Biotech company wins SETsquared Bristol’s Tech-Xpo 2021

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Ferryx, a biotech company tackling gastrointestinal inflammation, pitched alongside ten other startups from Bristol’s world-leading tech scene to win ‘Best Elevator Pitch’ at SETsquared Bristol’s Tech-Xpo on Wednesday 30 June.

SETsquared Bristol is a University of Bristol-led incubator, supporting the growth of technology-based businesses, helping them move from initial ideas into commercial viability.

Tech-Xpo is SETsquared Bristol’s flagship pitch, demo, connect showcase, providing 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 are tackling the problem that there is no effective treatment for gastrointestinal inflammation during active disease which does not present negative side effects.

Their lead product (FX856) is being developed as a prescription therapeutic to target inflammatory bowel disease, which affects 6.8 million people worldwide. Ferryx hope to announce their first UK license deal soon and are looking for first investment to accelerate their growth into the pharmaceutical market.

Jenny Bailey, CEO of Ferryx says: “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 the best of both worlds with live pitches from Bristol enterprise hub, Engine Shed, along with a wider national audience of over 100 influential investors and business movers and shakers.

Previous Tech-Xpo pitchers have gone on to achieve notable success. 2020 winners, KETS Quantum Security, have 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.”

Tech-Xpo 2021 was kindly sponsored by VWV, Corrigan Accountants and QTEC. VWV and Corrigan Accountants are dedicated supporters of local tech innovation, each offering their pro-bono services to support SETsquared members. QTEC is the University of Bristol’s pre-incubator for innovators of quantum inspired technologies.

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”.

If you’re an investor that would like more information on SETsquared Bristol members or have ideas for how we can accelerate the growth of our companies, please get in touch.