Multi-million equity fund boost for Welsh life sciences venture Antiverse

Image caption: Antiverse investment deal: L-R Mike Brough, Strategic Growth Director, CCR, Ben Holland, Chief Technology Officer of Antverse and the firm’s Chief Executive, Murat Tunaboylu.

Cardiff University’s tenant, Antiverse, has received backing from the Development Bank of Wales and the Cardiff Capital Region, who together supported a £7 million equity investment into the AI life sciences venture. The Series A funding round for the Cardiff-based business was also supported by international investors, led by the Prague-based venture capital firm Soulmates Ventures.

Antiverse applies advanced generative AI and machine learning to predict, design and optimise antibody-based drugs. By dramatically reducing the time and cost of traditional discovery methods, it enables pharmaceutical and biotechnology partners to bring life-changing treatments to patients faster and more efficiently. Antiverse’s platform already supports programmes across oncology, immunology and infectious diseases, positioning the company at the forefront of next-generation therapeutics.

This is the third investment in Antiverse by the development bank since it first provided early-stage seed capital in 2020. The funding will accelerate new intellectual property and expand its local team, with five new jobs created and 19 high-skilled jobs safeguarded.

The deal is the sixth by the Cardiff Capital Region, through its £50m Innovation Investment Capital (IIC) fund, which is managed by Capricorn Fund Managers. The value of the investments by the development bank and the IIC fund has not been disclosed. It is the first time they have both invested in the same investment round.

Murat Tunaboylu, Antiverse’s co-founder and chief executive said of the investment round: “This is a powerful endorsement of both our technology and our roots in Cardiff. This investment not only enables us to scale our platform, grow our team and deepen partnerships with pharma and biotech leaders worldwide, but also positions Antiverse strongly for our next phase of growth. By strengthening our foundations at Series A, we are laying the groundwork for a successful Series B and the opportunity to bring our technology to an even broader global market.

Kellie Beirne, chief executive of the Cardiff Capital Region, a statutory body covering the ten local authorities of south east Wales: “Antiverse is a great example of the kind of cutting-edge innovation we want to see growing in our region. By combining AI with life sciences, the team is tackling some of the most important challenges in healthcare today. CCR is committed to investing in medical tech innovators and we are proud to support a business like Antiverse that is creating global impact from Cardiff.”

Rhian Elston, Wales investment director for the Development Bank of Wales, said: “Antiverse represents a compelling life sciences opportunity with the potential to build a business of genuine global scale. By combining deep biological expertise with advanced AI‑led design in a proprietary platform, the company is redefining how antibody therapeutics are developed. We’re pleased to be working alongside Innovation Investment Capital to continue our support for this Welsh‑based tech business as it continues to scale and strengthen its foundations for long‑term growth.”

Antiverse also benefits from a close, long-standing relationship with Cardiff University, which, as part of the SETsquared Partnership, provides access to its innovation facilities and support to advance the company’s research, development, and commercial expansion.