Imperagen, a Manchester-based life sciences spin-out, has successfully secured £5 million in seed funding to enhance its enzyme engineering capabilities through AI and quantum physics technologies.
The funding round, led by PXN Ventures and supported by existing investors IQ Capital and Northern Gritstone, brings Imperagen's total funding to £8.5 million. This capital will enable the company to expand its research and development efforts, enhance its wet lab capabilities, and strengthen its market presence over the next 18 months. Notably, Guy Levy-Yurista has been appointed as the new CEO, bringing extensive experience in scaling DeepTech businesses across the US and Europe.
Imperagen's innovative platform aims to streamline the enzyme engineering process, which is crucial for various industries, including pharmaceuticals, personal care, and sustainable chemicals. The company plans to utilize the new funds to grow its in-house AI team and convert increasing commercial interest into revenue across its target sectors.
Levy-Yurista emphasized the importance of AI-native companies in the evolving landscape, stating that Imperagen embodies the characteristics needed to thrive in this environment. The company’s growth is expected to benefit the North West's life sciences ecosystem, leveraging its connections with the University of Manchester.