Lundbeckfond Ventures joins £22m PsiOxus financing round


Lundbeckfond Ventures and SR One have joined existing investors in a £22m financing round for UK-based PsiOxus Therapeutics.

Imperial Innovations Group and Invesco Perpetual also took part in the Series B round, which PsiOxis said it would use to advance clinical development of its latest anti-cancer vaccine ColoAd1.

Mette Kirstine Agger, managing partner of Lundbeckfond Ventures, said, “We are truly excited by the potential of ColoAd1 within the global cancer market where there is still significant unmet medical need.”

PsiOxus CEO John Beadle said, “This financing comes at a pivotal time for our company as we move our cancer portfolio from early to mid-stage clinical development.

“The new funding will enable key clinical trials to demonstrate the safety and proof of efficacy of these products in the clinic and to highlight the effectiveness of our research and development program.

“We are delighted to have the continued support of our existing investors and proud to add the support of SR One and Lundbeckfond giving us a truly exceptional group of investors.”

Copyright © 2012 AltAssets