OMass Therapeutics raises $100 million to progress immunology and rare diseases drug pipeline
pharmafile | April 28, 2022 | News story | Business Services |
OMass Therapeutics have announced the $100 million (£75.5 million) Series B financing to progress its drug pipeline in immunology and rare diseases. OMass is a biotechnology company that identifies medicines against highly validated target ecosystems.
OMass was originally spun out of Oxford University, and has commercialised Professor Dame Carol Robinson’s breakthrough research in native mass spectrometry, to develop its proprietary drug discovery platform, OdyssION™.
Ros Deegan, CEO of OMass, has commented: “The completion of this oversubscribed round with such high-calibre investors is recognition of the significance of our OdyssION platform and its potential to support the development of an exciting portfolio of novel drug candidates. We have already made significant progress against highly validated but previously ‘undruggable’ targets and can now accelerate them towards clinical development while continuing to expand our pipeline.”
The OdyssION platform integrates novel biochemistry techniques, next-generation native mass spectrometry, and custom chemistry, to allow for the interrogation of protein interactions within its native ecosystem.
Edward Hodgkin, PhD, Chair of OMass’s Board of Directors and Partner at Syncona added: “We are pleased with this financing round which will support OMass as it looks to progress its pipeline of small molecule drugs. The strength of this global group of top tier life science investors reflects confidence in the company’s technology and supports our ambition to build a sustainable therapeutics business that has the potential to develop novel drugs in areas of high unmet medical need. We are also delighted to welcome Scott Biller, Diana Bernstein and Laia Crespo to the OMass Board, all who have significant experience in transforming technology platforms into sustainable drug discovery and development businesses.”