Oxford's Grey Wolf Therapeutics announces oversubscribed $50m Series B
Grey Wolf Therapeutics, a clinical-stage biotechnology company leveraging first-of-its-kind antigen modulation therapies to address immune dysfunction in oncology and autoimmunity, has closed an oversubscribed $50 million Series B financing expansion, bringing the total amount of Series B funds raised to $99 million.
The Series B expansion round was led by ICG’s Life Sciences team and included further investment from existing investors Pfizer Ventures, Andera Partners, Canaan, Earlybird Venture Capital, Oxford Science Enterprises and British Patient Capital. Proceeds from the round will be leveraged to broaden the scope of the company’s ongoing Phase 1/2 clinical trial of its lead immuno-oncology candidate, GRWD5769, in a range of solid tumour types. The funding also enables the company to expand research and development (R&D) for its versatile antigen modulation approach into treatments for autoimmune disease indications.
Peter Joyce, Ph.D., chief executive officer of Grey Wolf Therapeutics, said: “The funds raised as part of this Series B expansion round allows us to enrich our ongoing clinical trial to include patients with a wider variety of tumour types and evaluate new combination treatment cohorts.
"In addition, the new capital enables us to more fully explore the breadth of potential therapeutic applications for our antigen modulation technology. As such, we are expanding our R&D efforts and evaluating these broader therapeutic applications for our unique technology.”
Tracy Weightman, Associate Director, Life Sciences at ICG, added, “Grey Wolf is an exciting growth stage UK biotechnology company with a novel and differentiated approach that has the potential to transform the lives of millions of patients globally. This investment demonstrates our commitment to building leading biotechnology companies and enabling them to compete on a global stage. We are pleased to support Grey Wolf through the next stage of its growth journey, enabling the company to advance its clinical development strategy and expand into new therapeutic areas.”
In conjunction with the financing, Grey Wolf has announced that Ms. Weightman has been appointed to the company’s board of directors.
