Coventry biotech firm closes £10m funding round
NanoSyrinx, a synthetic biology company developing nanosyringes as a platform for targeted intracellular delivery of biologic therapeutics, has closed a £10m funding round.
The funding aims at supporting further advancements on the Coventry-based firms technology platform to accelerate the development of biologic therapeutics.
Funding was co-led by BGF, Octopus Ventures and M Ventures, with support from existing investors IQ Capital and Meltwind.
Global medicines company Eli Lilly also participated.
The firm’s platform is based around naturally occurring ‘nanostringes’ which are engineered to deliver peptide and protein payloads – including functional gene editors and a range of other ensymes – directly to the cytosol of targeted cells.
Dr. Joe Healey, chief executive officer, NanoSyrinx said: “Edwin has significant experience as a successful CEO and Chairman, with extensive involvement in biotech fundraising, strategic commercial partnerships and successful exits. We are thrilled to have him joining as Chair of our Board as we drive forward with our ambitious plans.
“He joins us at a pivotal stage alongside this financing, which places us in a well-capitalised position to further develop our intracellular drug delivery technology to realise its full potential in developing medicines. We would like to thank Steve for all his help over the years, and recognise the instrumental part he has played in getting the company to where it is today.”
Alongside the financing, Edwin Moses has joined NanoSyrinx chairman taking over from Stephen Taylor who has led the board since the company’s inception.
He said: “NanoSyrinx’s technology promises to make a tremendous positive difference to the very challenging problem of intracellular delivery of therapeutics. I am delighted to join the Board and help build on the momentum of this latest fundraise, to support the Company and its leadership team in the further development of this unique platform which has the potential to create enormous value and make a real difference to patients’
lives.”
