UK - Novartis leads £16m round for Oxagen Limited

Milton Park-based Oxagen is building a novel drug pipeline with a focus on inflammatory and respiratory diseases. The company was established in 1997.

The new funding will be used primarily to advance Oxagen's CRTH2 anatagonist programme in inflammatory and respiratory diseases, which will include the completion of an ongoing Phase IIb clinical study of the lead molecule in moderate persistant asthma. The capital will also be used to expand the therapeutic indications for CRTH2 antagonists using the lead molecule, as well as back-up compounds. Anja Koing of Novartis will join the board of the business.

Other investors in the round include existing backers MPM Capital, SV Life Sciences, Advent Ventures, Bessemer Venture Partners, Omega, Abingworth, IBT, Red Abbey and The Wellcome Trust.

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• Topics
• Early-stage
• UK / Ireland