CIC consults Michael Anstey

Cambridge Innovation Capital (CIC), the university venturing fund of Cambridge University, yesterday announced the appointment of Michael Anstey (pictured) as investment director for healthcare.

Anstey joins from consultancy firm Boston Consulting Group, where he had been a principal in the healthcare practice based in Toronto, Canada for seven years.

During his time with the consultancy, he advised multinational healthcare companies across North America, Europe, India and Japan on areas such as R&D, corporate strategy, M&A, sales and marketing, new launches and medical strategy.

Anstey, who holds a PhD from Oxford University in zoology, is also a co-founder of Proteorex Therapeutics, a Canada-based biotech developer focused on protein-protein interactions in disease.

The appointment follows news in December 2016 that Andrew Williamson, a former partner at True North Venture Partners, was joining CIC as an investment director. CIC previously raised an additional £75m ($90m) for its fund, boosting it to £125m, in August 2016.

Anstey said: “There is an abundance of impressive innovation in bioscience occurring in the Cambridge Cluster. We are on the cusp of something fantastic here. It is exciting to be part of an opportunity in a growth phase and I think it is the perfect time to join this world class team and build something great.

“At BCG I advised over 30 multinational pharma companies on their most challenging issues to help them to win in their market. It’s like putting the pieces together for a complex jigsaw; if you want to win in oncology then you need to focus on this type of technology, partner with this institution, acquire this company and so on.

“Each big pharma has its own culture and I have a good sense of how they work and the differences between them.

“Many of our portfolio companies aspire to become successful on this scale or are looking to sell to, or partner with, these companies. I have a good sense of what small businesses need to do to be attractive to them.

 “Although there is more money in the United States, there have been great success stories in the UK where impressive feats have been achieved on less money. I think we should celebrate that; Britain is quite unique and we do not need to replicate the US. The UK has its own special abilities.

“Cambridge Medical Robotics (CMR) is an interesting example. They are in a huge potential market with some stiff competitors who are spending more on development, but CMR has the best technology and is leading the way.

“However, there is usually a need down the line for large sums of money, and we operate in a global environment. Overseas investors can bring access to new markets as well as new funds.

“Cambridge is arguably the hottest spot in Europe for start-ups so there is fantastic deal flow coming through. We have money to invest so we are looking for the best opportunities – we are expecting many successful years ahead!”

Victor Christou, chief executive of CIC, said: “We are delighted to welcome Mike to the CIC team. His arrival further enhances our healthcare investment team, especially given Mike’s knowledge of and connections with large biopharmaceutical companies. I know his skills will be of great benefit to our healthcare portfolio companies and to CIC.”