Deepbridge Life Sciences SEIS Exceeds Expectations
Tax-efficient investment specialist Deepbridge has today announced that the Deepbridge Life Sciences SEIS in 2015/16 raised £2m, representing a 33% over subscription on the original target raise.
The Deepbridge Life Sciences SEIS was launched in 2015 with the objective of providing a credible diversified approach to investing in early stage pharmaceutical, biotechnology and medical technology companies. Each investor is invested in up to ten companies carefully selected by the Deepbridge team led by Deepbridge Partners Dr Savvas Neophytou and Professor Chris Wood.
Companies within the portfolio include; cancer research, healthcare monitoring technology, drug design, glaucoma technology, Parkinsons drug development and catheter technology.
Dr Savvas Neophytou, Partner and Head of Life Sciences at Deepbridge Capital, commented:
“We are delighted with the response to the Deepbridge Life Sciences SEIS and to be able to confirm investment in 12 early stage life sciences companies. We have searched widely for the right investment opportunities. 126 companies from across the UK reached our due diligence stage, from which we then identified the 12 companies we required to ensure investment of the £2m raised. The quality of the pipeline of investee companies enabled us to extend our fund raising to accommodate the fantastic demand from financial advisers and investors. We now look forward to working with the investee companies in order to deliver their growth ambitions and maximise returns for our investors.”
Keith Taylor, Managing Director at TaylorFrost Wealth Management Ltd, added:
“The Deepbridge Life Sciences SEIS represents a credible SEIS solution for some of our clients. We provide financial advice to a number of medical practitioners and these clients have an understanding of the types of investment being made and the potential opportunities life science investments can offer. The generous tax incentives available under SEIS are also appealing, as well as the Deepbridge approach of taking their fees from the investee companies in order that the investor’s money is 100% eligible for any potential tax reliefs.”
Dr Savva Neophytou, Head of Life Sciences at Deepbridge