OMass compiles $53.9m series A

OMass Therapeutics, a UK-based drug design and development spinout of University of Oxford, yesterday added £27.5m ($35.7m) of series A funding from investors including the university and its venture fund Oxford Sciences Innovation (OSI).
Commercialisation firm Syncona led the extension with a $21.6m commitment – having also led the initial $17.9m close in 2018 with participation from OSI – to bring round’s total to $53.9m.
OSI supplied $13.6m for the series A extension, while University of Oxford injected $650,000.
Founded in 2016, OMass Therapeutics is working on therapies for immunological and genetic disorders that target G-protein-coupled-receptors  (GPCRs) – mechanisms on the cellular surface which receive energy such as peptides, sugars and proteins.
GPCRs form part of the cell’s membrane protein, known as the gatekeeper of cells for their role in modulating inbound molecules and information.
OMass’s drug discovery program exploits structural mass spectrometry to investigate electromagnetic molecular interactions, of greater complexity than electron pairs linking different atoms. These are known as non-covalent interactions.
The cash will help OMass progress three drug development programs, including a lead asset currently being prepared for preclinical development.
Lachlan Mackinnon, principal at OSI, said: “Emerging biophysical technologies like native mass spectrometry can meaningfully improve drug discovery and impact global health outcomes.
“We formed OSI to turn Oxford’s world-beating science into world-changing companies and believe that this funding puts us in a position to take full advantage of OMass Therapeutics’ capability to identify novel drugs against membrane proteins.”