Oxford Drug Design Limited, an Oxford, England, UK-based biotechnology company with a proprietary computational and machine learning platform, raised £2.2M in funding.
This brings the firm’s total amount of grant and equity funding to over £10M. Backers included ACF Investors, o2h Ventures, Meltwind Advisory, a number of returning angels and new investors and the US-based R42 Group.
Led by Alan D. Roth, CEO, Oxford Drug Design designs and develops small-molecule drugs against cancer, based on differentiated dual core competences. Its validated platform combines pioneering AI and machine learning methods with deep expertise in aminoacyl-tRNA synthetases, accelerating advances in the discovery and development of oncology therapeutics with novel mechanisms of action.
A spinout of Oxford University, the company intends to use the funds to further its drug research and discovery starting with a proof-of-concept study to validate its approach against cancer. It will also establish a new commercial offering of its proprietary AI platform to pharmaceutical and biotechnology companies. OOD’s validated platform is in increasing demand from third parties in the pharmaceutical space and is already generating revenue separately from the company’s direct work in oncology drug discovery. The investment will also go towards operational purposes and further expansion ahead of a Series A investment round this year.
FinSMEs
19/05/2022