On the 8th June, Calculus Capital EIS Fund 1’s holding in EpiStem was sold in the market at 352.5 pence per share representing a return on investment of 5.2 times. Calculus Capital, via its EIS Fund 1, was the founder investor in EpiStem at 67.4 pence per share. Investors will receive the balance from this profitable exit as a cash distribution.
In addition to being the founder investor in the start-up company, Calculus Capital was the sole participant in a follow on funding and has provided financial support to EpiStem in later funding rounds. Calculus Capital has invested into the Company at prices ranging from 67.4 to 163 pence per share and still retains 13.99% in various EIS funds and its VCT.
Epistem is a UK-based biotechnology company focused on developing therapies for epithelial diseases including cancer, gastrointestinal diseases and skin damage. The Company's expertise is centred on the regulation of adult stem cells located in epithelial tissue. The Company’s recent success is largely down to the signing of a major research deal with the Swiss drugmaker, Novartis, in March. The Company floated on AIM in April 2007.
