Mercia Fund Management commits development capital to drug safety spinout InoCardia.

InoCardia, a Coventry University spinout that combines technical excellence and biological understanding to increase the safety of new drugs, has received £300,000 from Mercia Fund Management, a leading technology investor with a focus on the Midlands, North and Scotland.

The funding, which follows on from an SEIS investment made by Mercia in 2013, will be used to build the management and technical team in order to capitalise on interest from pharmaceutical research bodies, as well as to help progress InoCardia’s suite of products into commercialisation.

InoCardia, under the expert supervision of Professor Helen Maddock, Professor of Cardiovascular Physiology and Pharmacology at Coventry University, has developed a model for assessing drug effects on heart muscle tissue.  Known as the “work-loop model”, it uses a contractility assay to measure heart muscle contraction and relaxation in normal, ageing and diseased tissue.  It is currently the only relevant human model of cardio-toxicity available worldwide.

An assessment of heart contraction is a vital part of initial drug testing, as it enables researchers to identify drugs or chemical compounds that could potentially be toxic to an important part of the cardiovascular system.

Adverse drug effects on the cardiovascular system are a major cause of attrition in drug discovery and development, leading to massive drug withdrawals and costing pharmaceutical companies billions in lost revenues and legal fees.

InoCardia’s model is able to determine the likely toxicity of new drugs to the cardiovascular system before clinical testing, thus reducing the likelihood of attrition, saving billions in revenue and improving patient safety, all without the need for prior human and animal trials.

InoCardia has also recently been awarded funding of up to £700,000 by the UK’s innovation agency, Innovate UK, through the Collaborative Research and Development (CR&D) competition: ‘Development of non-animal technologies’.  The competition is part of the Non-Animal Technologies (NATs) programme that has been developed by Innovate UK in collaboration with the National Centre for the Replacement, Refinement & Reduction of Animals in Research (NC3Rs). 

The NATs programme has been established to accelerate the commercial development and application of non-animal technologies for drug and chemical development to improve prediction of efficacy and safety.  The current award was made to support collaborative research and development projects and was co-funded by Innovate UK, NC3Rs, MRC and EPSRC.

Dr Nicola Broughton, Investment Director and Head of Technology Transfer at Mercia Fund Management, said:

“We are delighted to provide further capital to InoCardia, which has demonstrated significant commercial interest in its core technology and service provision.  This sector is ripe for innovation, with the commercial traction and product development to date confirming the capability of InoCardia’s Founder and CSO, Professor Helen Maddock, and her department to innovate and develop products with the potential to reduce the cost of accelerating drugs into clinical development and ultimately saving lives.”

Professor Helen Maddock, Founder and CSO of InoCardia, said:

“It is with great pleasure that we accept further investment from Mercia.  Their support has been invaluable as we seek to commercialise our research and build partnerships with pharmaceutical organisations.

“We also look forward to working with Nicola Broughton, who has extensive experience in working with university spinouts on the commercialisation and development of their research.”

Re-architecting the agency is the new commercial imperative

The Blueprint launches dedicated new team

The Blueprint has today announced the launch of a dedicated service for Advertising, PR and Communications agencies called Business Design.  The new service, which sits alongside the Talent Search service, sets out a clear methodology to enable management teams to re-examine the agency's strategic direction.  A process which involves re-architecting agency structures, teams, processes, cultures and capabilities.  Led by founder Gareth Moss and supported by two new strategic consultants, Clyde McKendrick and Paul Doran, the service aims to prepare and navigate agencies for the current and future landscape.

"The launch of Business Design is a true reflection of the times we live in the creative agency landscape." said, Gareth Moss. Adding: "Whether your measure of agency success is winning awards, sustaining margins, retaining and attracting the best talent, securing the right type of work or simply growth, one thing is clear; the new landscape - post 2008 - is tough, complex and not about to 'return to the good ol’ days’."

The Business Design process helps to address the disruption and flux many agencies are battling.  The change factors are many; from the 'traditional' consulting firms, extending their boardroom influence into creative and digital offerings right through to new agencies with challenging business models gaining momentum. 

Other influences include the ongoing skills drain and up-skilling within brands meaning agency relationship briefs have to change, compounded by the lines between disciplines which were once blurred, are now erasing.  These are the realities of the new agency landscape, these are the challenges faced by CEOs and agency management every day.

Moss concluded: "The impact and signs of these changes run deep; from reduced profit margins, revenue having to be derived from new sources, to a more global and competitive market. How can advertising, marketing, digital and communications agencies remain relevant?  Where will brands place their trust? What is the future for groups versus independents versus networks versus management consultants or even Google? What's the future for creativity, for nurturing talent for remaining relevant for creating a culture relevant for next generations? The challenges may sound great but the opportunities for agencies able to adapt are greater."

Business Design will enable agencies to focus on four key pillars of change:


Proposition - how and where does the agency fit in the context not of just competition but in the eyes of the brand owners
Culture - can the agency embrace more open, collaborative cultures is it set up to meet the needs of a new entrepreneurial generation who demand a blended approach to work and life
Process - if the old service and creative processes are not relevant how can new ones be tested and implemented without too much disruption
Capabilities - underpinning of your offer, how can you deliver the plethora of new creative and digital services. And have you got the right talent to see this through.


The Blueprint, Business Design team


Gareth Moss, managing partner, founded The Blueprint in 2006. He identified a need for agencies to adapt to the digital age and harness the exciting opportunities it creates.  His converged experience in consultancy and headhunting has given him a unique point of view to agencies driven by progress.  He helps several of the world’s leading agencies to both improve their current offering and introduce new, fresh and relevant capabilities.
Clyde McKendrick is a strategic partner for the Business Design team.  He is recognised as one of the world’s leading strategists, having held executive leadership roles with top creative advertising and digital agencies working in both Los Angeles and his native London.  Clyde is an industry thought leader, speaker and writer. He has contributed articles on strategy for titles including: Ad Age, Mashable and Fast Company.
As strategic partner advising communications agencies, Paul Doran, is known as a pioneer of agency change, setting up his first agency network in 2006.  Over 18 years in the industry at a mix of large and small agency environments, he has advised, guided, mentored a number of agencies and tech-start up business, all of which influenced his thinking.  Paul sits on the PRCA Council and is a Google Launchpad mentor.

Vodafone beats market expectations and raises full year guidance as a result

• Vodafone said service revenues rose to 1.2% from 0.8%, helped by improving European markets and continued network investment
• The company has raised its full year guidance from £11.5bn to £11.7bn-£12bn
• The Share Centre currently recommends Vodafone as a ‘buy’

As Vodafone reports its Q2 results Ian Forrest, Investment Research Analyst at The Share Centre, explains what they means for investors.

“This morning, mobile telecommunications company Vodafone reported a surprising set of Q2 results, as service revenues rose 1.2% which was well above the 0.8% expected by analysts. Investors should be aware that this is likely to be due to management reshuffling, improving European markets and investment in its network.

“Despite service revenues rising, earnings slipped 1.7% to £5.79bn on a reported basis although investors should acknowledge that the group still managed to beat analysts forecast of £5.69bn. As a result of the solid figures reported this morning, Vodafone has raised its full year guidance from £11.5bn to between £11.7bn and £12bn.

“We have already seen a fair bit of M&A activity in the sector over the last year as rivals consolidate and offer the “quad-play” of fixed line telephone, TV, broadband and mobile phone services. Interested investors should be aware that we suspect Vodafone could be seeking more deals to help it roll out its vision of supplying high speed broadband in more homes across Europe.

“As a result of today’s results, we continue to recommend Vodafone as a ‘buy’. The good dividend yield makes this an attractive stock for income seekers who prefer a low to medium level of risk.”