OXGENE secures £3m in Series A follow-on funding led by Mercia to expand facilities.
The follow-on investment from existing backers will support the expansion of the company's current facilities.
OXGENE is a life sciences solutions provider specialising in mammalian cell engineering for gene therapy, gene editing and antibody therapeutics. The company builds novel technology platforms that support the discovery, development and manufacture of biological medicines.
OXGENE has secured £3m in a Series A follow-on investment round led by Mercia. The capital was provided by existing backers and will be directed towards expanding the firm's current operational facilities.
The funding arrives on the back of a strong financial year in which the company doubled annual revenue for the third consecutive year. Growth has been driven by strategic licensing deals, including agreements with Fujifilm Diosynth Biotechnologies and Abcam, alongside a recent pivot towards COVID-19 diagnostic and therapeutic initiatives.
From the founder
"OXGENE has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development."
Jo Bath
Chief Operating Officer at OXGENE
Use of funds
- 01Build out infrastructure
