Glen Clova Scientific has closed a £4m seed financing round, led by Norcliffe Capital, with investment from DSW Ventures, TRICAPITAL Angels and Scottish Enterprise.
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, the business is developing a new generation of active biologic drugs for chronic inflammatory and autoimmune disorders.
The money should help advance the preclinical development of its three initial drug candidates: GCS001 for treatment of senile pruritus, GCS002 for atopic dermatitis and GCS003 for eczema and asthma.
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