Empirical Ventures

What does the future of measuring biological interactions look like and how can it be scaled for high-throughput discovery? Exciting Instruments might just have the answer. Today they announce their ￡4m investment round to commercialise their EI-Flex instrumentation. A The University of Sheffield spinout Empirical Ventures is excited to have led on technical due diligence and participated in this investment round alongside lead Northern Gritstone, Praetura Ventures, Meltwind Advisory LLP (Jonathan Milner) and Stan Boland. Having already built and sold instruments into academia Tim Craggs and Robert Bell begin the next phase of their journey. They specialise in developing single-molecule fluorescence resonance energy transfer (smFRET) instrumentation, particularly their EI-FLEX device, which addresses limitations in single-molecule spectroscopy. The EI-FLEX device is compact, user-friendly, and designed to be used outside of dark rooms, which traditional instruments require. It also includes a vibration-suppressing base, making it accessible for non-expert users. Their next commercial device will integrate a plate reader and auto-focuser for high-throughput screening, enhancing its utility in drug development. Their adaptable consumables and modular design provide flexibility to evolve with industry needs, particularly in pharma. Positioning the company to penetrate three major markets: direct academic sales, drug development, and clinical diagnostics. Each market offers substantial growth potential. Thank you to all the parties involved in this deal including our partners Abel + Imray (Tom Turner). A shout out to Jessica McCreadie, Alison Maughan from Northern Gritstone and Vicky Protano and Nina Latham from Mills & Reeve. Internally Curran Kalha, Ph.D. Dr Ben Miles, Ph.D., Trang K. Nguyen, Madeleine Nichols, PhD, Thank you to Alexander Fink, Keith Lipman and Mark Stevenson who supported from our LP network. Thanks to Jordan Fink who made the introduction to Tim and Robert. CAPITAL AT RISK. FOR PROFESSIONAL INVESTORS ONLY https://lnkd.in/eWFUXQbJ

Combining the latest in advanced materials with digitisation of workflows we are delighted to announce our investment in Silveray. Silveray, are using their X-ray sensitive material to develop a detector for digital X-ray imaging, today announce their ￡4m seed investment round, led by Northern Gritstone, with co-investors including Empirical Ventures, Angel co-fund, Deep Tech labs and Hamamatsu Photonics UK Limited Corporate Ventures. A key benefit of digital X-ray images is the increase in productivity, as images can be captured and viewed without an image development step, which is the current workflow for traditional X-ray film. However, digital X-ray solutions are often large and have limited flexibility, restricting the ability to capture high-quality X-ray images in tight spaces or on curved surfaces. Silveray’s material allows them to use direct conversion of the incident X-ray photons, in contrast to other imaging techniques that use indirect conversion.?Consequently, Silveray’s DXF detectors can be thinner and more flexible than other X-ray solutions on the market, making them more suitable to fit into tight spaces and to image curved surfaces, such as for wrapping around pipes to check for corrosion and weld defects. Dan Cathie, CEO of Silveray, said: “Silveray’s initial goal is to digitise radiographic film, so that radiographers are no longer restricted to exposing, developing, viewing, and storing film. Early customer engagement in industry means we are confident of becoming revenue generating in 2025.” Johnathan Matlock, Co-founder of Empirical Ventures, said: “Within the industrial market (aerospace), there is upcoming legislation being enforced that existing records need to be digitised, as well as all future films. Cost saving calculations show how customers can ultimately save money by adopting DXF. As it stands, Silveray’s DXF is the only technology that can replace current X-ray film. We have strong conviction that Silveray has a strong solution market fit in industrial weld monitoring.” This round of investment will be used to finalise the development of Silveray’s X-ray detector in collaboration with industrial partners ahead of expanding into the industrial digital X-ray market.?In parallel, Silveray will also be working closely with groups in the medical sector to identify beneficial applications of their flexible digital X-ray technology for medical imaging.?We are looking forward to working with Dan and the team towards this mission CAPITAL AT RISK, FOR PROFESSIONAL INVESTORS ONLY. https://lnkd.in/ecAvHPd9

1 Week for the Third Edition of the Optica Quantum Industry Summit! 19 – 20 November 2024 Bristol, UK - A global hub for quantum innovation We’re thrilled to bring together top minds in The Investor Panel Discussion of this year’s summit! Don’t miss insights from our speakers: Madeleine Nichols, PhD, Investment Associate at Empirical Ventures Harry Alexander, Investment Manager at QantX Kimberley Brook, Quantum Innovation Specialist at Capital Enterprise This session is part of a dynamic summit featuring keynotes from industry giants, including NVIDIA, Airbus, Cisco, and BT Group. Don’t miss the opportunity to connect, collaborate, and gain exclusive insights from the leaders driving the future of quantum technology. ? Register here: https://lnkd.in/ecGYA3Md

What do you think is required to enable the next generation of neural implants? MintNeuro might just have the answer after securing their first external funding round to develop their innovative semiconductor-based approach for neural implants. Traditional treatments for neurological disorders, like pharmaceuticals, often fall short. Developed at Imperial College London MintNeuro’s scalable, low-power chips are transforming the possibilities of neural implants by making them smaller, more efficient, and accessible for a wider range of neurological conditions. Empirical Ventures is proud to have led this round alongside Parkwalk Advisors, Imperial College London and Plug and Play Tech Center. This funding will accelerate MintNeuro’s chip development and allow it to grow its expert team. The potential is vast: from monitoring epilepsy to treating Parkinson's, dementia, and beyond. The neural implant market is expected to expand rapidly, and we’re proud to support entrepreneurial scientists like MintNeuro's Dorian Haci, PhD and Timothy Constandinou as they pioneer a new era of neurological care. Congratulations to the MintNeuro team, and here’s to reshaping the future of neural technology! #Investment #NeuroTech #Innovation #HealthcareTech #EmpiricalVentures CAPITAL AT RISK FOR PROFESSIONAL INVESTORS ONLY. https://lnkd.in/earKiCZN

Thrilled to share that we’ve been named a finalist for 'Emerging VC of the Year' at the Growth Investor Awards 2024!??? We're delighted to have our early progress recognised and are excited for what's to come next as we continue to support founders developing breakthrough science technologies. Thank you to all our supporters and believers, we've had a very warm welcome from the early stage VC ecosystem. And a big thank you to our investors and all the founders in our portfolio. Looking forward to celebrating with everyone in November and a special thank you to?Mountside Ventures?for hosting us on the night! Dr Ben Miles, Ph.D. Johnathan Matlock Alexander Fink Keith Lipman Curran Kalha, Ph.D. Trang K. Nguyen Madeleine Nichols, PhD Claudia Fryer #venturecapital #investing

Congratulations to portfolio company MitoRx Therapeutics on their recent paper showing really promising results in an mouse obesity model showing the benefits of their mitochondrial sulfide donors surpressing weight gain whilst preserving muscle mass - given the huge focus on GLP-1 programs across pharma these results could be extremely important for the next phase of growth for MitoRx. Congratulations to Jon Rees Norman Law Prof Matt Whiteman Glyn Edwards and the rest of the MitoRx Team. A shout out to our venture partner Alexander Fink who has been supporting the company since its pre-seed round as investor director. https://lnkd.in/enrXaJAE

Calling out to all of our portfolio companies!? ?? We are proud to be supporting the online?DeepTech Demo Day 2024, taking place on?November 7th. With 80+ Deeptech VCs partners ready to check out your engineering and science breakthroughs (and countless angels signing up for the finals). A slide deck and 5' is all you need. If you get scored in the top 10, you'll get to present live (virtually) in November this year in front of all the VCs, corporate partners and angels attending. Invite only private event in London with exited founders, VCs and top corporate investors just for the finalists.? ?? Applications are open now. Don’t miss out on this incredible opportunity: https://lnkd.in/euJFQ4n7

What role does AI have in material discovery? Are there venture scale opportunities or is it really all about the novel material? At Empirical Ventures, we had a lot of questions about the role AI plays in material discovery; 1) Market readiness and adoption - does a lack of computational awareness and skill sets?within wet labs hinder integration into workflows? 2) Tool infrastructure layers or discovery tools e.g. software for biotech vs. drug discovery platforms - does real value only come if you can tie your platform to a particularly valuable material? 3) GenAI versus foundational models - who wins in materials science/versus what is actually required? 4) Feedback of data from testing of materials into the AI platform - how, when and for what purpose? 5) What does the ideal / realistic GTM look like? Thoughts on platform/license vs product/full stack companies?? 6) Many novel materials can't be scaled at a cost competitive price. To what extent can AI solve this and what are the limitations? 7) Surface versus bulk chemistry prediction? 8) Liquid/solid and solid/solid interface prediction depending on the application? So we got together with some investors to scratch the surface and begin to explore AI in material discovery. Thank you to everyone below for your valuable insights and knowledge Pina Fritz, PhD Deep Science Ventures Aashna Gupta Dorilton Ventures Perman Jorayev, Ph.D. Verve Ventures Rockman Law Intel Ignite James Garcia Speedinvest Clara Ricard Transition Nicola Sinclair Twin Track Ventures Amy N. Octopus Ventures Steve Chasan

At Empirical Ventures, we’ve developed strong conviction in QV Bioelectronics because of the game-changing progress they’re making in Glioblastoma treatment. They’ve just announced breakthrough pre-clinical safety and efficacy results for their revolutionary therapy and are now raising their Series A round. We are actively looking for VC syndication partners. Get in contact if you would like to be introduced to Christopher Bullock. You can read more about the latest results in the press release below. https://lnkd.in/en5qGVud

Check out the latest website from portfolio company CheMastery Group Ltd. The future of chemistry automation is here. https://lnkd.in/eexHmy8A