Oxford Sciences Innovation takes part in Oxstem's $24.4m round as it begins to develop pre-clinical small molecule drug candidates for its stem cell drugs.
Oxstem, an Oxford University spinout that designs stem cell drugs, has raised £16.9m ($24.4m) from a consortium including Oxford Sciences Innovation, the university venturing fund of Oxford University.
Human Longevity, a genomics and cell therapy-based diagnostic company, and private investors also supplied cash.
Oxstem plans to develop drugs in the area of age-related regenerative medicine and drugs that can treat conditions such as cancer, neurodegenerative diseases and heart failure.
The technology works by activating the body’s own repair mechanisms.
Oxstem is the sixth spinout for co-founder Steve Davies who works at Oxford University’s Department of Chemistry.
The funding will be used to develop pre-clinical small molecule drug candidates. Oxstem also plans to develop a series of subsidiaries that each focus on a specific therapeutic need – Oxstem Oncology, Oxstem Cardio, Oxstem Neuro and Oxstem Ocular.
Steve Davies said: “We have been very fortunate in being able to collaborate with some 80 university colleagues, all leaders in their respective fields, to match our insights and skills with their domain expertise to innovate clinical models and potential therapies. This is Oxford science at its best.”
