Proceeds will advance transformative exosome therapeutics pipeline towards the clinic, continued expansion of world-leading exosome platform for delivery of different drug modalities
Evox Therapeutics Ltd, a leading exosome therapeutics company, today announces that it has raised £35.5 million ($45.4 million) of new capital in a Series B financing round.
Redmile Group led the financing with significant new investments from GV (formerly Google Ventures) and Cowen Healthcare Investments, alongside investments from Panacea Healthcare Venture, Borealis Ventures, and a small number of private investors. Existing investors, Oxford Sciences Innovation (OSI) and Oxford University also participated in this financing round. Evox had previously secured £10 million as part of a Series A seed financing from OSI.
Proceeds from this financing will support the advancement of Evox’s exosome-based therapeutics pipeline, including progression of several proprietary rare disease assets towards the clinic, and continued development of its world-leading exosome drug platform.
Evox is engineering exosomes, the body’s natural vesicular delivery system, to enable a wide variety of drugs to reach previously inaccessible tissues and compartments, such as crossing the blood brain barrier to deliver drugs to the central nervous system, intracellular delivery of biologics, and extra-hepatic delivery of RNA therapeutics. Evox is developing its own proprietary pipeline of exosome-based therapeutics for the treatment of rare, life-threatening diseases with significant unmet need. Evox also continues to form partnerships with major pharmaceutical companies to fully exploit the use of exosome-based therapeutics for the treatment of a wide variety of other diseases.
Dr Antonin de Fougerolles, Chief Executive Officer of Evox, commented: “We are very pleased for the support of both our existing and new investors who participated in this Series B financing. Over the past several years we have continued to expand the reach of our exosome platform, translating that knowledge into impactful therapeutics for our internal pipeline and for partners. We have also vigorously expanded our robust intellectual property portfolio, built our internal R&D teams, and put in place advisory boards who are offering deep insights as we advance key programmes towards clinical development.
“We are excited by the inherent transformational potential of our exosome technology, which significantly improves and enables the delivery of a wide range of therapeutic molecules, including antibodies, proteins, nucleic acids, and small molecules. This additional funding will enable us to advance our pipeline of novel exosome-based therapeutics towards the clinic and allow continued expansion of our world-leading exosome platform.”
Jeremy Green, Founder & Portfolio Manager of Redmile Group, said: “We believe exosomes represent an important emerging therapeutic approach with potentially broad applicability, and we are enthusiastic to partner with the Evox team.”
Source – PR Newswire