Oxyrane Raises $26.5M in Series D Funding
Oxyrane UK Limited, a Manchester, England, UK-based biopharmaceutical company dedicated to the development of enzyme replacement therapies (ERT) to treat lysosomal storage diseases, has raised $26.5m in Series D funding round.
The company intends to use the capital to advance its lead ERT treatment for Pompe disease from preclinical stages through to the end of phase I/II, as well as further preclinical development of other ERTs. Pompe disease (also called Glycogen storage disease type II or acid maltase deficiency) is a rare, serious disease in which acid alpha-glucosidase enzyme deficiency leads to glycogen accumulation and muscle and nerve cells damage.
Founded in 2006 and led by CEO Michael Campbell, Oxyrane has developed a proprietary platform for the production of therapeutic proteins with homogenous, human sugar structures using the yeast Yarrowia lipolytica.
According to a written statement, through this platform the company can produce human lysosomal enzymes with 3-15 times the amount of mannose 6-phosphate, the essential targeting sugar structure which facilitates effective enzyme uptake and localization, obtained in current commercial processes. The enhanced levels of the natural targeting mechanism can deliver more than a 20-fold improvement in cellular uptake without altering the naturally occurring protein enzyme.
In conjunction with the funding, Sander Slootweg of Forbion has joined the company’s board, next to Dr. Gerald Chan of Morningside Group.
Oxyrane has research facilities in Ghent, Belgium.