Cambridge Startup PharmEnable Raises £1.8M from UK Family Office

PharmEnable is a drug discovery startup from Cambridge that is focused on finding complex candidate molecules for drug development. Now, the startup raised its seed financing round. The funding round was heavily oversubscribed. One of the ivnestors: Paul Forster, the co-founder of Indeed.com. Other investors include Cambridge Enterprise (who led the round), Jonathan Milner or David Ford. PharmEnables technology predict small molecules that might be suitable for various disease areas. Dr Christine Martin of Cambridge Enterprise commented the investment with: “Cambridge Enterprise is really pleased to be investing in this exciting opportunity. To have closed the round during these last few months, and to have attracted such a strong investor syndicate, is a testament to the potential of the AI-enabled platform that PharmEnable has built. We are pleased to support the company in its transition to in-house drug discovery. We believe it will have significant impact through addressing undruggable therapeutic targets.”

Paul Forster Family Office as angel investor

Paul Forster launched Indeed in 2004. The portal was acquired by Recruit Holdings in 2012. Since then, Forster (and his family office) is an active startups investors. His investments are mainly focused on the tech space. Portfolio companies include Personio, Sano Genetics or Speechmatics.

Source: Cambridgenetwork, 30.06.2020
Picture Source: Jakub Pabis via Unsplash