Burges Salmon advised Cumulus Oncology about £1.7m investment

Bio liquid in lab

Cumulus Oncology is Europe’s first oncology drug discovery accelerator. Founded in 2017, the company develops new oncology treatments that target the unmet medical needs of specific cancer patient groups.

Burges Salmon LLP advised Cumulus regarding their £1.7 million fundraiser – one of the firm’s largest deals. It was led by Eos Advisory, a St Andrews-based investment company.

Eos was backed by the Scottish Investment Bank, a subsidiary of Scottish Enterprise, Alba Equity, Apollo and Investing Women.

Cumulus creates spin-out companies developing anti-cancer therapies and fast-tracking treatments into clinical trials for cancer types that don’t respond well to existing procedures.

Burges Salmon spokesperson

In what looks to be an exciting first milestone for the future development of oncology based therapies in UK and Europe, we were thrilled to have been able to assist the Cumulus team in a ‘lockdown transaction’ and expand the firm’s rapidly growing focus in the Life Sciences sector.

Danny Lee, Corporate Finance Partner, Burges Salmon LLP

Danny and his team at Burges Salmon provided excellent support and guidance at every stage of this transaction, being responsive and effective in their role. We are extremely grateful for their insights, pragmatic approach and skill in negotiation.

Clare Wareing, CEO and Founder, Cumulus Oncology

Burges Salmon has offices in Bristol, London and Edinburgh, and specialises in legal advice for a variety of business sectors.

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