Prelude, Avlar and Novartis venture funds for Iceni Bio

16 July 2001

Prelude Trust, Avlar BioVentures and the Novartis Venture fund havetogether invested L3 million ($4.2 million) in Iceni BioDiscovery, a Cambridge, UK-based firm which is developing a new way to treat insulin-dependent diabetes by producing human cells in the laboratory for transplantation.

Iceni says it has other products in the pipeline for the treatment of chronic diseases. The company was founded in April this year by three ex-Novartis employees: Tony Talbot, Simon Thompson and Barbara Pagg.

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