RARE Daily

OMass Raises $100 Million to Advance Drug Pipeline

April 28, 2022

OMass Therapeutics said it completed a $100 million (£75.5 million) series B financing round to advance its pipeline of therapeutics for rare disease and immune disorders.

Photo: Ros Deegan, CEO of OMass

GV, Northpond Ventures, and Sanofi Ventures led the round, which included participation from existing investors, Syncona, Oxford Science Enterprises, and Oxford University.

Proceeds from the financing will be used to advance OMass’s portfolio towards clinical trials. This includes the development of an insurmountable antagonist of the MC2 receptor for congenital adrenal hyperplasia, a gasdermin D inhibitor for the treatment of inflammatory diseases.

“We have already made significant progress against highly validated but previously undruggable targets and can now accelerate them towards clinical development while continuing to expand our pipeline,” said Ros Deegan, CEO of OMass.

OMass was originally spun out of Oxford University to develop a proprietary drug discovery platform called OdyssION. The platform integrates novel biochemistry techniques, next-generation native mass spectrometry, and custom chemistry to allow for the interrogation of protein interactions within its native ecosystem while avoiding the confounding complexity of the cell.

“By studying proteins in their native state as found within the cell, the OMass platform can address many important targets that have been elusive until now,” said Scott Biller, executive venture partner at GV. “Through this platform, OMass has created an impressive portfolio of therapeutic programs with the potential to dramatically improve the lives of patients.”

Following the financing, Scott Biller, executive venture partner at GV, Diana Bernstein, vice president at Northpond Ventures, and Laia Crespo, partner at Sanofi Ventures will join the OMass board of directors.

Author: Rare Daily Staff

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