Evox Therapeutics raises $95.4 million in over-subscribed financing round

Oxford University, UK, biotech spinout Evox Therapeutics today announced that it has raised £69.2 million ($95.4 million) in a Series C financing round.

The financing was significantly oversubscribed with high demand from both existing and new investors. The Series C financing was led by Redmile Group which was joined by new investors OrbiMed and Invus. In addition to Redmile, all existing Series B investors reinvested, including major investors Oxford Sciences Innovation (OSI), GV (formerly Google Ventures) and Cowen Healthcare Investments. Eli Lilly (NYSE: LLY) also converted a $10 million convertible note that formed part of a 2020 collaboration agreement, into equity as part of this round.

Proceeds from this financing will support the advancement of Evox’ exosome-based therapeutics pipeline, including progression of several rare disease assets into the clinic, and continued development of its world-leading DeliverEX exosome drug platform. In connection with the financing, Evox will appoint Chau Khuong, a partner at OrbiMed, to its board of directors.