Business & Technology
Helical raises USD $10 million to expand virtual AI lab
Helical has raised USD $10 million in seed funding in a round led by Redalpine.
The London biotech startup will use the money to expand its virtual AI lab across more pharmaceutical programmes and grow its science and engineering team.
Gradient, BoxGroup and Frst also participated, alongside individual investors including Cohere Chief Executive Officer Aidan Gomez, Hugging Face Chief Executive Officer Clement Delangue and footballer Mario Goetze.
Helical pitches its software as an application layer that helps drug researchers use biological foundation models in day-to-day research workflows. The system is designed to let biologists, translational scientists, machine learning engineers and data scientists work from the same data, models and results.
The company was founded in early 2024 by Rick Schneider, Maxime Allard and Mathieu Klop. Schneider previously worked at Amazon and later at Celonis. Allard led data science teams at IBM before starting a PhD in reinforcement learning and robotics. Klop trained as a cardiologist and genomics researcher.
Pharma focus
Helical is already being used by several top-20 global drugmakers, including through a public collaboration with Pfizer on predictive blood-based safety biomarkers.
Its deployments span target identification, biomarker discovery and therapeutic design. Across those projects, teams have shortened discovery timelines from years to weeks and expanded work from single indications into nearby therapeutic areas.
The pitch comes as drugmakers look for ways to improve the productivity of research spending. Industry figures cited by Helical put annual R&D expenditure at more than USD $300 billion, while the average cost of bringing a drug to market exceeds USD $2 billion and more than 90 per cent of candidates entering clinical trials fail.
Interest in AI tools for drug discovery has grown rapidly, but many projects have remained at the pilot stage. One challenge for pharmaceutical companies has been connecting model outputs to scientific decisions that can be repeated, checked and applied across programmes, rather than confined to isolated experiments or notebooks.
Helical argues that this gap between model development and practical use inside research teams has held back broader adoption. Scientists and machine learning teams often work separately, making analyses harder to reproduce and transfer between projects.
“The models alone don’t discover drugs. The system does,” said Rick Schneider, Co-Founder, Helical. “Pharma teams need a system that turns foundation models into workflows scientists can run, validate, and defend. We built Helical to make in-silico science reproducible at pharma scale, so teams can go from hypothesis to decision in days instead of months.”
Investor view
Redalpine said the investment reflects a wider shift in how AI is being used in life sciences, as advances in biological foundation models begin to converge with broader reasoning systems.
“We are at a unique point in time where biological foundation models and general language reasoning models are converging,” said Daniel Graf, General Partner, redalpine. “We backed Helical because we strongly believe they have what it takes to build the pharma AI orchestration platform that will drive this transition from siloed AI models to integrated virtual AI labs.”
Helical’s central claim is that drug discovery teams need more than model predictions. They need a system that records how those predictions were produced, links them to biological evidence and presents them in a form researchers can use to decide what to test next in the lab.
That argument points to a broader challenge in computational biology. Many AI-led discovery efforts have promised faster, cheaper research, but pharmaceutical companies still have to judge which findings are robust enough to support expensive laboratory and clinical work.
The technology is intended to reduce the time needed to move from an initial hypothesis to a decision on whether a programme should proceed. Helical says that process can be cut from months to days when in-silico workflows are set up in a repeatable way.
Like many AI startups in biotech, the company now faces the challenge of turning early deployments into long-term use across large research organisations. Its backers are betting that demand from major drugmakers for more consistent, auditable AI workflows will support that expansion.
Business & Technology
Ecommpay shortlisted in seven Payments Awards categories
SOFIAH NICHOLE SALIVIO
News Editor
Ecommpay has been shortlisted in seven categories at the Payments Awards, including two individual Women in PayTech honours.
Its Head of Regulatory Compliance, Alpa Jotangia, and Chief Marketing Officer, Miranda McLean, are finalists for the Women in PayTech award. Ecommpay is also in contention for Best Online Payments Solution, Best Merchant Acquirer or Processor, Cross-Border Payments Solution of the Year, AI-Driven Fraud Prevention Platform of the Year, and Best Use of AI and Data in Payments.
The shortlist spans both corporate and individual categories in an awards programme that recognises businesses and executives across the payments sector.
Ecommpay operates a full-stack payments platform for merchants, with cross-border commerce at the centre of its offer. Merchants can access global and local acquiring, payment processing, and orchestration through a single API, alongside more than 100 payment methods.
Fraud prevention was one of the areas highlighted by the shortlist. Ecommpay cited its in-house Graph Analysis system as part of its response to payment fraud, a growing issue in digital commerce.
The individual nominations reflect different parts of the business. Jotangia was recognised for her work in regulatory compliance and for building a compliance culture within organisations.
McLean’s nomination centres on her marketing career and her work on inclusion, accessibility, and diversity in financial technology. Financial inclusivity sits at the heart of Ecommpay’s wider mission and shapes how it supports merchants seeking to improve accessibility for end customers.
AI focus
Artificial intelligence features prominently in the company’s awards showing. Alongside the AI-Driven Fraud Prevention Platform of the Year category, Ecommpay was shortlisted for Best Use of AI and Data in Payments, reflecting its use of machine learning and data analysis in payment processing.
Ecommpay has invested in artificial intelligence to analyse payment declines and fraud patterns. That work forms part of a broader push to improve checkout performance and payment acceptance rates for merchants.
McLean commented on the recognition in a statement.
“At Ecommpay, we are on a mission to push checkout performance to its absolute limit. As well as committing to increasing accessibility and inclusivity across our platform, adding to our suite of available payment methods and using the latest tech to fight fraud, we have invested in artificial intelligence to analyse payment declines and transform FinTech performance. To have our people, our innovations and our successes recognised with no less than seven Payments Awards shortlistings is incredible,” said Miranda McLean, Chief Marketing Officer, Ecommpay.
Company profile
Founded in 2012 and based in London, Ecommpay serves merchants looking to manage domestic and international payments through a single provider. Its platform includes open banking, recurring billing, and direct debits, which it builds directly into its system rather than relying on third-party products.
The business is authorised by the Financial Conduct Authority under the Payment Services Regulations to provide payment services. It is also a principal member of Mastercard and Visa, according to the company.
The seven shortlistings give Ecommpay visibility across some of the most competitive parts of the payments market, including online payments, merchant acquiring, cross-border transactions, fraud prevention, and the use of artificial intelligence in payment operations.
These categories highlight where payments groups are under pressure to differentiate, particularly as merchants seek fewer providers, broader geographic reach, and stronger fraud controls.
Ecommpay said ultimate financial inclusivity is its company mission, with a focus on helping merchants improve accessibility for customers.
Business & Technology
Thames Water’s £7.5bn reservoir near Abingdon ‘critical’
Leonie Dubois, Head of Engagement, Land and Consents at Thames Water, said: “The South East is designated as seriously water stressed and as we enter the fourth heatwave of the summer it’s clear climate change is already having an impact.
“It’s therefore critical that we continue to progress our plans for White Horse Reservoir.
“It would act as drought insurance policy for the region, securing water supplies for 15 million people, including Thames Water, Affinity Water and Southern Water customers.”
The White Horse Reservoir, near Abingdon, will provide water for 15 million people across the south east.
The project has been labelled a “vital piece of national water infrastructure” by Thames Water.
But, in a statement action group ‘Group Against Reservoir Development’ called the reservoir the wrong solution in the wrong place.
The massive reservoir, which will cover an area the size of Gatwick Airport, has always been a topic of debate.
Only Kielder Water in Northumberland, at 200 billion litres, is bigger.
READ MORE: Rain to reverse Oxfordshire drought won’t arrive till October
Map of Abingdon reservoir location. (Image: Google Maps)
Two groups, Countryside charity CPRE Oxfordshire and Safer Waters, even sought a judicial review at the High Court.
However, their judicial review was dismissed.
Thames Water revealed that costs for the controversial proposed Abingdon Reservoir soared from £2.2 billion to between £5.5 billion and £7.5 billion, a tripling of the original figure
This will be borne by customers of Thames Water, Affinity Water, and Southern Water.
The plan is to tackle an anticipated shortfall of more than a billion litres of water per day in the next 50 years, according to Thames Water.
This projection considers the effects of population growth and climate change.
Thames Water predicts that a severe drought could cost London’s economy alone as much as £500m a day.
Currently, hosepipe bans are already a common occurrence.
The Abingdon Reservoir, also known as the South East Strategic Reservoir Option (SESRO), is expected to be the second largest reservoir in the UK, with a capacity of 150 billion litres.
Only Kielder Water in Northumberland, at 200 billion litres, is bigger.
The site is located three miles southwest of Abingdon.
It is close to the River Thames and features the right geology and ground conditions for a reservoir.
Thames Water has had to plan for more than just the reservoir itself.
The project will include a pumping station, a conveyance tunnel to transfer flows to and from the River Thames near Culham, and infrastructure to link the reservoir to the River Thames for emergency drawdown.
An access road into the site, a temporary rail siding for freight train deliveries, and a compensatory floodplain are also part of the plan.
Local streams will be diverted, and the Steventon–Hanney road will be shifted to the south.
Business & Technology
Cambridge Tech Week names five startup pitching finalists
Cambridge Tech Week has named five startups as finalists in its 2026 pitching competition after judges selected them from a shortlist of 20 companies.
The finalists are HotHouse Therapeutics, HutanBio, Lambda Energy, Myonerv and Xplore Intelligence. They span biotechnology, sustainable energy, agritech, medtech and artificial intelligence, reflecting the breadth of the wider shortlist.
HotHouse Therapeutics emerged from Professor Anne Osbourn’s laboratory at the John Innes Centre. The company is developing a drug discovery approach based on transient plant expression, using living plants to produce new medicines through an artificial intelligence-led platform.
HutanBio is focused on algae-based fuel production. It has identified a new class of algae, called Sphaerica, that produces oil at much higher rates than existing leading strains and can be cultivated in seawater on non-agricultural coastal land using sunlight and CO2.
Lambda Energy operates in agritech with a greenhouse additive called GloGro. The product is designed to increase crop yields by about 20%, and the company has secured pilot manufacturing and grower trials for high-value crops in the UK.
Myonerv has developed a wearable neurostimulator designed to monitor and treat stroke-induced paralysis remotely. Its system uses reusable electrode arrays and has already demonstrated remote control of hand movement between Cambridge and Greece.
Edinburgh-based Xplore Intelligence is building software to train and evaluate AI agents. Its Forge platform is designed to simulate operational environments so businesses can test full AI agent systems before deployment. The company has also won its first contract, worth more than GBP £1 million.
Judging panels
An independent panel drawn from finance, venture capital and industry reviewed the initial shortlist. It included Paul Hughes, Managing Director – Life Sciences & Technology, BDO; Jamie Bignal, Director, HSBC Innovation Banking; Mayank Shah, Co-founder and Chief Executive Officer, Grow Beyond Borders; Anne Dobree, Investment Director, Parkwalk Advisors; Isabelle O’Keeffe, Venture Partner, Twin Path Ventures; and the Chief Technology Officer for His Majesty’s Government Communications Centre, whose identity was withheld for security reasons.
A separate panel will choose the overall winner in the live final. It includes Zickie Lim, Partner and Head of VC & Investments, Mills & Reeve; Marilena Ioannidou, Director, Metaxi Catalyst Ventures; Richard Lewis, Managing Director, Foresight Group; and Emmi Nicholl, Chief Executive Officer, Cambridge Angels.
The competition forms part of Startup to Scaleup Day, one of the business-focused strands of Cambridge Tech Week. Organisers have positioned it as a showcase for younger technology businesses seeking investor, customer and market attention as they move beyond the early stage.
The finalists also highlight where UK startup activity remains concentrated. Drug development, climate and energy technologies, digital health, food production and AI infrastructure continue to attract commercial and investor interest, particularly when linked to research institutions or clear industrial use cases.
Cambridge has long been one of the UK’s leading centres for venture-backed science and technology businesses, with strong links between academia, investors and corporate partners. The inclusion of companies from outside the city, including Xplore Intelligence, suggests the competition is intended to reflect a broader national technology base rather than the local cluster alone.
The pitching competition is sponsored by Mills & Reeve, PwC and Julius & Clark. Professional services and law firms have become regular backers of startup competitions as they seek closer ties with high-growth businesses and their investors.
Lead judge Zickie Lim commented on the selection process.
“The standard of this year’s competition has been exceptionally high from the start, which will make the final selection process incredibly challenging. As sponsors of the Pitching Competition, Mills & Reeve is delighted to support a platform that shines a spotlight on the next generation of innovative businesses, and we are looking forward very much to seeing the finalists pitch live at Cambridge Tech Week,” Lim said.
PwC also highlighted the strength of the field.
“This year’s finalists demonstrate the extraordinary depth of innovation emerging from the UK’s technology ecosystem, and are among the strongest we’ve seen. They all represent the kind of ambitious, globally relevant businesses that have the potential to create real impact. PwC is proud to support entrepreneurs at this critical stage of their growth journey,” de Young said.
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