IsomAb, a Nottingham, UK-based biopharmaceutical company, raised £7.5M in funding.
The round was led by Broadview Ventures with participation from MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and part of the Midlands Engine Investment Fund (MEIF), Mercia’s EIS funds and existing investor SCVC.
The company intends to use the funds to carry out further studies in preparation for the start of clinical trials.
Founded in 2022 by Prof. David Bates and Prof. Steve Harper as a spin-out from the University of Nottingham, and led by CEO Jackie Turnbull, IsomAb is a biopharmaceutical company that focuses focuses on the treatment of peripheral arterial disease (PAD), a relatively common condition where the arteries in the legs and feet become blocked by fatty deposits, resulting in lack of blood flow. It is advancing isoform specific antibodies for disease modifying treatment of life limiting diseases with peripheral ischaemia. ISM-001 is high affinity, humanised antibody to restore blood flow in diabetic vascular disease.
The company is based in Nottingham’s BioCity and employs six staff.
Commenting on the news, CEO Jackie Turnbull said: “IsomAb’s lead program, targeting VEGF-A165b aims to treat peripheral arterial disease in the large proportion of patients with concomitant metabolic syndrome and Type II diabetes. We are delighted to have attracted a group of high-quality investors to support the early development of our novel program toward CTA filing to enter the clinic.”
FinSMEs
20/02/2024