OXFORD, England, Feb. 18, 2021 /PRNewswire/ — Evox Therapeutics Ltd (‘Evox’ or the ‘Firm’), a number one exosome therapeutics firm, as we speak pronounces that it has raised £69.2 million ($95.4 million) in a Collection C financing spherical.
The financing was considerably oversubscribed with excessive demand from each present and new traders. The Collection C financing was led by Redmile Group who have been joined by new traders OrbiMed and Invus. Along with Redmile, all present Collection B traders reinvested, together with main traders Oxford Sciences Innovation (OSI), GV (previously Google Ventures) and Cowen Healthcare Investments. Eli Lilly, additionally transformed a $10 million convertible observe, that shaped a part of our 2020 collaboration settlement with them, into fairness as a part of this spherical.
Proceeds from this financing will assist the development of Evox’s exosome-based therapeutics pipeline, together with development of a number of uncommon illness belongings into the clinic, and continued growth of its world-leading DeliverEXTM exosome drug platform. In reference to the financing, Evox will appoint Chau Khuong, companion at OrbiMed, to its Board of Administrators.
Dr Antonin de Fougerolles, Chief Govt Officer of Evox, commented:
“We’re delighted with the assist acquired on this Collection C financing from each our present traders and our new traders. The extent of curiosity on this financing spherical is testomony to the progress we’ve revamped the previous couple of years. Since our Collection B spherical in 2018, we’ve continued to develop our DeliverEXTM platform, advance our pipeline of exosome therapeutics, develop our mental property portfolio, construct our R&D capabilities and bolster our administration crew. We’ve additionally signed important partnership offers with Eli Lilly and Takeda, two of the world’s main pharma corporations. We welcome Chau Khuong to our Board and look ahead to his contributions as Evox enters its subsequent part of progress.”
About Evox Therapeutics
Evox Therapeutics is a privately held, Oxford-based biotechnology firm centered on harnessing and engineering the pure supply capabilities of extracellular vesicles, often known as exosomes, to develop a wholly new class of therapeutics. Backed by main life sciences enterprise capital teams and supported by a complete mental property portfolio, Evox’s mission is to positively influence human well being by creating novel exosome-based therapeutics for the remedy of varied extreme illnesses with restricted choices for sufferers and their households. Evox makes use of its proprietary DeliverEXTM know-how to switch exosomes utilizing numerous molecular engineering, drug loading, and concentrating on methods to facilitate focused drug supply to organs of curiosity, together with the mind and the central nervous system. Exosome-based medicine have the potential to deal with a few of the limitations of protein, antibody and nucleic acid-based therapies by enabling supply to cells and tissues which might be presently out of attain utilizing different drug supply applied sciences, and Evox is main the event inside this rising therapeutic house.
For additional info go to: www.evoxtherapeutics.com
SOURCE Evox Therapeutics