Macmillan Cancer Support, one of the UK’s largest charities supporting medical research and victims of cancer, has announced the launch of a venture capital firm to fund organisations developing medical innovations.
Macmillan Ventures, backed by donations from various philanthropists and organisations, will target funding for innovators in cancer treatment.
The parent group has already started investing in health tech startups, so far it has invested more than £3.5m since 2023 including recent participation in the £8.7m funding round for Cambridge startup Lucida Medical.
With its new fund, it aims to continue its investment regime and act as a trusted partner for medical innovators and the NHS.
Former chancellor Lord Philip Hammond, who serves as an ambassador for Macmillan Ventures said: “During my time as both Chancellor of the Exchequer and as a government minister, I saw just how much good can be achieved when the public, private and voluntary sectors come together around a shared goal.
“That is what Macmillan Ventures is doing right now – bringing together the right coalition of philanthropists, corporate partners, people living with cancer and healthcare innovators together to build a better future. A future where everyone living with cancer gets the world-leading treatment and care they need.”
Macmillan Ventures was launched at the Revolutionising Cancer Care event in London this week.
