University of Oxford and OSI have both returned for a $95.4m series C round that also included GV and, through the conversion of a note, Eli Lilly.
Evox Therapeutics, a UK-based exosome drug spinout of University of Oxford, raised £69.2m ($95.4m) in a series C round yesterday featuring the institution and its patient capital fund Oxford Sciences Innovation (OSI).
Redmile Group led the round and was joined by GV, a corporate venturing arm of internet technology group Alphabet, OrbiMed, Invus, Panacea Healthcare Ventures, Borealis Ventures, Cowen Healthcare Investments and angel investors.
Eli Lilly participated in the series C round by converting a $10m note it had secured through a collaboration agreement with Evox in June 2020.
Founded in 2016, Evox is developing therapeutics designed to treat a number of severe medical conditions with limited treatment options.
Evox uses exosomes, a part of the human body responsible for transporting materials between cells, for administering its treatments. The method enables Evox’s drugs to reach previously inaccessible areas of the body.
The series C investment will enable Evox to further develop its drug platform and advance several of its candidates into the clinic. Chau Khuong, partner at OrbiMed, will join the board of directors.
Redmile Group previously led Evox’s $45.4m series B round in 2018, which was backed by University of Oxford, OSI, GV, Panacea, Borealis Ventures, Cowen and private investors. Bill and Melinda Gates Foundation injected an undisclosed sum three months later.
The spinout had earlier raised $14.5m in series A round supplied by OSI in 2016.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
