NanoSyrinx, a biotech firm in Coventry, has closed a £10m funding round.
- US pharmaceutical leader Eli Lilly joins the investment, marking significant industry interest.
- The funds will advance innovative ‘nanosyringe’ technology for intracellular drug delivery.
- New leadership at NanoSyrinx is set to accelerate strategic goals.
- Biotech investors show confidence in promising technology targeting ‘undruggable’ diseases.
NanoSyrinx, a biotechnology company based in Coventry, has successfully closed a significant £10 million funding round. This development highlights the growing interest in their pioneering ‘nanosyringe’ technology aimed at transforming drug delivery systems.
US pharmaceutical giant Eli Lilly becomes the latest noteworthy investor, signifying strong industry validation. The inclusion of such a major player underscores the potential impact of the technology in addressing current challenges in biologic therapies.
The fresh influx of capital is earmarked for advancing NanoSyrinx’s novel platform dedicated to the targeted intracellular delivery of biologic therapeutics. This technology utilizes naturally occurring nanosyringes to deliver functional protein drugs — specifically antibodies and enzymes — directly into cells. This breakthrough could potentially enable treatment access to disease areas previously deemed ‘undruggable’.
Backing this round were co-leaders BGF, Octopus Ventures, and M Ventures, with support from existing investors such as IQ Capital and Meltwind. Investors have expressed optimism regarding the potential for nanosyringes to address key bottlenecks in the deployment of biologic therapies. Lucy Edwardes Jones, an investor at BGF, emphasized the innovative approach’s promise in unlocking new drug delivery avenues.
In parallel with the funding announcement, NanoSyrinx has appointed Edwin Moses, the esteemed former CEO of Ablynx, as the new chairman of the board. Moses, with a venerable track record, replaces Stephen Taylor, bringing with him extensive experience in biotech fundraising and strategic partnerships. Dr. Joe Healey, CEO of NanoSyrinx, praised Moses’s appointment as pivotal for scaling the company’s operations and realizing its strategic goals.
Founded in 2020, NanoSyrinx aims to commercialize research from the University of Warwick’s Medical School. The firm’s objectives center around leveraging their nanosyringe technology to revolutionize the delivery of biologic therapeutics. This strategy is part of a broader vision to enhance therapeutic efficacy and address diseases currently lacking effective treatments.
The significant investment and leadership changes position NanoSyrinx to revolutionize drug delivery in the biotech industry.
