PolyProx Therapeutics, a Cambridge, UK-based biotechnology company focused on the discovery and development of novel biopharmaceuticals for the treatment of cancer, raised £3.4m in seed funding.
The round was co-led by Cambridge Innovation Capital plc (CIC), RT Capital and Cambridge Enterprise.
The company intends to use the funds to expand research operations to validate its technology across a range of tumour targets over the next two years.
A spin out of the Department of Pharmacology at the University of Cambridge, PolyProx Therapeutics is advancing a new class of drugs, called Polyproxin™ molecules, that are able to selectively target tumour cells and trigger the natural degradation machinery contained within the cell to arrest tumour growth.
The company is based on over a decade of research and intellectual property from Professor Laura Itzhaki’s laboratory. Professor Itzhaki, Founder and Chief Scientific Officer, is joined at PolyProx Therapeutics by serial Cambridge biotech entrepreneurs Kevin Moulder as Chief Operating Officer and Andrew Sandham as Executive Chairman.
PolyProx Therapeutics is based at the Babraham Research Campus and is currently recruiting.