British Patient Capital

British Patient Capital Limited is a venture capital arm of British Business Bank PLC, established in 2018 and headquartered in Sheffield, with an additional office in London. The company specializes in seed, early venture, mid venture, and growth capital investments, focusing on a diverse range of sectors including information technology, healthcare, financial services, and energy. British Patient Capital primarily invests in UK-based ventures but is also open to global opportunities. The firm aims to finance innovative companies and promote long-term investment strategies that yield competitive returns. It also emphasizes the importance of attracting additional investors to the venture capital space through its commitment to delivering value and managing risk.

Mark Andrews

Investment Director, Life Sciences, Funds

Robert Greenwood

Investment Director, Funds

Tom Haywood

Managing Director, Direct Investments

Jake Hobbs

Investment Manager, Life Sciences, Funds

Christine Hockley

Managing Director, Funds

Emma Johnson

Senior Investment Manager, Life Sciences, Direct and Co-Investment

Max Middleton

Senior Investment Manager, Direct and Co-Investment

35 past transactions

Maxion Therapeutics

Series A in 2025
Maxion Therapeutics is a biopharmaceutical company focused on developing innovative therapies for diseases driven by ion channels and G protein-coupled receptors (GPCRs). The company utilizes a unique drug discovery platform that integrates ion channel-modulating mini-proteins, known as knottins, derived from venom and other natural sources. By combining these knottins with antibody frameworks, Maxion aims to create long-acting, safe, and effective therapeutics that address previously inaccessible medical targets. This approach enables the potential treatment of various conditions, including chronic pain, autoimmune disorders, and heart disease, ultimately enhancing patient care through advanced drug development.

Quantexa

Series F in 2025
Quantexa Limited is a global data and analytics software company based in London, United Kingdom, specializing in Contextual Decision Intelligence. Incorporated in 2016, Quantexa develops advanced entity resolution and network analytics technology that empowers organizations to improve their operational decisions by unifying siloed data and generating a comprehensive view of internal and external information. Its platform leverages artificial intelligence to uncover hidden risks and opportunities, providing critical insights into the relationships between individuals, organizations, and locations. Quantexa's solutions address challenges in areas such as fraud prevention, anti-money laundering, compliance, and customer insights, serving clients across financial services, corporate sectors, and public organizations worldwide. The company has established a strategic alliance with Accenture to enhance its offerings and expand its market reach.

Cambridge GaN Devices

Series C in 2025
Cambridge GaN Devices specializes in the design, development, and commercialization of gallium nitride (GaN) power devices aimed at enhancing energy efficiency across various electronic applications. The company produces a range of GaN-based semiconductor products that significantly improve power conversion and minimize energy loss in systems used in sectors such as renewable energy, electric vehicles, and consumer electronics. These transistors are characterized by their speed, reduced power loss, smaller size compared to traditional silicon alternatives, and greater energy storage and conversion capabilities. By collaborating with industry partners, Cambridge GaN Devices promotes innovation and facilitates the adoption of its advanced technology within the power semiconductor market, contributing to the advancement of greener technologies.

Tenpoint Therapeutics

Venture Round in 2024
Tenpoint Therapeutics is a biotechnology company dedicated to developing engineered cell-based therapies aimed at restoring vision for individuals affected by degenerative ocular diseases. The company leverages an innovative platform that includes in vivo reprogramming techniques, allowing for targeted delivery of therapeutic systems directly to the eye. This approach eliminates the need for systemic administration, which can improve treatment efficacy and patient outcomes. By focusing on vision restoration, Tenpoint Therapeutics strives to significantly enhance the quality of life for patients suffering from various eye conditions.

Tokamak Energy

Venture Round in 2024
Tokamak Energy Ltd is a private company based in Abingdon, United Kingdom, focused on the development of fusion power technology. Founded in 2009, the company specializes in creating compact and cost-effective fusion power devices, particularly through the use of spherical tokamaks. These innovative reactors are designed to achieve higher plasma pressure with reduced magnetic field requirements compared to traditional tokamaks. Tokamak Energy utilizes high-temperature superconducting magnets to enhance plasma control within its devices, thereby improving efficiency. The company's commitment to rapid innovation leverages advanced materials and technology, building on decades of scientific research. By aiming to develop commercial fusion power solutions, Tokamak Energy contributes to the pursuit of affordable and sustainable energy, addressing global energy security while minimizing environmental impact.

Purespring

Series B in 2024
Purespring Therapeutics is a biotechnology company specializing in the development of gene therapies for various kidney diseases. It focuses on targeting podocytes, specialized cells within the kidneys, using adeno-associated virus (AAV) vectors. The company aims to address unmet needs in renal conditions and has established an in-vivo functional screening platform to identify protective factors that could potentially benefit multiple kidney diseases.

Form3

Series C in 2024
Form3 is a London-based company that provides cloud-based payment processing, clearing, and settlement services specifically designed for regulated financial institutions. Founded in 2016, it offers a fully managed payment technology service that leverages a robust AWS cloud processing platform and multiple payment gateways, ensuring 24/7 operational support. The company's micro-services architecture and application programming interfaces enable clients to access a wide array of payment schemes seamlessly. Form3's client base includes a diverse range of financial entities, such as leading banks, non-bank financial institutions, and fintech companies, including payment institutions and e-money providers. This innovative approach allows businesses to utilize reliable and secure payment services on a per-transaction commercial model without upfront costs.

Epsilogen

Series B in 2024
Epsilogen Ltd is an immuno-oncology company based in London, United Kingdom, founded in 2016. The company specializes in developing immunoglobulin E (IgE) antibodies aimed at treating cancer. Epsilogen offers a portfolio of IgE candidates that specifically target cancer antigens such as HER2, EGFR, and PD-L1. Its innovative IgE platform supports the development and validation of novel antibodies, allowing for enhanced potency, improved tumor access, and a prolonged presence in tissue. This focus on IgE-based therapies positions Epsilogen to provide effective treatment options for patients with solid tumors.

Microbiotica

Venture Round in 2024
Microbiotica Limited is a biotechnology company based in Cambridge, United Kingdom, focused on discovering and developing human microbiome-based therapeutics. Founded in 2016, the company operates a platform that identifies gut bacteria associated with specific phenotypes from clinical trial samples. This advanced platform allows researchers to pinpoint gut bacteria with high precision, facilitating the development of live bacterial therapeutics and biomarkers. By enabling the identification of phenotypes prior to testing candidate bacteria in sophisticated human in vitro and in vivo models, Microbiotica aims to advance the understanding and application of microbiome science in therapeutic contexts.

Greywolf Therapeutics

Series B in 2024
Grey Wolf Therapeutics is a biotechnology company based in Oxford, United Kingdom, focused on developing innovative immunotherapies for oncology. Founded in 2017, the company aims to enhance the visibility of non-responsive tumors to the immune system by directly modifying tumor cells. Its approach involves targeting endoplasmic reticulum aminopeptidases (ERAP) 1 and 2 within the antigen presentation pathway, which increases the neoantigen repertoire on tumor cells. This strategy is designed to improve the effectiveness of immunotherapy in treating cancer. Grey Wolf collaborates with leading academic and commercial partners to advance its drug discovery initiatives and deliver clinical candidates against well-validated targets in the field of immuno-oncology.

Wagestream

Venture Round in 2024
Wagestream Ltd., founded in 2018 and headquartered in London, United Kingdom, develops a financial services application designed to enhance employee benefits and financial well-being. The platform allows employees to access their earned wages instantly, providing them with greater control over their pay schedules. This innovation aims to alleviate financial stress related to unexpected expenses by eliminating the need for advances, loans, and the burdens of high-interest credit or payday loans. Additionally, Wagestream offers various financial tools that help businesses support their employees in managing expenses, setting savings goals, and developing financial plans. By addressing these financial challenges, Wagestream seeks to reduce the poverty premium and prevent employees from falling into cycles of debt.

Phagenesis

Series D in 2024
Phagenesis Limited is a medical device company based in Manchester, United Kingdom, founded in 2007. It focuses on developing innovative technology to treat dysphagia, a condition often associated with stroke and brain injuries that impairs safe swallowing. The company's flagship product, Phagenyx, consists of a base station that delivers targeted electrical stimulations to patients while recording and storing their information, and a catheter that is introduced through the nose to stimulate the pharynx. This approach leverages the brain’s neuroplasticity, enabling patients to relearn essential swallowing functions that may have been lost due to brain damage. Phagenesis aims to improve the recovery process for stroke patients in acute care settings by utilizing a method developed by Prof. Shaheen Hamdy of the University of Manchester, which has been validated through publication in reputable scientific and medical journals.

Curve Therapeutics

Series A in 2024
Curve Therapeutics Limited, established in 2019 and based in London, specializes in drug discovery with a focus on cancer. The company has developed an innovative screening platform that enables functional screening of diverse libraries against disease-associated targets within their native cellular environment. This platform is used to build a pipeline of novel cancer drugs targeting currently undruggable targets.

Tenpoint Therapeutics

Series A in 2023
Tenpoint Therapeutics is a biotechnology company dedicated to developing engineered cell-based therapies aimed at restoring vision for individuals affected by degenerative ocular diseases. The company leverages an innovative platform that includes in vivo reprogramming techniques, allowing for targeted delivery of therapeutic systems directly to the eye. This approach eliminates the need for systemic administration, which can improve treatment efficacy and patient outcomes. By focusing on vision restoration, Tenpoint Therapeutics strives to significantly enhance the quality of life for patients suffering from various eye conditions.

OMass Therapeutics

Series B in 2023
OMass Therapeutics Limited is a biotechnology company based in Oxford, United Kingdom, established in 2016. The company specializes in drug discovery, utilizing structural mass spectrometry technology to develop innovative therapeutics aimed at difficult disease targets. Its platform allows clients to access native mass spectrometry without the need for sophisticated instrumentation or in-house expertise. This capability enables the study of complex protein assemblies and their interactions with other biological molecules, facilitating the development of drugs and biotherapeutics. OMass Therapeutics aims to provide a dynamic and collaborative environment for biotechnology and pharmaceutical clients to address challenging drug targets effectively.

Quantexa

Series E in 2023
Quantexa Limited is a global data and analytics software company based in London, United Kingdom, specializing in Contextual Decision Intelligence. Incorporated in 2016, Quantexa develops advanced entity resolution and network analytics technology that empowers organizations to improve their operational decisions by unifying siloed data and generating a comprehensive view of internal and external information. Its platform leverages artificial intelligence to uncover hidden risks and opportunities, providing critical insights into the relationships between individuals, organizations, and locations. Quantexa's solutions address challenges in areas such as fraud prevention, anti-money laundering, compliance, and customer insights, serving clients across financial services, corporate sectors, and public organizations worldwide. The company has established a strategic alliance with Accenture to enhance its offerings and expand its market reach.

CyberSmart

Series B in 2023
CyberSmart Ltd., established in 2016 and headquartered in London, specializes in designing and developing automated compliance software platforms. The company offers a suite of products, including Cyber Essentials, Cyber Essentials Plus, GDPR Ready, CyberSmart Platform, and certOS, which help businesses identify, secure, and certify security incidents. Its cloud-based dashboard manages the compliance process, while desktop applications deployed across networks monitor compliance status and detect non-conformities. Additionally, CyberSmart provides ongoing protection through regular security checks and cyber insurance coverage, targeting small to medium-sized businesses seeking to mitigate cyber threats and navigate evolving regulations.

Quantum Motion

Series B in 2023
Quantum Motion Technologies specializes in developing a universal quantum computer utilizing silicon-based architectures compatible with CMOS processes. The company focuses on creating scalable quantum computing technology that addresses key challenges such as fault tolerance and qubit redundancy. By leveraging complementary metal-oxide semiconductor technology, Quantum Motion aims to enhance the density of qubits, enabling the construction of larger and more efficient quantum systems. This advancement is intended to facilitate significant improvements in quantum computing applications, assisting clients in the quantum technology sector to minimize errors and overcome critical challenges in quantum information and technology.

Greywolf Therapeutics

Series B in 2023
Grey Wolf Therapeutics is a biotechnology company based in Oxford, United Kingdom, focused on developing innovative immunotherapies for oncology. Founded in 2017, the company aims to enhance the visibility of non-responsive tumors to the immune system by directly modifying tumor cells. Its approach involves targeting endoplasmic reticulum aminopeptidases (ERAP) 1 and 2 within the antigen presentation pathway, which increases the neoantigen repertoire on tumor cells. This strategy is designed to improve the effectiveness of immunotherapy in treating cancer. Grey Wolf collaborates with leading academic and commercial partners to advance its drug discovery initiatives and deliver clinical candidates against well-validated targets in the field of immuno-oncology.

Perspectum

Series C in 2023
Perspectum is a global medical technology company dedicated to enhancing patient care for individuals with liver disease, diabetes, and cancer. The company specializes in precision medicine, utilizing advanced imaging and genetics to provide clinicians with quantitative health assessments. This approach enables early detection, accurate diagnosis, and targeted treatment of complex health issues. Perspectum's team comprises physicians, biomedical scientists, engineers, and technologists who work together to manage these conditions at scale, empowering both patients and healthcare providers.

Pragmatic

Series C in 2022
Pragmatic is a developer of ultra-low-cost flexible integrated circuits, known as FlexICs, which are thinner than human hair and can be seamlessly embedded in various objects. This innovative technology allows designers to create application-specific flexible devices efficiently and at a fraction of the cost and time compared to traditional silicon circuits. Pragmatic also offers standard FlexIC products that enhance established applications like RFID and NFC, facilitating the creation of smart objects that can interact with consumers and their environments. The company's manufacturing is powered by the FlexLogIC production system, which enables cost-effective, high-volume production with significantly lower capital investments compared to conventional silicon fabrication methods. Pragmatic's technology is being increasingly adopted by a diverse range of global companies in markets such as consumer goods, retail, healthcare, pharmaceuticals, gaming, and security. Headquartered in Cambridge, UK, Pragmatic operates its first billion-unit production facility in Sedgefield.

Nucleome Therapeutics

Series A in 2022
Nucleome Therapeutics Limited is a biotechnology company based in Oxford, United Kingdom, founded in 2019. The company focuses on decoding the "dark matter" of the human genome, which comprises over 95% of disease-linked genetic variants that have not yet been fully explored. By leveraging a unique platform that creates high-resolution three-dimensional genome structure maps and employs machine learning techniques, Nucleome aims to link these genetic variants to gene functions and map disease pathways. This innovative approach facilitates the functional validation of variants in primary cell types, enabling the discovery and development of novel therapeutics. Initially concentrating on lymphocytes and autoimmune diseases, Nucleome Therapeutics seeks to establish a robust pipeline of drug assets along with corresponding biomarkers to improve patient outcomes through genetically guided therapeutics.

Oxford Quantum Circuits

Series A in 2022
Oxford Quantum Circuits is a developer of advanced quantum computing technology that aims to address significant global challenges, such as climate change and drug discovery. The company focuses on creating unique superconducting circuits essential for quantum computation, ensuring high-quality qubit control and maintaining operational efficiency. Their quantum computers are fully integrated units, comprising the necessary control systems, hardware, and software, which enable customers to enhance their operations, innovate new methodologies, and tackle pressing issues. Through its pioneering technology, Oxford Quantum Circuits contributes to groundbreaking advancements that hold the potential for transformative impacts across various industries.

CloudNC

Series B in 2022
CloudNC Ltd. is a London-based company that develops advanced software to automate the programming of numerically controlled (NC) machine tools, particularly focusing on computerized numerical control (CNC) milling machines. Founded in 2015, the company aims to transform the manufacturing industry by enabling factories to autonomously produce precision parts, which are essential for various sectors, including automotive, aerospace, and technology. By streamlining the production process, CloudNC's technology reduces the need for skilled human intervention, allowing for more efficient and sustainable manufacturing practices. The company seeks to enhance productivity and scalability, ultimately making manufacturing ten times more efficient than current standards. Through its innovative approach, CloudNC is positioned to revitalize the manufacturing landscape and contribute to a cleaner, more sustainable industrial revolution.

Proximie

Series C in 2022
Proximie Inc., headquartered in Bedford, Massachusetts, operates a health technology platform that facilitates remote, real-time collaboration among surgeons worldwide. The company's core service enables surgeons to virtually attend operations via augmented reality, artificial intelligence, and machine learning technologies. This allows them to visually guide complex surgeries, demonstrate techniques, and provide expertise remotely, thereby democratizing access to advanced surgical knowledge globally. Founded by Nadine Hachach-Haram in 2016, Proximie aims to enhance surgical outcomes and improve patient care through innovative telehealth solutions.

Epsilogen

Series B in 2022
Epsilogen Ltd is an immuno-oncology company based in London, United Kingdom, founded in 2016. The company specializes in developing immunoglobulin E (IgE) antibodies aimed at treating cancer. Epsilogen offers a portfolio of IgE candidates that specifically target cancer antigens such as HER2, EGFR, and PD-L1. Its innovative IgE platform supports the development and validation of novel antibodies, allowing for enhanced potency, improved tumor access, and a prolonged presence in tissue. This focus on IgE-based therapies positions Epsilogen to provide effective treatment options for patients with solid tumors.

Microbiotica

Series B in 2022
Microbiotica Limited is a biotechnology company based in Cambridge, United Kingdom, focused on discovering and developing human microbiome-based therapeutics. Founded in 2016, the company operates a platform that identifies gut bacteria associated with specific phenotypes from clinical trial samples. This advanced platform allows researchers to pinpoint gut bacteria with high precision, facilitating the development of live bacterial therapeutics and biomarkers. By enabling the identification of phenotypes prior to testing candidate bacteria in sophisticated human in vitro and in vivo models, Microbiotica aims to advance the understanding and application of microbiome science in therapeutic contexts.

Thought Machine

Series C in 2021
Thought Machine is a fintech company focused on transforming core banking through cloud-native technology. The company addresses a significant challenge in the banking sector: the reliance on outdated IT infrastructure that hinders innovation and customer service. To tackle this issue, Thought Machine has developed Vault, a comprehensive retail banking platform built from the ground up using a cloud-native, microservice API architecture. Vault can be easily configured to meet the specific needs of various banks, allowing them to enhance their product offerings, user experience, operating models, and data analysis capabilities. With a strong emphasis on engineering excellence, Thought Machine aims to drive a substantial shift in the banking industry by enabling financial institutions to adopt modern systems and deliver improved technology to their customers.

Quell Therapeutics

Series B in 2021
Quell's vision is to become a leading engineered Treg cell therapy company. The company will seek to develop next generation engineered T-regulatory cell (Treg) therapies for a range of solid organ transplant and autoimmune conditions. Quell has been founded by Syncona in partnership with six leading experts in the Treg field, cell engineering, solid organ transplantation and autoimmune diseases: Giovanna Lombardi, Professor of Human Transplant Immunology at Kings College London (KCL), Alberto Sanchez-Fueyo, Professor of Hepatology in the Institute of Liver Studies at KCL, Hans Stauss, Professor of Tumour Immunology and Director of the Institute of Immunity and Transplantation at University College London (UCL), Emma Morris, Professor of Clinical Cell & Gene Therapy and Inflammation, Immunity and Immunotherapeutics Theme Director, National Institute for Health Research University College London Hospitals Biomedical Research Centre, Marc Martinez-Llordella, Senior Lecturer in the Institute of Liver Studies at KCL and Elmar Jaeckel, Co-Leader Liver Transplant program MHH, Group Leader "Immune tolerance" in the Department of Gastroenterology, Hepatology and Endocrinology at Hannover Medical School.

Ultraleap

Series D in 2021
Ultraleap Limited is a leading developer of mid-air haptic control systems and 3D hand tracking technology. Formerly known as Ultrahaptics, the company specializes in creating solutions that utilize ultrasound to generate tactile sensations, enabling users to feel three-dimensional shapes and textures without physical contact. Its flagship products include the Leap Motion Controller, which captures hand movements, and the VR Developer Mount, designed for enhancing virtual reality experiences on various headsets. The company's innovative technology is applicable across multiple industries such as extended reality, automotive, digital signage, industrial automation, consumer electronics, and location-based entertainment. Established in 2013 and headquartered in Bristol, United Kingdom, Ultraleap also has a subsidiary in Silicon Valley, United States.

Accurx

Series B in 2021
Accurx is a healthcare communication platform that facilitates seamless interaction between patients and healthcare professionals. The platform allows users to send SMS messages, administer medical surveys, issue appointment reminders, and manage referrals. It also supports video consultations and the oversight of virtual wards, outpatient clinics, and follow-up pathways. Accurx is widely adopted, utilized by 98% of GP practices and over 50% of NHS trusts, thereby enhancing efficiency in primary care and improving patient engagement. The company's tools are designed to simplify and streamline communication, making it easier for medical professionals to connect with their patients effectively.

Quantexa

Series D in 2021
Quantexa Limited is a global data and analytics software company based in London, United Kingdom, specializing in Contextual Decision Intelligence. Incorporated in 2016, Quantexa develops advanced entity resolution and network analytics technology that empowers organizations to improve their operational decisions by unifying siloed data and generating a comprehensive view of internal and external information. Its platform leverages artificial intelligence to uncover hidden risks and opportunities, providing critical insights into the relationships between individuals, organizations, and locations. Quantexa's solutions address challenges in areas such as fraud prevention, anti-money laundering, compliance, and customer insights, serving clients across financial services, corporate sectors, and public organizations worldwide. The company has established a strategic alliance with Accenture to enhance its offerings and expand its market reach.

Thought Machine

Series B in 2020
Thought Machine is a fintech company focused on transforming core banking through cloud-native technology. The company addresses a significant challenge in the banking sector: the reliance on outdated IT infrastructure that hinders innovation and customer service. To tackle this issue, Thought Machine has developed Vault, a comprehensive retail banking platform built from the ground up using a cloud-native, microservice API architecture. Vault can be easily configured to meet the specific needs of various banks, allowing them to enhance their product offerings, user experience, operating models, and data analysis capabilities. With a strong emphasis on engineering excellence, Thought Machine aims to drive a substantial shift in the banking industry by enabling financial institutions to adopt modern systems and deliver improved technology to their customers.

Quantexa

Series C in 2020
Quantexa Limited is a global data and analytics software company based in London, United Kingdom, specializing in Contextual Decision Intelligence. Incorporated in 2016, Quantexa develops advanced entity resolution and network analytics technology that empowers organizations to improve their operational decisions by unifying siloed data and generating a comprehensive view of internal and external information. Its platform leverages artificial intelligence to uncover hidden risks and opportunities, providing critical insights into the relationships between individuals, organizations, and locations. Quantexa's solutions address challenges in areas such as fraud prevention, anti-money laundering, compliance, and customer insights, serving clients across financial services, corporate sectors, and public organizations worldwide. The company has established a strategic alliance with Accenture to enhance its offerings and expand its market reach.
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