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Biotech company wins Bristol’s Tech-Xpo 2021

Jenny Bailey, CEO of Ferryx, with trophy

Gut bacteria

Press release issued: 1 July 2021

Ferryx, a biotech company tackling gastrointestinal inflammation, pitched against ten other startups from Bristol’s world-leading tech scene, to win ‘Best Elevator Pitch’ at SETsquared Bristol’s Tech-Xpo on Wednesday 30 June.

SETsquared Bristol is a University of Bristol-led incubator, supporting the growth of technology-based businesses, helping them move from initial ideas into commercial viability.

Tech-Xpo is SETsquared Bristol’s flagship pitch, demo, connect showcase, providing a platform for startups to showcase their innovative technologies and raise investment.

Founded in 2019 as a spin-out from the University of Bristol, Ferryx are tackling the problem of no effective treatment for gastrointestinal inflammation during active disease which does not present negative side effects.

Their lead product (FX856) is being developed as a prescription therapeutic to target inflammatory bowel disease, which affects 6.8 million people worldwide.

FX856 is a live bacterial product which is able to survive and thrive under high iron conditions. During periods of active inflammation, stress or following surgery there is an increase in levels of iron in the gut. While most constituents of the gastrointestinal microbiome are able to grow under conditions of increased iron availability, lactobacilli and bifidobacteria, frequently employed as probiotics, are rapidly outcompeted and cannot have a beneficial effect.

Ferryx hope to announce their first UK license deal soon and are looking for first investment to accelerate their growth into the pharmaceutical market.

Jenny Bailey, CEO of Ferryx said: “We’re absolutely thrilled to win Tech-Xpo’s Best Elevator Pitch. We pitched to make connections and investments and we are already seeing interest on both accounts.”

The annual showcase was hosted as a hybrid event for the first time in its 17-year history, blending the best of both worlds with live pitches from Bristol enterprise hub, Engine Shed, along with a wider national audience of influential investors and business movers and shakers.

Previous Tech-Xpo pitchers have gone on to achieve notable success. 2020 winners, KETS Quantum Security, have since raised £3.1 million to bring to market hardware to protect data from a new generation of cyberattacks that will use quantum computers.

LettUs Grow, the 2018 winners, raised £2.35 million in 2020 to scale-up delivery of their vertical farming software, as well as partnering with specialist agri-food university, Harper Adams, to trial new technologies. 

Monika Radclyffe, Centre Director at SETsquared Bristol, said: “We were proud to showcase an incredible diversity of tech at this year’s event, featuring startup founders who have the potential to make global impact and deliver innovative new products to market.”

Catherine Fletcher, Associate at Science Creates Ventures said: "SETsquared’s Tech-Xpo delivered some great pitches from early-stage companies. As a new national investor based in the South West, we were excited to experience first-hand some of the talent from the growing Bristol and South West tech ecosystem."

Nathan Guest, Corporate Partner and Head of VWV’s Technology sector, said: “We are delighted to sponsor Tech-Xpo for the 11th consecutive year.  Our role as Lawyer- –in -Residence to SETsquared Bristol remains a foundation of our support to tech and life science start-ups and scale-ups in the city region. Whilst it has been a very difficult year for many, we have been delighted to support several SETsquared companies on significant fundraising deals, and many others on other significant projects."

Tech-Xpo 2021 was sponsored by VWV, Corrigan Accountants and QTEC. VWV and Corrigan Accountants are dedicated supporters of local tech innovation, each offering their pro-bono services to support SETsquared members. QTEC is the University of Bristol’s pre-incubator for innovators of quantum inspired technologies.

 

Further information

Information about SETsquared Bristol 

SETsquared Bristol is a University of Bristol-led tech incubator, supporting founders to grow their businesses and make an impact in the world. It has incubated over 300 companies to date, with over £550 million raised. It supports its members with bespoke business support and expertise. It was named ‘Hottest Accelerator in Europe’ at The Europas Awards 2020, and ‘Global #1 University Business Incubator’ in 2019, 2017 and 2015 as part of the SETsquared Partnership of five centres, as well as the 2020 winner of Tech South West’s Tech Leadership award.

For more info: www.setsquared-bristol.co.uk

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