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Psioxus Therapeutics Raises a £25M Series C Investment to Progress Onc


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Psioxus Therapeutics Raises a £25M Series C Investment to Progress Oncolytic Virus Plus Checkpoint Inhibitor Combination Study in Metastatic Colorectal Cancer


 

Date: 22/05/2015

PsiOxus Therapeutics Ltd the oncolytic immuno-oncology company, has closed a Series C financing round of £25 million (c$38.5 million) to progress its lead clinical candidate, enadenotucirev, and a pipeline of follow-on oncolytic programmes from the antibody ‘armed’ series of AbEnAd viruses.

Woodford Investment Management joins as a new investor

Founding investor Imperial Innovations led the Series C round alongside other current investors Invesco, SROne (investment arm of GlaxoSmithKline), Lundbeckfond Ventures and Mercia Technologies. In addition, one new investor, Woodford Investment Management, has joined the syndicate via the recently formed Woodford Patient Capital Trust.

PsiOxus’ Chief Financial Officer, Theodora Harold, will formally present on the financing and future plans on Tuesday 19th May at the BioEquity Conference taking place in Vienna, Austria.

Leapfrogging into a large market segment

PsiOxus’ lead product, enadenotucirev, is an oncolytic virus that has been shown in phase I clinical trials to reach and selectively infect cancer cells when administered by intravenous infusion. The ability to deliver enadenotucirev systemically via intravenous infusion represents a significant advantage over the other oncolytic therapies currently in development that require intratumoural delivery. Furthermore, these enadenotucirev phase I clinical trials have shown that the selective infection of tumour cells by enadenotucirev leads to the infiltration of immune cells (T-cells) into colorectal tumours.

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Source: OBN

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