1. Scrip

PsiOxus Will Seek $50m Series D Financing In H1 2018 To Fund Pipeline

 
• By Sten Stovall

PsiOxus Therapeutics' CEO tells Scrip it will seek the fresh funding next year to progress its pipeline which aims to treat solid tumors through systemic delivery of oncolytic viruses.

Pipeline
PsiOxus Seeks Further Funds In 2018 To Progress Three Pipeline Assets • Source: Shutterstock

PsiOxus Therapeutics Ltd. says it has adequate funds for the moment after a freshly earned $15m milestone from partner Bristol-Myers Squibb Co – but its ambitions to move forward with its novel pipeline will send the firm back to investors for a Series D Financing to raise around $50m in the first half of 2018.

The UK-based biotech this month received regulatory approval for a Phase I trial of NG-348, the first of its gene therapy for tumor products, triggering a $15m milestone from partner BMS under their deal inked a year ago to develop PsiOxus’ lead oncolytic virus enadenotucirev, which can be administered intravenously and which has been engineered to contain two additional immune-therapeutic transgenes

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

More from Business

In Brief: US FDA Delay Sends Biohaven Shares Down

 
• By Andrew McConaghie

The US regulator’s decision has taken Biohaven and investors by surprise, with the reason for a ‘major amendment’ status not clear.

In Brief: Sanofi Commits $20bn To US R&D And Manufacturing By 2030

 
• By Sushmita Panda

Move by French major aligns with broader industry efforts to localize production amid political pressure, as Trump pushes to onshore manufacturing and hints at easing tariff threats.

Eisai Forecasts 73% Leqembi Sales Rise In FY25 As Demand Expands

 
• By Mandy Jackson

Eisai spent most of its FY24 earnings call discussing plans for growing sales of Biogen-partnered Alzheimer’s drug Leqembi from JPY44.3bn ($304.1m) to JPY76.5bn ($525.1m) in FY25.