Ferryx, a Bristol-based biotech company tackling gastrointestinal inflammation, has won ‘Best Elevator Pitch’ at Tech-Xpo, the flagship event held by Bristol SETSquared (the University of Bristol’s business incubator).
The company pitched alongside ten other startups from Bristol’s world-leading tech scene.
Tech-Xpo provides 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 is tackling the problem that there is no effective treatment for gastrointestinal inflammation during active disease which does not present negative side effects.
Its lead product (FX856) is being developed as a prescription therapeutic to target inflammatory bowel disease, which affects 6.8 million people worldwide. Ferryx hopes to announce its first UK license deal soon and is looking for first investment to accelerate its 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 live pitches from Bristol enterprise hub, Engine Shed, with a wider national audience of investors and business influencers.
Previous Tech-Xpo pitchers have gone on to achieve notable success. 2020 winners, KETS Quantum Security, has 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 says: “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 startups and scaleups 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”.