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Epsilogen announces completion of oversubscribed £30.75m Series B finacing

Epsilogen Ltd., a global leader in the development of novel immunoglobin E (IgE) antibodies to treat cancer, announced it has secured £30.75 million in an oversubscribed Series B financing round.

 

The round was led by new investor Novartis Venture Fund and joined by new investors 3B Future Health Fund and British Patient Capital, Schroders Capital and Caribou Property. The new syndicate joins founding Series A investor Epidarex Capital and Series A investor ALSA Ventures both of whom also committed further capital in this Series B fundraising round. In connection with the closing of the financing, Dr Marianne Uteng of Novartis Venture Fund and Dr Marianne Bjordal of 3B Future Health Fund will join Epsilogen’s Board of Directors.

The proceeds from the financing will enable Epsilogen to establish clinical proof of concept for lead drug candidate MOv18 IgE in a phase Ib trial in platinum-resistant ovarian cancer, an aggressive cancer with poor treatment alternatives.

UCLTF Investor, Tanel Ozdemir said: 

“Epsilogen’s £30m Series B is a fantastic achievement and we’re delighted to welcome the likes of Novartis Venture Fund, 3B Future Health Fund, British Patient Capital, and Schroders Capital as new investors. This fundraising is a testament to the Company’s truly pioneering work with IgE antibodies and we look forward to them exemplifying the potential of this platform in the upcoming Phase 1b clinical trial.”

Read the full story here.

 
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