The Series A round was led by Northpond Ventures and Octopus Ventures to help bring the company manufacturing platform to market.
"Closing a significant Series A round, during these uncertain times, further validates Ori’s disruptive approach to fully automating cell and gene therapy manufacturing to increase throughput, improve quality, and decrease costs,"
The financing round was backed by Infinion Biopharma, the Scottish Investment Bank, Scottish Health Innovations, and TRICAPITAL.
"We are delighted to complete this second round with our initial investment partners and bringing in a new investment partner, Infinion. This funding will allow us to extend our work beyond the successfully completed pre-clinical trials where Aurum’s lead product has demonstrated great potential in both stroke treatment and diagnosis. We are especially pleased that Infinion have joined the investment and look forward to them helping to drive Aurum forward with their global expertise in the biopharma sector. There has been few new therapies or diagnostics approved for acute ischaemic stroke in recent years. Our products provide hope for the many patients, carers and healthcare professionals who live with the consequences of this devastating condition."
The Boston investor backs the clinical stage biotechnology firm to advance its immune-resetting therapies.
"We have two clinical stage drug product candidates, '1805 and '1104, that have demonstrated impressive efficacy and safety data in phase 2a clinical studies on Rheumatoid Arthritis and Allergic Disease respectively and we are delighted to have Morningside as a partner to advance our programs,"