Epidarex Capital has launched a new drug discovery initiative providing seed funding and hands-on support to nurture fledgling projects.

Epidarex Capital, a UK-based specialist life sciences VC firm whose focus includes spinouts, unveiled a new drug discovery program yesterday aimed at sustaining early-stage projects until they become investable assets.
Epidarex Exeed will mature portfolio projects over 12 to 18 months with resources including seed funding from Epidarex as they prepare their proposals to secure series A capital from traditional venture capital investors.
In addition to funding, Exeed will lend active assistance to derisk its selected concepts, working in tandem with drug discovery programs, project management teams and contract research organisations.
Exeed’s leadership is headed by CEO Henning Steinhagen, a member of the Epidarex board of directors who was previously president of R&D at drug discovery service company Aptuit.
Steinhagen said: “There is a clear need for early-stage capital and capabilities that can validate and progress breakthrough life science innovation to a point where traditional VC investors are ready to fund companies and lead series A investments. Epidarex Exeed will help to fulfill that need.”
Founded in 2010, Epidarex Capital backs UK and US-based life sciences and health tech businesses, with what it describes as  “particular emphasis” on university businesses and under-ventured segments that address unmet healthcare needs.
Epidarex’s academic scope strengthened in 2014 with the launch of a $79.5m UK-focused venture fund backed by King’s College London, University of Glasgow, University of Edinburgh and University of Aberdeen.
Pharmaceutical firm Eli Lilly also invested, marking its first commitment to a UK-focused venture fund in a move viewed as boosting the country’s biotech industry following the fallout from the financial crisis.
Epidarex’s recent spinout investments have included metabolic disease therapy business Caldan Therapeutics – which extends University of Glasgow and University of Southern Denmark research – and Igem Therapeutics, a King’s College London immuno-oncology spinout.