On July 8, 2021 Theolytics reported that M Ventures – the strategic venture capital arm of Merck – joined the Theolytics’ investor syndicate alongside Epidarex Capital and Taiho Ventures in an extension to the Series A financing, which includes additional investment from Taiho Ventures and the University of Oxford (Press release, Theolytics, JUL 8, 2021, View Source [SID1234630922]).
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Spun-out of the University of Oxford in 2017, Theolytics has been developing the world’s largest library of potential adenovirus product candidates and breakthrough bioselection systems. The company’s internal pipeline development focuses on oncolytic virus therapies, while the proprietary platforms can be applied across other adenovirus-based modalities.
The expanded Series A funding will support the progress of internal programmes in ovarian cancer, and a second cancer indication in addition to further advancing the company’s unique technology platforms. As a part of Theolytics’ accelerated growth, the company will transition to state-of-the-art facilities on Oxford Science Park.
Charlotte Casebourne, CEO of Theolytics said "A warm welcome to the M Ventures team. This investment further validates the breakthrough potential of Theolytics’ technology, and will enable us to accelerate our progress in developing transformative therapies for patients in need."
Therese Liechtenstein said "Oncolytic virus therapies have the potential to help multiple large patient groups in oncology however their translation to date has been hampered by significant challenges. Theolytics is the first company to apply a truly systematic oncolytic virus discovery platform to overcome these challenges and build the next-generation oncolytic virus therapies. After actively exploring this space for a number of years, we as M Ventures are delighted to join the syndicate and become part of Theolytics. We look forward to supporting the team’s mission to make oncolytic viruses a successful novel therapeutic modality to help clinicians and their patients."
Kenneth Powell, Chair of the Board said "I am delighted that Therese Liechtenstein will join our Board of Directors. M Ventures represents a wealth of drug development and commercialisation expertise to support Theolytics’ future progress."