Coventry-based NanoSyrinx has successfully closed a £10 million funding round, drawing investment from US pharma leader Eli Lilly.
- The funds will enhance NanoSyrinx’s development of nanosyringes for targeted intracellular drug delivery, a novel biotech platform.
- The investment round saw participation from prominent entities including BGF, Octopus Ventures, and M Ventures, alongside Eli Lilly.
- With this financial boost, NanoSyrinx has appointed Edwin Moses as chairman, succeeding Stephen Taylor.
- NanoSyrinx aims to leverage its unique technology to advance the delivery of biologic therapeutics to traditionally inaccessible cell sites.
Coventry-based NanoSyrinx has successfully concluded a substantial £10 million funding round, securing investment from several reputable sources, most notably the US pharmaceutical giant, Eli Lilly. This injection of funds is designated to advance NanoSyrinx’s pioneering work in developing nanosyringe technology, a cutting-edge platform designed for the targeted intracellular delivery of biologic therapeutics, potentially revolutionising treatment modalities.
The funding initiative was spearheaded by BGF, Octopus Ventures, and M Ventures, with additional backing from Eli Lilly and existing investors such as IQ Capital and Meltwind. The collective effort of these investors underscores the significant potential seen in NanoSyrinx’s innovative approach to overcoming the current challenges faced in biologic therapy delivery.
According to Lucy Edwardes Jones, an investor at BGF, the field of biologic therapies has witnessed substantial advancements; however, the delivery of these therapies remains a critical hurdle. NanoSyrinx’s unique nanosyringe technology holds promise in unlocking new possibilities, enabling novel drugs to reach disease targets within the body that have thus far remained inaccessible.
Further solidifying its strategic direction, NanoSyrinx has announced the appointment of Edwin Moses as its new chairman. Moses, known for his successful tenure as CEO at Ablynx, where he oversaw its $4.8 billion acquisition by Sanofi, succeeds Stephen Taylor, who has been a cornerstone of the company since its inception. CEO Dr. Joe Healey praised Moses for his extensive experience in biotech fundraising and strategic partnerships.
Founded in 2020, NanoSyrinx emerged from research conducted at the University of Warwick’s Medical School. The company’s mission is to utilise naturally occurring nanosyringes to facilitate the delivery of functional protein drugs, such as antibodies and enzymes, to intracellular targets previously deemed ‘undruggable’. This advancement could mark a significant shift in the treatment landscape, providing new avenues for drug delivery and efficacy.
NanoSyrinx’s innovative endeavours and strategic leadership seem poised to significantly impact the field of biologic therapeutics.
