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Evox Therapeutics Ltd.. (2/18/21). "Press Release: Evox Therapeutics Completes £69.2 Million Series C Financing".

Organisations Organisation Evox Therapeutics Ltd.
  Organisation 2 Redmile Group LLC
Products Product DeliverEX™ exosome drug platform
  Product 2 venture capital
Index terms Index term Evox Therapeutics–SEVERAL: investment, 202102 financing round Series C £69.2m led by Redmile Group plus OrbiMed + Invus + all Series B investors
  Index term 2 Lilly–Evox Therapeutics: drug delivery technology, 202006– collab + license $20m upfront+ $1.2b milestones DeliverEX for RNAi /ASO for CNS diseases
Persons Person de Fougerolles, Antonin (Tony) (Evox Therapeutics 2017– CEO before Ablynx + Moderna Therapeutics + Tolerx + Alnylam)
  Person 2 Khuong, Chau Q. (OrbiMed Advisors 201411 Private Equity Partner joined OrbiMed 2003)
     


Financing round significantly oversubscribed by both new and existing investors Proceeds enable advancement of our exosome therapeutics into the clinic and expansion of our world-leading exosome platform

Evox Therapeutics Ltd (‘Evox’ or the ‘Company’), a leading exosome therapeutics company, today announces that it has raised £69.2 million ($95.4 million) in a Series C financing round.

The financing was significantly oversubscribed with high demand from both existing and new investors. The Series C financing was led by Redmile Group who were joined by new investors OrbiMed and Invus. In addition to Redmile, all existing Series B investors reinvested, including major investors Oxford Sciences Innovation (OSI), GV (formerly Google Ventures) and Cowen Healthcare Investments. Eli Lilly, also converted a $10 million convertible note, that formed part of our 2020 collaboration agreement with them, into equity as part of this round.

Proceeds from this financing will support the advancement of Evox’s exosome-based therapeutics pipeline, including progression of several rare disease assets into the clinic, and continued development of its world-leading DeliverEX™ exosome drug platform. In connection with the financing, Evox will appoint Chau Khuong, partner at OrbiMed, to its Board of Directors.

Dr Antonin de Fougerolles, Chief Executive Officer of Evox, commented:
“We are delighted with the support received in this Series C financing from both our existing investors and our new investors. The level of interest in this financing round is testament to the progress we have made over the last few years. Since our Series B round in 2018, we have continued to develop our DeliverEX™ platform, advance our pipeline of exosome therapeutics, expand our intellectual property portfolio, build our R&D capabilities and bolster our management team. We have also signed significant partnership deals with Eli Lilly and Takeda, two of the world’s leading pharma companies. We welcome Chau Khuong to our Board and look forward to his contributions as Evox enters its next phase of growth.”


For enquiries, please contact:

Dr Antonin de Fougerolles, Chief Executive Officer, Evox Therapeutics Ltd +44 (0) 1865 819140

Simon Conway / Natalie Garland-Collins, FTI Consulting +44 (0) 203 727 1000


About Evox Therapeutics

Evox Therapeutics is a privately held, Oxford-based biotechnology company focused on harnessing and engineering the natural delivery capabilities of extracellular vesicles, known as exosomes, to develop an entirely new class of biotherapeutics. Backed by Oxford Sciences Innovation and supported by a comprehensive intellectual property portfolio, Evox’s mission is to positively impact human health by creating novel exosome-based biotherapeutics for the treatment of various severe diseases with limited options for patients and their families. Evox has created substantial proprietary technology to modify exosomes using various molecular engineering, drug loading, and targeting strategies to facilitate targeted drug delivery to organs of interest, including the brain and the central nervous system. Exosome-based drugs have the potential to address some of the limitations of protein, antibody and nucleic acid-based therapies by enabling delivery to cells and tissues that are currently out of reach using other drug delivery technologies, and Evox is leading the development within this emerging therapeutic space.

   
Record changed: 2021-03-04

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