Scotland has become increasingly attractive for entrepreneurs and startups looking to make a name for themselves. With its bustling cities, diverse investment opportunities, strong talent networks, and vibrant business landscape, Scotland is becoming an internationally recognized hub of innovation and entrepreneurship.
As the country continues to bolster its startup resources and support systems, more Scottish-based businesses are emerging with creative solutions that tackle global challenges and showcase the immense potential of this dynamic economy. In this first of a series of blog posts, we’ll take a closer look at Amphista Therapeutics, a Glasgow based startup with a focus on biotechnology and treatment of disease.
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An Overview
Amphista Therapeutics is a Scotland-based startup company that specializes in the development of targeted biotherapeutics to treat infectious diseases. Founded in 2017, the company dedicated its research and development activities to discovering and developing novel treatments for bacterial infections, as well as other disease areas. Backed by venture capital investment, Amphista Therapeutics is working with leading academic institutions and top clinical researchers to bring new treatments to patients quickly. Their team brings together experts in drug discovery and development, medicinal chemistry, biology and immunology who are committed to delivering innovative therapies for infectious diseases.
The company focuses on harnessing the power of biologics and small molecules to develop antibiotics that can be used safely and effectively. They are also engaged in efforts to identify new targets for their therapies that can be used in combination therapies or as stand-alone treatments. In addition, Amphista Therapeutics is exploring novel approaches to improve patient outcomes by combining their therapies with other medicines or technologies such as vaccines or diagnostics. Ultimately, they aim to provide more effective treatments for patients suffering from infectious diseases worldwide.
A Closer Look at Amphista Therapeutic’s Investment
In 2021 Amphista raised a Series B funding round of £38 Million, led by Venture capital firms and other institutions such as Forbion, Glide Healthcare and Novartis venture fund. Glide was one of the Co-Leading Investors into this round, and Stefan Luzi (Parter at Glide) said, “Amphista emerged as the best-in-class protein degradation company in our comprehensive landscaping effort. We believe this team, who are pioneers in this field, combined with a truly unique platform, will unlock the full therapeutic potential of a broad range of disease targets. Amphista represents a strong fit with Gilde’s longstanding strategy of identifying Europe’s leading science and of engaging with experienced drug developers to build and support high growth (bio)pharma companies.”
In April 2020 Amphista raised their Series A round totalling $7.5 million through the following participants: Advent Life Sciences, the Scottish Investment Bank, the European Investment Fund and US-based BioMotiv. This round provided the capital and resources to continue research and development of biotechnology solutions, which ultimately allowed the company to grow enough to raise a £38 million Series B just a year later!
Why are Biotechnology Startups so Important?
Biotechnology startups are becoming increasingly important in today’s world because their research and development fuels innovation that improves treatments for illnesses, develops new solutions to environmental issues, and creates opportunities for economic growth. For instance, biotechnologies have made it possible to treat diseases like HIV and Alzheimer’s, which would otherwise be incurable. Amphista is a great example of this development, specifically through TPD Therapeutics technology which has the potential to help tackle tumours and other diseases. Furthermore, biotechnologies are enabling scientists to combat climate change with new solutions such as bioenergy sources.
Finally, businesses that specialize in biotechnology employ many people, generating jobs and expanding the economy. Biotechnology is thus a critical field not only because of its potential to improve the quality of life but also because of its positive impact on the economy.
In conclusion, Amphista Therapeutics is a Glasgow based biotechnology startup that holds the potential to revolutionise disease treatment. They have raised an impressive amount of funding (nearly £50 million) from investors, which demonstrates the credibility of their venture. Startups such as Amphista are great examples of the exciting opportunities that are emerging in Scotland’s technology and startup sector. With similar startups and entrepreneurs showing impressive growth and scope, Scotland is proving to be an inspiring hub for innovative new participants in the global tech space. The success of ambitious goal-setters like Amphista Therapeutics will undoubtedly help contribute to Scotland’s ever-growing influence in the global tech and business industry. Keep an eye out for more insights into Scottish Startups in our series.
We have partnered with Exporaise to bring a series of ‘Insights into Scottish Startups.’ We will be publishing regular articles, each one providing an overview into the growth and development of a Scottish startup company! Our first article is on the Glasgow-based biotech startup Amphista Therapeutics.