Orbit Discovery Ltd, an Oxford, UK-based biotech company developing a peptide identification and optimization platform, closed a £6.9M Series A financing.
The round was led by Oxford Sciences Innovation with participation from new investors RT Ventures, Borealis Ventures, Perivoli Innovations, and existing investors Oxford University. Additionally, Borealis Managing Partner Phil Ferneau and Oxford Investment Consultants’ Partner James Mallinson join Orbit’s Board of Directors.
Co-founded in 2015 by Professors Graham Ogg and Terry Rabbitts from Oxford University’s Weatherall Institute of Molecular Medicine and led by Alex Batchelor, CEO, Orbit uses proprietary technology originally developed to provide a diverse library of peptides to probe the cell surface. The initial scientific objective was to present random peptides to T-cells with unknown specificity as a way to establish their epitopes. As the technology also supports the presentation of non-natural amino acids, constrained peptides and peptides modified after translation, the company has also established programs in peptide drug discovery and development, both internally and in partnership with biotechnology and pharmaceutical companies.
The company intends to use the funds to expand platform industrialization.