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OMass raises £14m to boost drug development programme
21st November 2018
The Oxford University spinout plans to use the investment to fuel its structural mass spectrometry to identify new medicines.
OMass Therapeutics, a 2016 biotech spinout from Oxford University developing structural mass spectrometry for drug development, has secured £14m in its Series A.
Syncona, the FTSE250 life sciences investment arm of the Wellcome Trust, led investment into OMass. It is the second investment by Syncona into an Oxford University spinout. The first, Nightstar Therapeutics, went from spin out to IPO in four years. The round was joined in participation by Oxford Sciences Innovation.
The investment into OMass, originally known as OMass Technologies, will support development of its structural mass spectrometry technology, invented in Professor Dame Carol Robinson’s laboratory at Oxford University’s Department of Chemistry. The technology is used to study intact protein assemblies which could uncover potential drugs for a number of currently unmet medical needs.
Professor Dame Carol Robinson, Founder & Scientific Advisor, OMass Therapeutics, said:
“It is very exciting for me to see the company take this new direction following Syncona investment. Having devoted my career to developing these mass spectrometry approaches I am now looking forward to demonstrating just how powerful they can be.”