OMass Therapeutics Announces £14 Million Series A Financing to Build a Pipeline of Proprietary Medicines
Developing novel medicines using structural mass spectrometry
Oxford, 21 November 2018 – OMass Therapeutics (“OMass”), a biopharmaceutical company using structural mass spectrometry to discover novel medicines, today announced completion of a £14 million Series A financing. New investor Syncona Ltd (“Syncona”) led the round, alongside Oxford Sciences Innovation (“OSI”). The financing supports development of a pipeline of drug development programmes.
OMass is developing novel medicines using its suite of proprietary technologies based on high-resolution mass spectrometry of intact protein assemblies. The technology enables detection of drug leads that not only bind to the target complex, but also exert a functional effect through modulation of complex formation. These platforms are being applied to drug discovery for a variety of complex targets, including membrane receptors, addressing severe unmet medical needs.
Dr Jonathan Hopper, Founder and Chief Executive Officer, OMass Therapeutics said:
“We are delighted to have secured Series A financing from Syncona and OSI, the proceeds of which will enable us to build a pipeline of innovative medicines. OMass has pioneered the use of structural mass spectrometry for drug discovery, and this funding puts us in a position to take full advantage of that capability to identify novel drugs to precisely target large protein complexes.”
Professor Dame Carol Robinson, Founder & Scientific Advisor, OMass Therapeutics commented:
“It is very exciting for me to see the company take this new direction following Syncona investment. Having devoted my career to developing these mass spectrometry approaches I am now looking forward to demonstrating just how powerful they can be.”
Dr Magdalena Jonikas, Partner, Syncona Investment Management Ltd, added:
“We are excited to work in partnership with OMass as they look to use their unique platform to develop new medicines. This financing is another example of how we seek to build truly innovative companies anchored by experienced teams and we are delighted that the OMass founders remain so highly involved in leading the company. We are especially pleased to be working so closely with Professor Robinson, who is a global leader in her field with an exceptional track record in the application of mass spectrometry for complex proteins, and with existing investor OSI.”
OMass Technologies was formed in 2016 as a spin-out from the University of Oxford. OMass applies structural mass spectrometry technology developed in the laboratory of Prof. Dame Carol Robinson to investigate protein structures and their interactions. The company was founded to provide research and consultancy to pharmaceutical and biotechnology companies. Today the company has been relaunched as OMass Therapeutics, developing its own novel medicines. Following the Series A financing, Syncona partners Edward Hodgkin and Magdalena Jonikas have joined the board of OMass.
Julia Wilson +44 (0)7818 430877
Notes for Editors:
About OMass Therapeutics
OMass Therapeutics is a private biopharmaceutical company, focused on structural mass spectrometry to discover novel medicines. The company uses its suite of proprietary technologies based on high-resolution mass spectrometry to study intact protein assemblies. The technology enables detection of drug leads that not only bind to the target complex, but also exert a functional effect through modulating complex formation. These methods are being applied to drug discovery for a variety of complex targets, including membrane receptors, addressing severe unmet medical needs. OMass is backed by Syncona Ltd and Oxford Sciences Innovation. For further information please visit the Company’s website at: www.omass.com
Syncona is a leading FTSE250 healthcare company focused on investing in and building global leaders in life science. Our vision is to deliver transformational treatments to patients in truly innovative areas of healthcare while generating superior returns for shareholders.
We seek to partner with the best, brightest and most ambitious minds in science to build globally competitive businesses.
We take a long-term view, underpinned by a deep pool of capital, and are established leaders in gene and cell therapy. We focus on delivering dramatic efficacy for patients in areas of high unmet need.
About Oxford Sciences Innovation
Oxford Sciences Innovation (OSI) is a £600m investment company dedicated to the deep science and technology emerging from the University of Oxford. Backed by GV, Sequoia, Temasek, Tencent and the Wellcome Trust, among several other global investors, OSI has been helping Oxford scientists and entrepreneurs build and grow businesses that address the world’s leading challenges, from infectious disease to sustainable energy since 2015.