Panthera raises £10m funding for growth

Preston-based Panthera Biosciences has raised £10m of funding to be invested in expanding its network of dedicated clinical trial sites across the UK and Western Europe.

Panthera was founded in 2019 by Dr Ian Smith, the organisation's medical director who also founded the largest Site Management Organisation (SMO) in the world Synexus, and Professor John Lyon, who is chairman and chief financial officer amd a serial entrepreneur.

The company recruits patients and runs clinical trials on behalf of Contract Research Organisations and pharma. It has developed the SMO model through technology and trials in specialist areas such as oncology, NASH, neurology and vaccines as well as those treated in general practice. Oncology trials are undertaken in partnership with the Rutherford Cancer Centres across the UK.

The investment, from BGF and Gresham House Ventures, will be used to fund further expansion in the UK and Western Europe, as well as continuing to invest in enhancing the service offering.

John Lyon said: "We are very pleased to have the backing of such reputable and respected investment houses as BGF and Gresham House Ventures, which will supercharge our expansion.

"In the last two and a half years our management team has built an exemplar SMO model which has been welcomed by our clients in the major pharmaceutical companies and CROs. In the next 12 months we aim to become the preferred provider for our clients across Europe."

Matt Widdall and Rhys Davenport led the deal for BGF. Matt said: “We were attracted to Panthera’s high quality, experienced team who have rapidly developed an exciting proposition, with the potential to become the leading SMO in Western Europe.

"Today’s investment will unlock significant growth potential and we look forward to working with the business to realise its ambitions. BGF has become one of the most prolific investors in healthcare as the sector has flourished. Our experience means we are ideally placed to support Panthera on the further development of its technology platform and international roll-out strategy.”

Maya Ward, investment director at Gresham House Ventures, added: "We have been extremely impressed by the management team at Panthera and the company’s financial performance to date. There is a sizeable market opportunity given patient recruitment is a major pain point and expense for sponsors in bringing new drugs to market, which a specialist site management organisation like Panthera can help address."