Mayer Schreiber, CEO of Discovery Park, and Chris Broom, Head of Business Development at Discovery Park, recently attended the JP Morgan Healthcare Conference in San Francisco to build global connections and raise awareness of the opportunities in the UK for the biotech industry, as well as exploring opportunities for Discovery Park Ventures and its portfolio companies. The conference brought together thousands of industry experts from across the globe to discuss the biggest challenges and opportunities for 2024 and beyond.

The outlook from the conference for 2024 was cautious optimism, though overall, very positive. Several large deals were announced at the end of 2023, showing positive signs for the biotech industry. While the market is still in a downturn, brilliant science and innovation will still attract funding to create opportunities for the industry.

There were interesting discussions about what the innovation landscape will be like this year, including the short-term GLP-1 agonist success, and what new innovative drugs we can look forward to in the next decade. Also discussed at the conference was innovation around RNA technologies and the delivery of those — an area Discovery Park tenant and investee company, Vitarka Therapeutics, is active in.

The prominence and opportunity around AI for healthcare was a big topic at the conference, including how AI will help identify targets with specificity using genetic data. Big Tech is pushing more into generative AI for drug discovery to increase efficiency of clinical trials and regulatory approvals. Another common theme among panel discussions was cell and gene therapies. This was no surprise, with the conference coming just a month after the FDA’s approval of two gene therapies for sickle cell disease.

Also discussed were neuroscience, antibody drug conjugates and the importance of women’s health. Supporting the inclusion and empowerment of women is a priority for Discovery Park. Many of Discovery Park Ventures’ investments have gone to female-led businesses. For example, Discovery Park investee BoobyBiome, a UK biotech start-up developing products that deliver vital microbes to support infant gut flora and boost early immune system development, was founded by an all-female team of scientists.

There was a strong presence of UK companies at the conference, representing the UK’s expert capabilities both in academia and in translation. The Department for Business and Trade also attended the conference to promote inward investment opportunities, build confidence in UK life sciences, and connect companies with global investors and partners. Being part of the vibrant atmosphere at JP Morgan demonstrated the potential opportunities that can be gained by enhancing global networks in order to grow the sector.

There is a growing trend for biotech companies to outsource the development and manufacture of drugs in order to benefit from specialist knowledge and lower costs. This paired with increased demand for small molecule drugs presents a significant growth opportunity for CDMOs, evidenced by strong interest from the global CDMO industry in Discovery Park’s Active Pharmaceutical Ingredient (API) and drug product manufacturing facilities. CDMOs require advanced facilities integrating the latest technologies to take advantage of this growing demand and Discovery Park presents a promising option for those companies looking to expand their capacity and remain competitive.

Despite the challenging wider economic landscape for the biotech industry, there was a great sense of optimism at the JP Morgan Healthcare Conference. Finance will still be a challenge for the industry, but biotech innovation will always be important due to its impact on people’s lives. Collaboration and forging closer relationships both nationally and internationally will support the UK’s strength in this space.

Photo: Chris Broom and Naz Bashir. With thanks to Michaela Joy Photography and Perkins Coie.

Discovery Park Ventures (DPV) announces an investment of £100K into Vox Imaging Technology Ltd. (VIT), an ambitious ophthalmic technology company looking to transform eye imaging in preclinical research and improve drug discovery and development. Its compact and customisable instrument is believed to be the first scanning laser ophthalmoscope especially designed for laboratory use, able to produce high-quality data rapidly. Vox Imaging is the eighth investment from DPV’s first fund.

Prevalence of diseases of the eye (such as age-related macular degeneration) and conditions in which the eye may be affected (such as diabetes) is increasing as the population ages. The resultant demand for new and better medicines for these conditions is helping to drive the global drug discovery market, expected to be worth over US $120 billion by 20301, and the need for new research instruments such as the VoxOne scanning laser ophthalmoscope.

Vox Imaging Technology was founded in 2021 by Peter West and Alan Robinson, who have extensive experience in developing innovative ophthalmic imaging systems from roles in industry and academia.

Discovery Park Ventures (DPV) recognised the VIT team’s expertise in this high potential market and the advantages its technology offers over existing products.

The investment will enable the company to move into new premises at Discovery Park and will facilitate the completion of a working prototype and proof of concept testing prior to launch in 2025. The majority of customers are expected to be pharmaceutical and biotech companies or contract research organisations. Following the investment, DPV Director Dr Martino Picardo joins the company as Interim Chairman while fellow DPV Director Emma Palmer Foster joins Vox Imaging as Investor Director.

Peter West, Chief Technology Officer and Founder, Vox Imaging Technology, said: “We’re gratified that Discovery Park Ventures recognised the potential impact of accurate ophthalmic imaging in early-stage research. Not only will their investment help to drive the development of our technology, but Discovery Park also offers the ideal location for us to grow the business with high-specification facilities, access to a wide network of potential partners and advisors, and a strong academic research community on our doorstep.”

Mayer Schreiber, Chairman of Discovery Park Ventures, commented: “High resolution, easy to use preclinical ophthalmic imaging will facilitate progress towards new treatments for eye-related diseases. We’re excited to invest in such a promising business that already calls Kent home and are pleased to welcome the team to Discovery Park.”

DPV was set up by Discovery Park in 2022 to invest in promising, fast-growing life-science companies. The fund recently expanded to £3m and has plans to expand up to £25m in the next three years. DPV invests in novel and disruptive technologies related to Discovery Park’s areas of focus and investee companies have strong collaborative relationships with Discovery Park.