LUNAC Therapeutics Completes Additional Financing Round

Funds will be used to advance pre-clinical and manufacturing development programmes and prepare for clinical studies.

Dr. Mervyn Turner, Chair of LUNAC Therapeutics, commented:

“LUNAC has demonstrated exceptional progress working closely with our world-leading academic founders and CRO partners. This new funding, alongside follow-on investment from our existing investor, demonstrates the clear medical need and value of our programme. LUNAC is in an excellent position to move our programme forward into preclinical development and prepare for the first clinical studies. We thank Caribou and Epidarex for their ongoing support and welcome Mercia as a new investor.”

Mark Wyatt, Investment Director with Mercia, commented:

“LUNAC is a great example of the world-leading academic research base that exists within the Yorkshire region that is attracting significant specialist investment. We are pleased to be able to support the business alongside others at this time, and are excited to see its novel therapeutic programme continue to make progress.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank. LUNAC Therapeutics is a spin out from the University of Leeds pursuing the discovery of next generation oral anticoagulant therapies with a reduced risk of causing bleeding compared to current treatments. LUNAC’s primary focus is on the inhibition of activated Factor XII (FXIIa), a clotting factor enzyme which plays a role in pathological clot formation (thrombosis), but not in the stemming of bleeding (haemostasis). Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group's 'Complete Capital Solution'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet. Mercia Asset Management PLC is quoted on AIM with the epic "MERC" and includes the following wholly owned subsidiaries -

• Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
• Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
• EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560

www.mercia.co.uk The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.

The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.
The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.

The NPIF covers the following Local Enterprise Partnershipareas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations in: Yorkshire and the Humber, the North West and Tees Valley.

The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at www.thebusinessfinanceguide.co.uk/bbb
  Epidarex Capital is a transatlantic venture firm that invests in early-stage, high-growth life science companies in under-ventured markets. Epidarex focuses on providing risk capital and expertise to create, support and build young companies, including spinouts, from leading research institutions in both established and emerging life science hubs. The fund’s international management team has a track record of successfully partnering with top scientists and entrepreneurs to develop highly innovative products for the global healthcare market.
  The Future Fund was established to support the UK’s innovative businesses currently affected by Covid-19. These businesses have been unable to access other government business support programmes, such as CBILS, because they are either pre-revenue or pre-profit and typically rely on equity investment.