Flexible funding for CRT

CRT Pioneer Fund's latest close triples the number of cancer programs the fund can move through development compared with its expectations when it launched two years ago.

Last week's £20 million ($31.4 million) investment by BACIT Ltd. (LSE:BACT) brings the fund to £70 million ($110 million) and came in conjunction with the fund's fifth investment, a deal with cancer immunotherapy play Chroma Therapeutics Ltd. Unlike traditional funds that take equity stakes, the Pioneer Fund in-licenses programs and finances development through Phase I testing, primarily for molecules coming out of Cancer Research Technology Ltd.'s discovery labs and academic network...