Maven Capital Partners (“Maven”) and YFM Equity Partners (“YFM”), have announced the completion of a £6.5m Series A investment for Biorelate.

Founded in 2014 and led by Daniel Jamieson, Biorelate curates dark biomedical knowledge to empower drug discovery with its proprietary AI platform, Galactic AI™. Galactic AI’s innovative technology uniquely combines natural language processing (NLP) and machine learning (ML) to capture highly valuable biomedical data that pharmaceutical and life sciences organisations can utilise to improve decision making in their drug discovery programs.

As drug discovery becomes increasingly more difficult to turn a profit, biopharmaceutical companies are investing more into AI and data-driven solutions that improve the chances of success. These same approaches can also be instrumental in finding entirely new hypotheses unforeseen by human experts. Biorelate are helping on both fronts by capturing billions of biomedical datapoints not found in existing databases, that they use to form a more complete map of scientific research. They then use this to support biopharma companies with target, biomarker and other related drug discovery challenges. Since launching Galactic AI™ in 2020, Biorelate has experienced significant growth and has brought on board leading global companies such as AstraZeneca and Idorsia, as well as a host of other undisclosed names.

The funding was raised through YFM’s VCTs, the Maven VCTs and Triple Point Ventures, with continued investment from NPIF – Maven Equity Finance, which is managed by Maven and part of the Northern Powerhouse Investment Fund, as well as a group of angel investors from the Manchester Tech Trust. Biorelate will use the investment to increase its commercial and technical capacity, as well as wider expansion into the US to tap into the industry’s largest market.

Gavin Bell, Investment Director led the deal for Maven. The YFM team included Andy Thomas, Aaron Lowery and Ian Waterfield.

Dan Jamieson, founder and CEO of Biorelate, said: ”Drug discovery is so exciting right now, as there are just so many incredible companies working on remarkable new therapeutics. Equally, we are at a time where there is a stupendous amount of untapped evidence, like cause-and-effect, sat dark and subsequently unused by these same companies. Our mission at Biorelate is to capture this untapped data and help them make sense of it. With this improved understanding we are empowering these companies to make better decisions and speed up the drug discovery process.”

Gavin Bell, Investment Director at Maven,said: “Biorelate has grown significantly since we first backed the business at an early stage through NPIF Maven Equity Finance. It’s exciting to see an innovative deep tech business born in Manchester now develop globally. We’re absolutely delighted to continue to support the vision and ambition of Dan and the Biorelate team, to scale and capitalise on the attractive global growth opportunities.”

Andy Thomas, Partner at YFM Equity Partners, said: “By quickly and effectively processing the growing and evolving swathe of publicly available biomedical data, Biorelate has the ability to be at the forefront of innovation in the pharmaceutical and life sciences industry. We are excited to be part of the next step in the business’ journey, and see huge potential for continued growth and expansion.”

Sean Hutchinson at the British Business Bank, said: “We are pleased that the Northern Powerhouse Investment Fund is continuing to unlock the North’s growth potential through ambitious businesses like Biorelate, that make profound differences in their industries. Biorelate’s growth is a step forward for the pharmaceutical and life sciences industry, and NPIF is proud to have facilitated its development.”

Other advisers on the deal included: Craig Corporate, Sales Blueprint, Pannone Corporate, The Startup Factory, Catalysis, Lockton, Shoosmiths, Philip Hare & Associates, CMS and Hadley Appenine.

-END-

Further information

For media enquiries or any questions about the investment, please contact:

Sapience Communications (PR to Maven)

Richard Morgan Evans           020 3195 3240 
[email protected]

Maven Capital Partners

Steven Ford                            07580 792 608           
[email protected]

About Maven Capital Partners UK LLP

Maven is a leading private equity house focused on the provision of flexible funding for high growth businesses, and one of the most active investors in smaller companies in the UK.

Headquartered in Glasgow, and with offices throughout the UK, Maven has over 90 investment and support professionals providing a truly nationwide coverage. Maven has over £740 million funds under management and ready to invest, and manages assets for a variety of client funds, including Venture Capital Trusts, MBO Fund, UK regional fund mandates, and Maven Investor Partners, a syndicate of institutional, family office and experienced investors.

For more information visit: mavencp.com

About YFM

YFM invests £2m to £10m into businesses with strong growth potential located across the UK through a regional network of offices in London, Leeds, Manchester, Reading and Birmingham.

YFM Equity Partners are specialist, independently owned, private equity investors. Having recently celebrated 40 years of investing experience, our portfolio may have changed over the years, but our ethos has remained the same – to support small businesses across the UK in their next phase of growth. We seek to unlock value and growth potential by providing up to £10 million of equity to fuel the development of established business throughout the UK regions. We do this by helping our portfolio companies launch new initiatives, make transformative acquisitions, and upgrade technologies and systems. We are dedicated to working alongside management teams to create long-term value for our investors, the companies we invest in, and make a positive economic impact for the communities in which we work. We manage funds in excess of £420 million which include venture capital trusts and private equity funds.

YFM Equity Partners conducts its investment business through its subsidiary YFM Private Equity Limited which is authorised and regulated by the Financial Conduct Authority (FRN: 122120).

For more information, please visit www.yfmep.com or follow us on LinkedIn

About The Northern Powerhouse Investment Fund

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.

About Triple Point Ventures:

Triple Point has been investing in early-stage businesses for over 15 years and manages over £2.5bn of assets. Our team of 150 investment professionals has invested over £600m into early-stage UK businesses, including LendInvest, Capital On Tap, Ably, Vyne, Contis, Credit Kudos and Quit Genius.