BRIEF—£75 million series B round for Oxford-based firm

Oxford, UK-based biotech OMass Therapeutics has raised £75 million ($100 million) in a series B financing round led by new investors, GV, Northpond Ventures and Sanofi Ventures.

Originally spun out of Oxford University, OMass has taken forward the work of Professor Carol Robinson in native mass spectrometry, and has a proprietary drug discovery platform, OdyssION.

The money will be used on clinical development. The firm’s pipeline includes an antagonist of the MC2 receptor for rare diseases and a gasdermin D inhibitor for inflammatory diseases.

Chief executive Ros Deegan said: “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.”