CPI Enterprises has announced it has invested £500,000 in Cambridge-based life sciences company Verinnogen to support the development of a novel technology designed to improve the accuracy and reliability of cancer drug development.
The investment is part of the Innovate UK Catapult Investment Pilot programme, which supports high-growth, innovation-driven companies across the UK.
Verinnogen is developing a novel method for measuring tumour size and volume in pre-clinical cancer research, aiming to address a longstanding challenge in drug development: achieving precision and consistency in these measurements.
Currently, widely used techniques can introduce variability and inconsistency, leading to unreliable data and even the need to repeat studies, slowing progress and increasing costs.
By improving accuracy, Verinnogen hopes to enable a more reliable evaluation of new therapies.
Its technology is designed to deliver more precise, rapid and reproducible measurements, potentially improving the quality of pre-clinical data, accelerating decision-making in drug development and supporting better outcomes across the research pipeline.
The £500,000 investment will aid in developing the technology and collaborating with CPI’s HealthTech team to enhance the next generation of the handheld device.
This includes improving measurement accuracy and spatial resolution while ensuring speed and usability to promote early adoption and commercial growth.
Frank Millar, CEO of CPI, said: "We're delighted to welcome Verinnogen to CPI Enterprises' portfolio. This is exactly the kind of high-potential, mission-driven innovation we exist to support."
Verinnogen’s technology has the potential to significantly improve the quality and reliability of pre-clinical oncology research, ultimately supporting faster development of new treatments for patients.
"Through our combined investment and technical collaboration, we look forward to helping the team scale their technology, unlock early commercial opportunities and contribute to a stronger, more innovative UK life sciences sector."
Dr Isaac Johnson, CEO, Director and co-founder of Verinnogen, added: "Improving the accuracy and consistency of tumour measurement is critical not only for data quality but also for reducing inefficiencies and unnecessary repeat studies in preclinical research."
"CPI’s support brings both funding, delivered through a government-backed innovation initiative and deep technical expertise at an important stage in our development."
By working together, we’re accelerating progress towards establishing a reliable and reproducible standard for tumour measurement, benefiting both research outcomes and resource use across the sector.
Dave Wilkes, Director — Innovation Ecosystem at Innovate UK, concluded: "This investment forms part of a broader initiative led by Innovate UK and the Catapult Network."
"This approach to capital deployment strengthens the Catapults' ability to back early-stage companies developing disruptive technologies."
By supporting high-potential businesses and connecting them with the right expertise, partners and infrastructure, we're helping to maximise their chances of scaling successfully, translating innovation into commercial growth that contributes to a stronger UK economy.