ARTICLE | Finance

Flexible funding for CRT

CRT Pioneer Fund's plans for its latest cash influx

December 22, 2014 8:00 AM UTC

CRT Pioneer Fund's latest close triples the number of cancer programs the fund can move through development compared with its expectations when it launched two years ago.

Last week's £20 million ($31.4 million) investment by BACIT Ltd. (LSE:BACT) brings the fund to £70 million ($110 million) and came in conjunction with the fund's fifth investment, a deal with cancer immunotherapy play Chroma Therapeutics Ltd. Unlike traditional funds that take equity stakes, the Pioneer Fund in-licenses programs and finances development through Phase I testing, primarily for molecules coming out of Cancer Research Technology Ltd.'s discovery labs and academic network...