PraeSeed Programme Unveils Third Cohort with £1.6M Funding for Northern England's Deep Tech and Life Sciences Startups
核心洞察
PXN Ventures (搜索)' PraeSeed programme has selected 13 early-stage companies for its third cohort, with deep tech and life sciences firms dominating the intake.
Up to eight companies will each receive £200,000 in equity investment from the Northern Powerhouse Investment Fund II, managed by PXN Ventures (搜索).
The six-week investor readiness programme includes workshops, mentoring, and finance sessions, culminating in a September investor showcase.
PXN Ventures (搜索) has unveiled the third cohort of its PraeSeed investor readiness programme, selecting 13 early-stage companies from across the North of England with a pronounced emphasis on deep tech and life sciences innovation. The programme, backed by the British Business Bank (搜索)'s Northern Powerhouse Investment Fund II (NPIF II), offers a total funding pot of up to £1.6 million, with as many as eight companies each receiving £200,000 in equity investment.
The six-week programme commenced on June 8 and will run through to September, when cohort members will pitch to angel investors and venture capital firms at an investor showcase. Past events have drawn over 100 guests from organisations including NatWest, Innovate UK, Manchester Angels, and Fhunded Angels.
Dr Elizabeth Young, PraeSeed lead and investment manager at PXN, said: "The North of England is teeming with exceptional founders creating solutions to global problems. They've established businesses that leverage their specialist skill and knowledge, but a lack of 'first-cheque' capital can stop them from realising their full potential and attracting more significant investment for scale. PraeSeed fills this gap, preparing founders to work with investors and tap into the deep pool of capital in the North and beyond."
A Diverse and Life Sciences-Heavy Cohort
This year's cohort is notable for its diversity. According to PXN Ventures (搜索), more than 75% of the selected companies are led by founders from diverse backgrounds, and more than half include at least one female founder. The programme organisers highlighted that life sciences and deep tech firms, which make up the majority of the cohort, "are commonly affected by a lack of patient capital, particularly in the North of England."
Sue Barnard, senior investment manager at the British Business Bank (搜索), commented: "PraeSeed continues to play a vital role in strengthening the early-stage investment pipeline across the North of England. This year's cohort reflects the growing diversity and depth of talent in the region, and the importance of ensuring that access to finance is open to founders from all backgrounds."
Life Sciences Companies in Focus
Several life sciences ventures feature prominently in the cohort. York-based Antigonie Biosciences (搜索) is developing new treatments for blood cancers (搜索) designed to reach bone marrow. Lancaster's Chronotaxia (搜索) is creating a wearable device intended to help GPs rule out skin cancer (搜索) before hospital referral.
Newcastle-based Sheba (搜索) is building a metabolic health platform that optimises GLP-1 (搜索) treatments for female hormonal cycles, while Manchester's Lutèo Medical (搜索) is developing gut microbiome-based treatments for skin conditions such as eczema (搜索) and psoriasis (搜索).
Deep Tech and Sustainability Ventures
The cohort also includes a range of deep tech and sustainability-focused companies. Manchester's Ardhann has developed graphene-based sensors for real-time corrosion detection in pipelines and industrial infrastructure. CASA Space Technologies, a University of Manchester spinout, is working on a satellite coating to reduce atmospheric drag.
In the green economy space, Newcastle's RecoVolt is building automated equipment to safely discharge used lithium-ion batteries before recycling. Manchester-based PalmPro Enzymes is engineering enzymes to increase oil extraction from vegetable crops, while TeraSort is deploying AI-powered robotics to sort dry mixed recycling at waste sites. Cheshire's Agreka Build is converting surplus wheat straw into natural insulation boards for the construction industry.
Additional companies include Durham's Convergent Labs, which has developed a manufacturing process for a semiconductor material critical to next-generation medical scanners; Manchester-based sustainable children's toiletries brand Good Bubble; and Bradford's NexCAD, which uses AI to automate compliance checks for engineering drawings.
Programme Structure and Investment Pathway
The PraeSeed programme provides practical workshops, one-to-one mentoring from PXN's investment team, specialist finance sessions led by Sophie Conaghan of Finance for Founders, and pitching support. The curriculum is designed to help founders raise their initial round and prepare for subsequent fundraising.
Dr Young added: "We're proud that PraeSeed has entered its third year and we've backed some brilliant businesses already. None of this would be possible without the support of the British Business Bank (搜索)."
Sue Barnard further noted the alignment with national priorities: "It's great to see so many businesses that align with the UK's Modern Industrial Strategy priorities, and we look forward to see how they unlock future growth and continue to drive regional economic impact."