$41 million Novartis-led financing for Epsilogen

UK-based developer of novel immunoglobulin E (IgE) antibodies to treat cancer, Epsilogen, has secured £30.75 million ($41.20 million) in an oversubscribed Series B financing round.

The round was led by new investor Novartis Venture Fund and joined by new investors 3B Future Health Fund and British Patient Capital, Schroders Capital and Caribou Property. The new syndicate joins founding Series A investor Epidarex Capital and Series A investor ALSA Ventures both of whom also committed further capital in this Series B fundraising round.

In connection with the closing of the financing, Dr Marianne Uteng of Novartis Venture Fund and Dr Marianne Bjordal of 3B Future Health Fund will join Epsilogen’s Board of Directors.