Oxford spinout OMass has pivoted from offering consulting services to developing its own drugs after closing a series A round backed by Oxford Sciences Innovation.

OMass Therapeutics, a UK-based biopharmaceutical spinout of University of Oxford, closed a £14m ($17.9m) series A round yesterday featuring university venture fund Oxford Sciences Innovation.
The round was led by Syncona, a life sciences investment company backed by charities Wellcome Trust and Cancer Research UK, with a $12.5m commitment.
Founded in 2016, OMass uses structural mass spectrometry to visualise complex, multi-component binding networks within macromolecular protein assemblies. The technology is used to identify potential drug candidates for diseases with a severe unmet need.
The spinout advances research led by founder and scientific adviser Carol Robinson, a professor in the Department of Chemistry, who focuses on the use of mass spectrometry to study proteins structures and their interactions.
The company originally launched as a consultancy called OMass Technologies that assisted pharmaceutical and biotech firms with their drug discovery programs, and operated that model until its relaunch in conjunction with the series A round this week.
OMass will use the series A funding to develop its own pipeline of drug development programs. Edward Hodgkin and Magdalena Jonikas, partners at Syncona, have joined the board of directors.
Robinson said: “It is very exciting for me to see the company take this new direction following Syncona investment. Having devoted my career to developing these mass spectrometry approaches I am now looking forward to demonstrating just how powerful they can be.”