Coventry, UK, Tuesday 10th September 2024:

NanoSyrinx, a synthetic biology company developing nanosyringes as a novel platform for targeted intracellular delivery of biologic therapeutics, today announced that it has closed a c. £10 million (c. $13 million) financing round.

The funding will support further advancement of the Company’s technology platform to accelerate the development of biologic therapeutics against a pipeline of previously ‘undruggable’ intracellular targets. The Company also announced the appointment of Dr. Edwin Moses as Chairman of the Board of Directors.

The round was co-led by BGF, Octopus Ventures and M Ventures, with support from existing investors, IQ Capital and Meltwind. Global medicines company Eli Lilly and Company also participated. The funding will be used to drive further development of NanoSyrinx’s technology platform, to realise its full potential in advancing intracellular medicine. The platform is based around naturally occurring ‘nanosyringes’ which are engineered to selectively deliver peptide and protein payloads – including functional gene editors and a range of other enzymes – directly to the cytosol of targeted cells.

Alongside the financing, Edwin Moses has joined as NanoSyrinx’s Chairman, taking over from Stephen Taylor who has led the Board since the Company’s inception. Edwin is a renowned entrepreneur and C-level executive in the life sciences industry, bringing over 30 years of Board-level experience from over 20 life science companies. Currently Chairman of Achilles Therapeutics plc, LabGenius Ltd and Avantium NV, he has an impressive track record building and scaling innovative biotech platform companies, achieving multiple successful exits and raising over €700 million in equity and debt financing to date.

Previously, Edwin was CEO of Ablynx NV until its agreed takeover by Sanofi for $4.8 billion in 2018, and CEO of Oxford Asymmetry International plc prior to its sale to Evotec for £316 million. He led both companies’ successful IPOs on the London Stock Exchange, EuroNext and NASDAQ. His appointment as Chairman of NanoSyrinx’s Board of Directors will help support the executive team in maximising value from the Company’s nanosyringe platform, through a combination of in-house pipeline development and strategic commercial partnerships.

Dr. Joe Healey, Chief Executive Officer, NanoSyrinx said: “Edwin has significant experience as a successful CEO and Chairman, with extensive involvement in biotech fundraising, strategic commercial partnerships and successful exits. We are thrilled to have him joining as Chair of our Board as we drive forward with our ambitious plans. He joins us at a pivotal stage alongside this financing, which places us in a well-capitalised position to further develop our intracellular drug delivery technology to realise its full potential in developing medicines. We would like to thank Steve for all his help over the years, and recognise the instrumental part he has played in getting the company to where it is today.”

Dr. Edwin Moses, Chairman, NanoSyrinx commented: “NanoSyrinx’s technology promises to make a tremendous positive difference to the very challenging problem of intracellular delivery of therapeutics. I am delighted to join the Board and help build on the momentum of this latest fundraise, to support the Company and its leadership team in the further development of this unique platform which has the potential to create enormous value and make a real difference to patients’ lives.”

Lucy Edwardes Jones, Investor at BGF said: “While huge advances have been made in the field of biologic therapies, the delivery challenge remains a key bottleneck. We are excited by the potential of NanoSyrinx’s unique technology to unlock this, enabling promising new drugs to reach previously inaccessible disease targets in the body. We are looking forward to working closely with Edwin, the team and our co-investors to see this exciting technology through to impact.”

ENDS

About NanoSyrinx www.nanosyrinx.comLink opens in a new window

NanoSyrinx is a synthetic biology company developing nanosyringes as a novel platform technology for the targeted intracellular delivery of biological molecules.

Biological drugs are revolutionising medicine, but delivering functional protein drugs – such as antibodies and enzymes – to the interior of cells remains a significant challenge, leaving many promising intracellular targets inaccessible to this new generation of therapeutics. By leveraging next-generation technology based around naturally occurring ‘nanosyringes’, NanoSyrinx’s delivery platform is addressing this challenge and unlocking a broad array of targets which are currently considered ‘undruggable’.

NanoSyrinx was co-founded in 2020 by Dr Healey, Prof. Waterfield and Dr Hapeshi to commercialise the team’s research at the University of Warwick’s Medical School, following the completion of an extensive international market validation exercise under the ICURe programme, funded by Innovate UK.

The Company was previously named the winner of the 2022 AbbVie UK Golden Ticket accelerator programme and was featured in PwC UK’s Life Sciences Future50.

For more information, please visit https://www.nanosyrinx.comLink opens in a new window/

Follow NanoSyrinx on Twitter @NanoSyrinx and LinkedIn @NanoSyrinx.

About BGF www.bgf.co.ukLink opens in a new window

BGF was set up in 2011 and has invested over £4 billion in more than 560 companies, making it the most active growth capital investor in the UK and Ireland.

BGF has to date invested £200 million in the field of life sciences, supporting companies across the fields of diagnostics, medtech and digital health, as well as services, software and tools supporting therapeutic development.

BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 15 offices.

For more information, please visit https://www.bgf.co.ukLink opens in a new window

About Octopus Ventures www.octopusventures.comLink opens in a new window

Octopus Ventures, part of Octopus Group, is one of the largest and most active venture capital investors in the UK and Europe. We’re on a mission to invest in the people, ideas and industries that will change the world.

We back entrepreneurs ─ from the first cheque their business receives, right through to IPO. We manage £1.8bn and are investing in more than 200 businesses, focusing on the companies solving three of the world’s biggest problems: those building a sustainable planet, empowering people, and revitalising healthcare.

We know what it takes to build a successful business. We support founders through our strong teams, sector expertise and deep networks, using our people and talent to help them build a better tomorrow.

About M Ventures www.m-ventures.comLink opens in a new window

M Ventures is the strategic, corporate venture capital fund of science and technology company Merck. From its headquarters in the Netherlands and offices in Germany, USA and Israel, M Ventures invests globally in transformational ideas driven by innovative entrepreneurs in the areas of Healthcare drug development, Life Science tools, Electronics and Frontier Technology & Sustainability. Taking an active role in its portfolio companies, M Ventures teams up with management teams and co-investors to translate scientific discoveries into commercial success. M Ventures focuses on identifying and financing novel solutions to some of the most difficult challenges, through company creation and equity investments in fields that will impact the vitality and sustainability of Merck's current and future businesses. For more information, visit www.m-ventures.comLink opens in a new window.