Tem Rea has been appointed as non-executive director of BGF. The news was announced today.
Rea has been active in the venture capital and start-up ecosystem for over 20 years across a broad range of sectors, stages and geographies. He is particularly passionate about the application of new, disruptive technologies into the healthcare and life sciences ecosystems.
An investor at BGF, the UK and Ireland’s most active investor in growing businesses, Tim has supported the process of expanding BGF’s support for the life sciences sector, working across its 14 regional offices and with a focus on diagnostics. PredictImmune is BGF’s eighth life sciences investment in the last 12 months.
BGF joined existing investors Parkwalk, Cambridge Enterprise and new investor, Cambridge Innovation Capital, in PredictImmune’s Series B funding round, which completed in July 2019. The £10m investment, which cemented PredictImmune’s solid financial position, will enable PredictImmune to focus on continued global commercial expansion and expand its horizons in terms of product development.
Rea commented: “As an active investor in diagnostics, we are excited to support PredictImmune’s innovative approach to forecasting the progression of disease. The business is poised to grow quickly to take advantage of demand from a thriving market, and a decade of research from highly-dedicated academic and management teams has been effectively translated into a tool that will materially impact the lives of those afflicted with IBD.
“The diagnostics landscape has changed dramatically in recent years, particularly around early prognosis and disease management. We are pleased to be welcoming another exciting business to the BGF portfolio and I am looking forward to working alongside Paul and the team to help deliver their vision.”
Paul Kinnon, CEO, PredictImmune added: “I am delighted to welcome Tim to the board. His experience as an active investor in diagnostics and belief in the ability of key diagnostic breakthroughs that enable a more personalised approach to treatment, to drive exciting life science developments is a perfect fit with PredictImmune’s mindset and objectives. We are looking forward to Tim’s input as we push towards our goal of enabling improved treatment choice in patients diagnosed with debilitating diseases such as IBD.”
Immune-mediated diseases, such as IBD are chronic and incurable with clinical courses that vary between individuals with the same disease. PredictImmune spun out of the University of Cambridge in 2017 and its first prognostic product, PredictSURE IBD™, is the world’s first, truly validated and CE-marked prognostic test for guiding treatment options in IBD (Crohn’s disease and ulcerative colitis).