British Patient Capital has committed $65 million to back the latest SV Health Investors’ fund to support scientific breakthroughs into BioTech companies developing treatments for poorly treated diseases.

The $2.5 billion government-backed programme, which is part of the British Business Bank, has made the commitment to SV’s Impact Medicine Fund (IMF) to increase its exposure to life sciences and health technology, building on a commitment to the Dementia Discovery Fund in 2018.

The IMF is SV’s first dedicated BioTech fund, with a mission to turn scientific breakthroughs into successful companies.

The fund, which closed at $265 million, attracted investment from several leading pharmaceutical companies, family offices, pension funds and charities, including Cancer Research UK, Guy’s and St Thomas’ Charity and the Paul Hamlyn Foundation.

Cancer Research UK announced its strategic partnership with SV Health Investors in June 2019, focusing on accelerating the translation of research into the development of new cancer medicines for patients.

The fund has already made a number of investments into UK based science, creating biotechnology companies such as Alchemab, which develops antibody therapies for hard-to-treat diseases, including cancers, infectious diseases and neurodegenerative conditions.

In May 2020, SV managing partner Kate Bingham was appointed chair of the UK's Vaccine Taskforce.

While at SV, her investments have resulted in the launch of six drugs for the treatment of patients with inflammatory and autoimmune disease and cancer making her uniquely qualified for the role.

Catherine Lewis La Torre, chief executive of British Patient Capital, said: “The strength of SV’s UK based team, and their partnerships with groups such as Cancer Research UK, ensures access to some of the UK’s most exciting high potential biotech investment opportunities.

“The potential for precision medicine to significantly improve healthcare outcomes not only addresses some of society’s most pressing challenges, highlighted by COVID-19, but also offers SV a compelling investment opportunity."

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