Oxford-based PsiOxus closed a Series C financing round, scoring £25 million ($39 million) to advance its lead candidate, enadenotucirev, an oncolytic virus aimed at fighting colorectal tumors. The funding came from GlaxoSmithKline's VC unit and U.K. heavyweight investor Neil Woodford's new $1.2 billion fund.
Neil Woodford's new $1.2 billion fund and GlaxoSmithKline's VC unit have contributed to a $39 million Series C round in PsiOxus Therapeutics. The cash will allow PsiOxus to test its oncolytic virus together with a checkpoint inhibitor, a combination it thinks can make the immuno-oncology treatment effective against otherwise resistant targets.
Oxford-based PsiOxus Therapeutics came through with a slate of mostly upbeat results from its mid-stage study of its lead drug MT-102, an experimental therapy designed to combat potentially lethal weight loss among cancer patients.
PsiOxus Therapeutics nabbed £1.7 million ($2.7 million) from the U.K. government-backed Biomedical Catalyst to start a Phase I/II clinical trial of its cancer vaccine.
PsiOxus Therapeutics began human clinical trials of its cancer vaccine ColoAd1--a highly potent anti-cancer therapeutic that destroys tumor cells at minute concentrations.
PsiOxus Therapeutics amassed $34 million for its Series B. The round will allow the London-based company to move forward with clinical development of a systemically available oncolytic vaccine for the treatment of colorectal and other forms of cancer, ColoAd1, through a series of Phase I and Phase II clinical trials, according to a release.