London-based startup that develops novel immunoglobulin antibodies to treat cancer, Epsilogen has raised £30.75 million ($41.20 million) in oversubscribed funding. The Series B round was led by Novartis Venture Fund and joined by 3B Future Health Fund, British Patient Capital, Schroders Capital, and Caribou Property.
The startup that began operations in 2017 as a spin out of King’s College London is focusing on development of immunoglobulin E (IgE) antibodies to treat cancer. IgE’s natural function is to provide immunological defense against certain parasites. This functionality makes it an ideal treatment of solid tumours due to its strong potency, enhanced tumour access and long tissue half-life.
The funding will enable the startup 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.
Dr Tim Wilson, CEO, Epsilogen, said: “This significant financing will not only fund demonstration of clinical Proof of Concept for MOv18 but also allow us to maintain our position as the leading pioneer in the development of IgE therapeutic antibodies for the treatment of cancer.”