Index injects $11m into XO1 Ltd

The funding will support the development of an antibody invented at the University of Cambridge that targets the clotting enzyme thrombin.

The investment is the largest series-A investment in a life science company completed by Index Ventures. The funding was committed from the €150m Index Ventures Life Sciences Fund, which closed in March 2012.

Company
Founded in 2013 and based in Hatfield, XO1 aims to develop an anticoagulant drug that could prevent heart attacks and strokes without causing bleeding. The company is developing the synthetic antibody ichorcumab, which targets the clotting enzyme thrombin and is based on a naturally-occurring antibody found in a patient at Addenbrooke's Hospital in 2008.

Anticoagulants are widely used to prevent thrombosis, which could lead to heart attacks and strokes. But as blood clotting is required to prevent bleeding, the use of such drugs is limited by the bleeding side-effects that they cause. The firm believes that ichorcumab has the potential to change this and intends to begin trials in human volunteers within two years.

People
Kevin Johnson is a partner at Index. He joined the board of XO1 as part of the transaction. David Grainger is a venture partner at Index and interim CEO of XO1.

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