future. In addition, the availability of tax relief depends on the company invested in maintaining its qualifying status. Past performance is not a reliable indicator of future performance. You should not rely on any past performance as a guarantee of future investment performance.
o2h ventures Limited is regulated and authorised by the Financial Conduct Authority (FRN 812245). Capital at risk, only suitable for high net worth and sophisticated investors
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Risk Information

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk

What are the key risks?

1 – You could lose all the money you invest

• If the business you invest in fails, you are likely to lose 100% of the money you invest. Most start-up businesses fail.

2 – You are unlikely to be protected if something goes wrong

• Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here. (https://www.fscs.org.uk/check/investment-protection-checker)

• Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here. (https://www.financial-ombudsman.org.uk/consumers)

3 – You won’t get your money back quickly

• Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.

• The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.

• If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.

4 – Don’t put all your eggs in one basket

• Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.

• A good rule of thumb is not to invest more than 10% of your money in high-risk investments (https://www.fca.org.uk/investsmart/5-questions-ask-you-invest)

5 – The value of your investment can be reduced

• The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.

• These new shares could have addition rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here (https://www.fca.org.uk/investsmart)