Oxford startup SpyBiotech raises £4m Seed - Tech City News according to : techcitynews

SpyBiotech, a startup spun out of Oxford University, has raised £4m in Seed funding from GV (formerly Google Ventures), and Oxford Sciences Innovation (OSI). The biotech firm has developed a molecular "superglue" designed to tackle diseases and pandemics. Earlier this month, London-based biotech firm Pulmocide closed a $30.4m Series B round. "We rarely ever see a corporate like GV come in at the seed into university companies. The company, which is run by former GlaxoSmithKline scientists, received investment from SV Life Sciences, Johnson & Johnson's venture capital arm.




Run by former GlaxoSmithKline scientists, the company attracted investment from SV Life Sciences, Johnson & Johnson's venture capital arm. SpyBiotech, a startup that was borne out of Oxford University, has managed to rake in £4 million in Seed funding from GV (formerly known as Google Ventures), and Oxford Sciences Innovation (OSI). Gregg Bayes-Brown, marketing and communications manager at Oxford University Innovation, voiced the hope that this ends up being the first in a series of investments made by GV into Oxford University companies. According to London-based partner Tom Hulme, about half of its investments to date in Europe are in biotechnology and life sciences, with life sciences accounting for around one-third of all investments for GV overall. According to the team, this could be used to create vaccines at a much faster rate than is currently possible.

Oxford University's Spybiotech raises £4m in seed funding to tackle pandemics

"We rarely ever see a corporate like GV come in at the seed into university companies," said Gregg Bayes-Brown, marketing and communications manager at Oxford University Innovation. Spybiotech has developed a molecular superglue which it believes can be used to create vaccines more quickly than is currently possible and help tackle pandemics. Oxford University has enjoyed a boom in innovation activity in recent months. An Oxford University company developing a biological superglue to tackle diseases and pandemics has won £4m of early-stage backing from Google 's venture capital arm GV and Oxford Sciences Innovation (OSI), allowing it to spin out into an independent business. The early-stage seed funding will allow Spybiotech to prepare for phase one trials.


collected by :Lucy William

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