Theolytics, an Oxford, England-based biotech company harnessing viruses to combat cancer, closed a US $6.8m (UK £5m) Series A funding round.
The round was co-led by Epidarex Capital and Taiho Ventures LLC with participation from existing investor, Oxford Sciences Innovation (OSI). In conjunction with the funding, Dr Kenneth Powell, Chair of the Board announced Henning Steinhagen, Venture Partner at Epidarex, and Sakae Asanuma, President at Taiho Ventures as new Board members.
The company intends to use the funds to progress its pipeline of candidates towards human clinical trials.
Led by Charlotte Casebourne, CEO, Theolytics is focused on creating a step-change in the oncolytic viral therapy field, by using its phenotypic screening platform to discover and develop highly efficacious, targeted candidates, suitable for intravenous delivery and optimised for a chosen cancer patient population.