NanoSyrinx, a biotech innovator from Coventry, secures £10m funding.
- Major investors include US giant Eli Lilly and British Growth Fund.
- Funds to develop unique nanosyringe technology for drug delivery.
- Experienced leader Edwin Moses appointed as new chairman of NanoSyrinx.
- Aims to address challenges in biologic therapeutics delivery.
NanoSyrinx, headquartered in Coventry, has successfully achieved a £10m funding milestone, attracting major investment from recognised industry player Eli Lilly. The infusion of finance, also supported by the British Growth Fund, Octopus Ventures, and M Ventures, underpins the development of NanoSyrinx’s pioneering nanosyringe technology. This novel platform promises to revolutionise the targeted intracellular delivery of biologic therapeutics, which could significantly enhance treatment efficacy for previously inaccessible disease targets.
The strategic package of financing not only highlights the potential of NanoSyrinx’s innovative approach but also suggests a growing confidence in the biotechnology sector’s capability to tackle key delivery challenges within biologic therapies. Lucy Edwardes Jones, an investor at British Growth Fund, acknowledged this potential, expressing enthusiasm over NanoSyrinx’s ability to “enable promising new drugs to reach previously inaccessible disease targets in the body.”
In a significant leadership transition, NanoSyrinx has appointed Edwin Moses, a seasoned veteran with a successful track record in biotech, as its new chairman. Moses brings a wealth of experience from his tenure as CEO at Ablynx NV, navigating its acquisition by Sanofi for a considerable sum, and at Oxford Asymmetry International plc. His leadership is expected to steer NanoSyrinx through its growth phase, leveraging strategic partnerships and facilitating potential lucrative exits.
NanoSyrinx emerged from research at the University of Warwick’s Medical School with a focus on commercialising naturally occurring nanosyringes. The company aims to enhance the delivery of functional protein drugs, including antibodies and enzymes, striving to penetrate the complex realm of ‘undruggable’ disease sites within the human body.
The funding surge and new leadership signal a robust forward momentum for NanoSyrinx as it seeks to make significant strides in merging cutting-edge technology with practical medical applications.
NanoSyrinx’s recent funding and leadership changes position it to significantly impact the field of biotech drug delivery.
