A major biotech company has raised £7,600m from investors and was named as the latest tech company to be named as a winner of the Google prize.
Bambi Technologies, which is developing gene therapy to treat human cancer, announced the investment at its annual general meeting.
Bilateral funding and support from Google and the European Union helped the firm secure the award.
Google has previously awarded a prize to companies based in Asia for their inventions in search, search engine optimization, social network marketing, mobile communications and artificial intelligence.
Google announced its Google Innovation Award in 2015 and a similar prize to the Gilead and Pfizer prizes in 2015.
The latest Google prize for innovation was named the Biostock award.
It is named after the biotech company’s Bioinformatics Centre.
Baba stock rose 7.6 per cent to £6,842.96, while Gileade rose 6.4 per cent at $10.17, to $18.08.
Pfizer shares fell 1.2 per cent, while Genzyme rose 1 per cent.