10 January 2024

Independent UK law firm Burges Salmon has advised cancer therapeutics company Cumulus Oncology Limited on the £9 million funding package it secured from the Scottish National Investment Bank and Eos Advisory.

Founded by Dr Clare Wareing in 2017, Cumulus Oncology is Europe's first oncology biotech creation studio. Focusing on new areas of biology with strong scientific validation, Cumulus Oncology spearheads the development of a new wave of therapeutic options for cancer patients. The investment secured will support Cumulus Oncology as it expands its portfolio of companies to bring new pioneering cancer treatments to market and accelerate the way these treatments are progressed from discovery and clinical trials through to patient application.

An Edinburgh-based team from Burges Salmon’s Corporate and M&A team advised Cumulus Oncology, led by senior associate Katie Carter, partner Danny Lee, associate Victoria MacAulay and solicitor Scott Patterson.

Katie Carter comments: “Cumulus Oncology is a fantastic company that drives scientific innovation and de-risks science. We’ve been working with Cumulus Oncology since 2020 and it has been a pleasure to advise the team on this significant financing which supports the development of cancer research and shines a light on Scotland’s flourishing biotech capabilities.”

Clare Wareing, founder and CEO of Cumulus Oncology, adds: “This funding round marks an important milestone for Cumulus Oncology, as oncology remains a critical area of scienti­fic innovation and unmet medical need. We are grateful for the support from Eos and the Scottish National Investment Bank, enabling us to continue investing in our existing companies and expand our portfolio of new biotechs, advancing our mission to develop the next generation of cancer therapies. We’d also like to extend our thanks to the excellent Burges Salmon team for their continued support and commitment to Cumulus Oncology.”

Burges Salmon celebrates its fifth anniversary in Edinburgh this year where the firm has developed a strong presence and a growing reputation as a market leading corporate practice acting on high value and complex transactions and supporting fast growing companies. The firm has a strong track record working with pharmaceuticals, healthcare, life sciences and biotech companies across the UK.

Key contact

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Katie Carter Senior Associate

  • Mergers and Acquisitions 
  • Private Equity
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