Oxford Drug Design Ltd (previously known as InhibOx), the leading computer aided drug design and 3D chemical database company, is pleased to announce that it has completed a £1.5 million fundraise to enable it to progress a novel antibacterial programme and continue to build its proprietary platform.
The funding, which will also help finance the company’s commercial and research and development (R&D) activities, was supported by both existing shareholders including IP Group plc as well as new investors including Busolantix Investment SA, o2h ventures and a number of Business Angels. The round is tranched, subject to the achievement of certain milestones.
Oxford Drug Design will continue to build and utilise its proprietary technology platform in cheminformatics, 3D molecular similarity and computer-aided drug design, in parallel with progressing the antibacterial programme.
Paul Finn, CEO of Oxford Drug Design, said: “Oxford Drug Design has a very exciting future, with a project portfolio with tremendous potential to deliver truly novel agents to target resistant bacteria, and a very efficient and effective drug discovery technology platform. We have a fantastically able team of staff, advisors and collaborators addressing critical unmet medical need for patients and building value for shareholders. Current support from Innovate UK through the prestigious Biomedical Catalyst award, will also help accelerate our programmes. We are delighted to announce this fundraising and would like to thank our existing shareholders for their continued commitment and support and also welcome new shareholders Busolantix Investment SA and o2h ventures.”
The threat of antibacterial drug resistance is a global problem, and there is a well acknowledged need for new antibiotics with novel mechanisms of action. In a report entitled ‘Tackling Drug Resistant Infections’ commissioned by the UK government published in 2016 it was estimated that 700,000 people die every year from drug resistant strains to common bacterial infections, HIV, TB and Malaria. Oxford Drug Design is uniquely placed to tackle this problem.
About Oxford Drug Design Limited
Oxford Drug Design is based in Oxford, UK. It was founded in 2001 as a spin-out company from the Oxford University Chemistry Department, of which its founder, Professor Graham Richards, was Chairman. Building on the pioneering Screensaver Project in the early 2000’s it has developed a suite of proprietary computer-aided drug design technologies and unique 3D chemical database technologies. Oxford Drug Design applies these technologies to its internal drug discovery portfolio, which is currently focused on the anti-infective therapeutic area. These methods enable the company to solve problems that have proven challenging to the industry, such as obtaining activity against drug- resistant bacteria, through computer-aided design.
For more information, visit www.oxforddrugdesign.com or contact Paul Finn CEO, email@example.com.