Coventry-based biotech company NanoSyrinx has raised an additional £ 6.2 million in seed funding from the new Octopus Ventures and existing investor M Ventures (Amsterdam, The Netherlands), Merck’s corporate venture capital arm KGaA, are managed jointly.
Former investors BioCity and the UK Innovation & Science Seed Fund (UKI2S) participated in the financing round together with experienced deeptech investor IQ Capital and Jonathan Milner. With high demand from both existing and new investors, the round was significantly oversubscribed.
NanoSyrinx is the first to develop protein nano-syringes, a cell-selective, non-viral peptide and protein delivery system. Targeted delivery of therapeutics is an important solution to improve efficacy and minimize potential side effects of existing and new treatments. NanoSyrinx technology has the potential to transform the way we treat a wide variety of diseases. The system overcomes a number of challenges encountered with intracellular administration such as: B. Cell specificity, payload constraints, and manufacturing complexity.
The company will use this investment to fully evaluate the applications of its technology in a range of therapeutic indications and novel modalities. Proof-of-concept studies for both active pharmaceutical in vivo delivery and ex vivo cell engineering are being conducted to better understand optimal clinical goals and to build a pipeline of programs that will advance into the next phase of growth should be.
Dr. Joe Healey, CEO of NanoSyrinx, commented, “We are very pleased that all of our current investors have recognized the tremendous progress the company has made in 2020 and have decided to continue supporting us. It is also a pleasure for us to welcome Octopus, IQ Capital and Jonathan Milner to the syndicate and we look forward to working with them. This investment will help us develop our approach to best target the therapeutic areas where we can have the greatest impact. “
Dr. Uzma Choudry, Early Stage Investor at Octopus Ventures, commented: “Targeting sick cells without affecting healthy cells is the holy grail of medicine. Because of this, we are very excited to support the brilliant NanoSyrinx team in developing its targeted (biological) delivery platform for treating disease. The first applications of this technology will be in the area of cell and gene therapy, where we could see how it can be used to develop highly effective cancer treatments with significantly reduced side effects. The opportunity is enormous and we look forward to working with Joe and the team to make the vision of NanoSyrinx a reality. “
Dr. Arnaud Autret, Investment Principal at M Ventures, said: “NanoSyrinx has made very good progress since our pre-seed investment and we look forward to continuing to support the NanoSyrinx team and welcoming strong new investors. This new pay raise will help further develop this truly differentiated approach to non-viral delivery systems for cell and gene therapy, a high-growth market. “
NanoSyrinx Ltd was founded in 2020 to develop a fully customizable genetic platform that selectively delivers peptide and protein payloads directly into the cytosol of target cells. It was first identified by the Waterfield Lab at Warwick Medical School, University of Warwick.