Home Therapy fund Biotech firm secures additional £ 6.2million in funding

Biotech firm secures additional £ 6.2million in funding

19
0



A Coventry-based biotech company developing a new cell engineering tool for new targeted therapy modalities has raised an additional £ 6.2million in seed funding.

The NanoSyrinx funding round was co-led by incoming Octopus Ventures and existing investor M Ventures, the corporate venture capital arm of Merck.

Previous investors BioCity, now We are Pioneer Group, and the UK Innovation & Science Seed Fund (UKI2S) have joined the round with IQ Capital and Jonathan Milner.

NanoSyrinx Ltd was founded in 2020 to develop a fully customizable genetic platform that selectively delivers peptide and protein payloads directly into the cytosol of targeted cells. It was first identified by the Waterfield Lab based at Warwick Medical School at the University of Warwick.

The company will use this investment to study the applications of its technology in a range of therapeutic indications and new modalities. Proof of concept studies for both in vivo active pharmaceutical delivery and ex vivo cellular engineering will be undertaken

Managing Director Dr Joe Healey said: “We are delighted that all of our current investors have recognized the tremendous progress the company is making in 2020 and have chosen to continue to support us.

“It is also a pleasure to welcome Octopus, IQ Capital and Jonathan Milner to the union and we are delighted to be working together. This investment will help us develop our approach to better target the therapeutic areas where we can have the most impact. “

Dr Uzma Choudry, early stage investor at Octopus Ventures, added: “Targeting diseased cells without affecting healthy cells is the holy grail of medicine. This is why we are delighted to support the brilliant NanoSyrinx team in the development of their platform delivery products to treat the disease.

“The first applications of this technology will be in the cell and gene therapy space, where we may see it being used to create highly effective cancer treatments with dramatically reduced side effects.

“The opportunity is huge and we look forward to working with Joe and the team to help make NanoSyrinx’s vision a reality.”