Oxford Capital leads $10m round for Oxitec

The capital will be used to produce and market Oxitec's recently approved technology to combat dengue mosquitoes in Brazil. It will also enable the company to invest in training and recruitment in the country, before looking to expand its activities to other countries.

Following the success of trials in Brazil, Malaysia and Grand Cayman, Oxitec has plans to trial the technology in Panama and conduct additional studies in the US.

Existing backers, including the University of Oxford and US investor East Hill Management, also joined the round, as well as various European, South American and Asian private investors.

The investors cited the increasing global demand for dengue control as the main motivation behind the deal.

The round for Oxitec is Oxford Capital's second investment in the biotech sector this month, having previously taken part in a £3.5m investment in Welsh wound care company BioMonde.

Company
Based in Abingdon, Oxfordshire, Oxitec focuses on the control of insects with potential to carry diseases or damage crops. The company was founded in 2002 as a spinout of the University of Oxford.

In April this year, the company was granted approval in Brazil for the use of its dengue mosquito control technology. The technology produces a strain of male dengue mosquitos – which do not naturally spread disease as they do not bite – carrying genes intended to be passed on to future generations. These genes cause the offspring to die before adulthood and also result in a visible marker that allows them to be monitored.

People
Edward Mott is chief executive of Oxford Partners and has a seat on the board at Oxitec, as does Landon Clay, managing member of East Hill. Dr Luke Alphey is a director and founder of Oxitec and Hadyn Parry is the company's CEO.

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