FUNDS UNDER MANAGEMENT

CRT Pioneer Fund

The CRT Pioneer Fund has been established with Cancer Research Technology (CRT) and the European Investment Fund (EIF) to create a £50M investment fund to bridge the investment gap between cancer drug discovery and early development. It will take potential cancer drugs, primarily discovered by Cancer Research UK, from discovery through to entry to Phase II clinical trials before partnering with pharmaceutical and biotechnology companies.

Cancer Research Technology (CRT) is a specialist commercialisation and development company, which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT is a wholly owned subsidiary of Cancer Research UK, the largest independent funder of cancer research in the world. Further information about CRT can be found at www.cancertechnology.com

EIF's central mission is to support Europe's micro, small and medium sized enterprises by helping them to access finance. EIF designs and develops venture and growth capital, and guarantees instruments which specifically target this market segment. The investment in the CRT Pioneer Fund is their biggest investment to date in a single technology transfer activity. Further information can be found at www.eif.org