Coventry-based biotech firm NanoSyrinx has succeeded in closing a significant £10 million funding round, attracting investment from Eli Lilly.
- The funding aims to further NanoSyrinx’s pioneering work on nanosyringe technology for targeted therapeutic delivery.
- Renowned investor groups BGF, Octopus Ventures, and M Ventures co-led the funding efforts, supported by existing investors.
- NanoSyrinx has announced Edwin Moses as its new Chairman, bringing extensive experience to the company’s board.
- The firm plans to enhance its intracellular delivery system potentially transforming treatment options for ‘undruggable’ diseases.
Coventry-based NanoSyrinx has successfully completed a £10 million funding round, a considerable achievement in the biotech sector, which has drawn substantial interest from US pharmaceutical giant Eli Lilly. This demonstrates significant confidence in NanoSyrinx’s cutting-edge technology and its potential impact on therapeutic delivery systems.
The newly acquired capital will be directed towards advancing the company’s novel ‘nanosyringe’ platform. This technology aims to revolutionise the way biologic therapeutics are delivered within cells, overcoming current barriers in drug accessibility. Such innovation could unlock the potential of new drugs to target previously inaccessible disease sites effectively.
The funding round was strategically co-led by prominent investors, including BGF, Octopus Ventures, and M Ventures, with Eli Lilly and Company adding their support. These efforts were further reinforced by existing backers IQ Capital and Meltwind. The consortium’s involvement highlights the strategic importance and promising outlook of the nanosyringe platform.
In tandem with the funding announcement, NanoSyrinx has appointed Edwin Moses as its new Chairman. Moses, previously at the helm of Ablynx and Oxford Asymmetry International, brings a wealth of experience in biotech management and strategic growth. His leadership is expected to guide NanoSyrinx through its next phase of development and commercialisation.
Founded in 2020 to harness research from the University of Warwick’s Medical School, NanoSyrinx aims to deliver functional proteins such as antibodies and enzymes directly into cells, addressing the growing need for treatments targeting diseases that are currently considered ‘undruggable’. This approach leverages naturally occurring ‘nanosyringes’ to provide a novel solution in biologic drug delivery.
The strategic funding and leadership changes position NanoSyrinx to potentially transform the treatment of elusive diseases.
