UK-based immuno-oncology developer Igem Therapeutics achieved a first close of its series A round at £2m ($2.5m) today, supplied by early-stage life science venture capital firm Epidarex Capital.
The company is in the process of identifying other investors for the round’s final close, though it has not revealed a target size.
Igem Therapeutics is based on research by Sophia Karagiannis of King’s College London (KCL). The company is working on a pipeline of antibody candidates that can destroy solid tumours.
The series A round’s first close was announced alongside the appointment of Tim Wilson as the company’s chief executive. Wilson holds a PhD in molecular biology and has 28 years of experience in the life science industry.
Wilson said: “I am excited to be joining Igem. The raising of £2m in series A funding is a testament to the compelling research results generated by Dr Karagiannis and her team at KCL.
“I look forward to leading the company as we create important new therapies for the treatment of cancer.”
Karagiannis, scientific founder of Igem, said: “The funding from Epidarex Capital will enable Igem to grow its portfolio of IgE antibody candidates and to develop its antibody platform.
“We believe that IgE antibodies are ideally suited to the treatment of solid tumours and we look forward to working with Igem to realise their potential.”
