Evox Therapeutics Ltd, a leading exosome therapeutics company based in Oxford, has raised £69.2 million in a Series C financing round.
The financing was significantly oversubscribed with high demand from both existing and new investors. The latest round was led by San Francisco based Redmile Group who were joined by new investors New York-based OrbiMed and Invus. In addition to Redmile, all existing Series B investors reinvested, including major investors Oxford Sciences Innovation (OSI), GV (formerly Google Ventures) and Cowen Healthcare Investments. Eli Lilly, also converted a $10 million convertible note, that formed part of our 2020 collaboration agreement with them, into equity as part of this round.
Proceeds from this financing will support the advancement of Evox’s exosome-based therapeutics pipeline, including progression of several rare disease assets into the clinic, and continued development of its world-leading DeliverEXTM exosome drug platform. In connection with the financing, Evox will appoint Chau Khuong, partner at OrbiMed, to its Board of Directors.
Dr Antonin de Fougerolles, Chief Executive Officer of Evox, said: “We are delighted with the support received in this Series C financing from both our existing investors and our new investors. The level of interest in this financing round is testament to the progress we have made over the last few years. Since our Series B round in 2018, we have continued to develop our DeliverEXTM platform, advance our pipeline of exosome therapeutics, expand our intellectual property portfolio, build our R&D capabilities and bolster our management team. We have also signed significant partnership deals with Eli Lilly and Takeda, two of the world’s leading pharma companies. We welcome Chau Khuong to our Board and look forward to his contributions as Evox enters its next phase of growth.”
Exosome-based drugs have the potential to address some of the limitations of protein, antibody and nucleic acid-based therapies by enabling delivery to cells and tissues that are currently out of reach using other drug delivery technologies, and Evox is leading the development within this emerging therapeutic space.