Oxford University spins out Orbit Discovery as it secures funding for its peptide discovery program.
Orbit Discovery, a therapeutic drug spinout from Oxford University, has raised an undisclosed sum in a seed round led by Oxford Sciences Innovation (OSI), the university venturing fund of Oxford University.
OSI was joined by the Oxford Technology and Innovations EIS Fund, managed by Oxford Investment Consultants, and the OT(S)EIS fund, managed by Oxford Technology.
Spun out in January 2016, Orbit is using technology developed at Oxford’s Weatherall Institute of Molecular Medicine to create a screening platform to identify peptide drug candidates. The company hopes its platform will enable the production of lower cost drugs that are as effective as more expensive, highly-targeted treatments.
The platform will be used for both internal industry drug discovery programs and collaborative research.
Orbit was also supported by Oxford University’s commercialisation arm Isis Innovation, the commercialisation arm of Oxford University, assisted Orbit with filing patents, writing a business plan and pitching the company.
Alex Batchelor, chief executive of Orbit, said: “Peptides offer several advantages as drugs. They are small enough to be delivered in tablet form, are highly specific and have safe degradation products.
“Recent synthetic improvements to peptides have opened up the potential for discovery of drugs for more diseases, but the technologies available for screening have not supported these improvements. Our technology directly addresses this need so we will be screening for active peptides in a range of chronic disease areas.”
