Glen Clova Scientific raises £4M to combat autoimmune diseases

Scottish biotech startup Glen Clova Scientific has closed a £4M Seed round, led by Norcliffe Capital. The investment will be made in two tranches of £2.5m and £1.5m.

Founded in 2022 as a spin out from the University of Dundee, GCS is developing drugs for chronic inflammatory and autoimmune disorders. The funding enables the Company to advance preclinical development of three initial drugs: GCS001 for treatment of senile pruritus, GCS002 for atopic dermatitis and GCS003 for eczema and asthma.

The company has developed a technology platform underpinning its product development pipeline and GCS’ technology will be exploited in several non-pharmaceutical markets through partnerships. DSW Ventures, TRICAPITAL Angels and Scottish Enterprise also participated in the round.

Steven Powell, co-founder of Glen Clova Scientific, commented: “Our GCS VLP platform has the potential to produce a new generation of active biologic drugs offering both enhanced performance and a simpler, more cost-effective manufacturing process compared with existing biologic drugs.

"We believe that these drugs can have a significant impact on large patient populations with poorly met medical needs. We are delighted to have attracted support from a syndicate of high-quality, experienced investors to finance the development of our drug development pipeline and the continued expansion of our proprietary technology platform.”