Mercia Technologies continues to support portfolio company PsiOxus in £25m Series C funding round.
Mercia Technologies PLC (AIM: MERC, "Mercia"), a Midlands based leader in the funding and commercialisation of technology businesses in the UK, has taken part in a £25 million Series C funding round in portfolio company PsiOxus Therapeutics ('PsiOxus' or 'the Company'), which is developing innovative oncolytic immuno-oncology treatments for cancer. Mercia has committed £0.4 million to the round alongside current investors Invesco, SROne, Lundbeckfond and Imperial Innovations. In addition, one new investor, Woodford Patient Capital Trust, has joined the syndicate.
PsiOxus has now raised in aggregate more than £55 million from investors. PsiOxus will use the new funding to conduct a Phase I clinical study.
Mercia holds c. 2% of PsiOxus following the latest funding round.
Peter Dines, Investment Director, Life Sciences at Mercia Technologies PLC, said:
"We are delighted to support this legacy portfolio business, obtained through the acquisition of Mercia Fund 2, in the company of such seasoned Life Sciences investment professionals.
"PsiOxus is the result of an effective combination of technological expertise from the University of Birmingham and Imperial College, and we are delighted to maintain our association with the Company as it moves towards the next stage of its development."