SpyBiotech sneaks out of Oxford

SpyBiotech, a UK-based biochemical superglue spinout of University of Oxford, launched today with £4m ($5m) of seed funding led by university venture fund Oxford Sciences Innovation.
GV, an early-stage corporate venturing subsidiary of internet technology conglomerate Alphabet, also took part in the round.
SpyBiotech hopes to use Streptococcus pyogenes, responsible for infections such as strep throat, to develop highly effective vaccines by bonding virus-like particles (VLPs) to antigens. VLPs are an established form of vaccination, but are currently expensive, imprecise and prone to being misassembled.
The seed round will allow SpyBiotech to move its first candidates towards phase 1 trials. The spinout also expects to announce a leadership team, including a chief executive, within the coming months and raise an additional round of funding.
Lachlan MacKinnon, principal at OSI, said: “We see the Spy technology as the missing link in rapid and robust VLP vaccine design and see GV as a natural co-investment partner to take this forward.
“We are privileged to be working with four founders who bring such an impressive combination of academic prowess and clinical stage experience to the company.”