Awen Oncology, a therapeutics venture focused on next-generation cancer treatments, has accelerated its research and growth plans after securing a seven-figure investment round. The funding, led by biotech investor Dr Urs Spitz alongside additional mechanisms, will create high-value jobs and enable the company to progress key scientific milestones toward advancing a primary therapeutic programme closer to the clinic.
The company is a spinout based on collaborative research from Bangor University and Cardiff University, founded by Dr Ramsay McFarlane, Dr Jane Wakeman, and Professor Andrea Brancale, a globally recognised leader in computational medicinal chemistry. Awen Oncology is developing innovative therapeutics with the potential to transform cancer treatment.
As part of the investment, Dr Spitz joins the company board, bringing extensive international experience in building and scaling biotechnology businesses. His involvement will guide the company through its next growth phase and position it for future investment and clinical entry.
The funding will support the creation of PhD-level scientific positions, strengthening Wales’ life sciences sector and developing high-value local jobs. The scientific discoveries underpinning the company are rooted in academic research supported by Cancer Research Wales, a leading supporter of fundamental research in Wales.
Dr Ramsay McFarlane, CEO and co-founder of Awen Oncology, based at M-Sparc innovation park in Gaerwen, said: “Securing this new investment marks a very important step forward for Awen Oncology as we continue to develop our therapeutic pipelines. The funding allows us to achieve critical scientific milestones while strengthening our team with highly skilled talent here in Wales. Importantly, this is about more than just scientific progress. The therapies we are developing have the potential to make a real difference to patients. Our lead programme is targeting a rare form of bone cancer with significant unmet clinical need, with potential applications across more common cancers. Ultimately, our goal is to bring forward treatments that can improve and potentially save lives.”
Dr Urs Spitz, biotech investor and new board member, added: “Awen Oncology represents a compelling opportunity at the intersection of cutting-edge science and meaningful patient impact. The team has built a strong scientific foundation, and I look forward to supporting the team as it advances towards its next stage of development. This investment reflects both the quality of the innovation emerging from Wales and the global potential of the company’s therapeutic approach.”
Dr Lee Campbell, head of research at Cancer Research Wales, said: “As the Welsh cancer research charity and a leading funder of cancer research here in Wales, we are proud to have been the catalyst for this important research in North Wales - a journey that began over 15 years ago. It is pleasing to see Welsh cancer research make its mark with the potential to offer real-world solutions for cancer patients everywhere.”
