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Oxford-based biotech company, Theolytics has announced the closing of a US $6.8 million (£5 million) Series A round.
The round was co-led by Epidarex Capital and Taiho Ventures LLC with participation from existing investor, Oxford Sciences Innovation (OSI).
The financing will be used to progress the company’s pipeline of candidates towards human clinical trials.
WHY IT MATTERS
Theolytics will use the funding to build on its plans to create a change in the oncolytic viral therapy field. The company aims to accomplish this by using its phenotypic screening platform to discover and develop targeted candidates, suitable for intravenous delivery and optimised for a chosen cancer patient population.
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OXFORD, England, Jan. 7, 2021 /PRNewswire/ Theolytics, a UK biotech harnessing viruses to combat cancer, today announced the closing of a US $6.8 million (UK £5 million) Series A round. The round was co-led by Epidarex Capital and Taiho Ventures LLC with participation from existing investor, Oxford Sciences Innovation (OSI). The financing will be used to progress the company s pipeline of candidates towards human clinical trials.
Theolytics is focused on creating a step-change in the oncolytic viral therapy field, by using its phenotypic screening platform to discover and develop highly efficacious, targeted candidates, suitable for intravenous delivery and optimised for a chosen cancer patient population.
First Light Fusion raises $25 million
- First Light expands into new Oxford premises and is recruiting a further 23 roles
- New funding will accelerate pathway to fusion, while enabling First Light Fusion to progress gain experiment planning and reactor development
OXFORD, England, Dec. 23, 2020 /PRNewswire/ First Light Fusion, an Oxford-based global leader in researching energy generation via inertial fusion, has raised $25 million from both existing and new investors. The funding round was led by Oxford Sciences Innovation (OSI) and includes IP Group plc and Hostplus.
The new funding will enable First Light to add 23 new employees across its science, engineering and simulation departments taking the total team to over 60 and allowing First Light to significantly upgrade computational and experimental resources. First Light will also use the new funding to accelerate other core workstreams, including planning for its prototype gain-scale experiment and further grid-scale react
First Light Fusion s reactors could produce energy much more cheaply than other renewables
An Oxford start-up developing nuclear fusion technology has raised $25m (£19m) in fresh cash as it plots a first-of-its-kind plant to be ready well ahead of government targets.
First Light Fusion, which was spun out of Oxford University, said the latest funds would allow it to almost double its team of scientists and engineers to more than 60 staff, and upgrade its equipment to speed up development of the fusion plant, where energy is produced by fusing together atoms in a safe, non-polluting process.
It believes its technology, which uses a projectile process to spark the reaction, accelerates the pathway to a commercial grid-ready reactor , potentially bringing forward government targets which currently aim for a plant to be operating as soon as 2040.
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