Two Oxford Uni spin-outs merge to form IngenOx Therapeutics

By Sam Pither

23 January 2023

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Two University of Oxford spin-outs, Celleron Therapeutics and Argonaut Therapeutics, have merged to form IngenOx Therapeutics.

The newly formed company will focus on developing new precision medicine drugs and vaccines for hard-to-treat cancers, known as "cold tumours."

The merger, supported by Oxford Science Enterprises, brings together drug discovery and clinical development capabilities to accelerate R&D and ensure the continuity of new products in the pipeline.

Penningtons Manches Cooper’s corporate team advised Celleron Therapeutics, led by corporate partner James Went and including corporate senior associate Lindsay Chadwick, corporate tax partner Kathy Hills, and corporate tax associate Leonie Langley.

Argonaut Therapeutics were advised by Partner Justin Starling and Associate Director Elizabeth Yell from Osborne Clarke's Reading office.

Nick La Thangue, CEO of IngenOx, and Professor of Cancer Biology at the University of Oxford commented: “We are very excited by the merger which creates a company with a highly innovative pipeline, a talented and driven management team supported by a balanced group of investor shareholders.

“IngenOx has the critical mass to bring a range of novel cancer therapies through clinical development and onwards towards market launch. This is good news for patients, in our continued fight against cancers which remain clinically unmet.”

James Noble, Chairman of the Board of IngenOx, said: “IngenOx is a new company, with both clinical stage programmes and a research pipeline. The merger has strengthened the portfolio and the shareholder base of the company, giving IngenOx both scientific and financial strength.”

Nick Dixon-Clegg, Board Director at IngenOx, and Partner at Oxford Science Enterprises, said: “Having supported Argonaut since its spin-out from the University, we are excited to now back it merging to form IngenOx, which will host a combined cutting-edge pre-clinical and clinical platform. We look forward to continuing to support IngenOx as its pipeline matures to deliver superior and effective cancer drugs in clinically unmet disease.”

James Went, corporate partner at Penningtons Manches Cooper said: “We are delighted to have worked with the team at Celleron Therapeutics on the completion of this key strategic transaction. This builds on our long-term relationship with Celleron and we look forward to supporting Ingenox as they continue their important work on these difficult to treat cancers.”

Featured image: iStock

By Sam Pither

Sam is the Regional Editor of Biz News, responsible for both Hampshire and Dorset.

A new recruit to journalism, Sam started writing for the Business Magazine as a freelancer in May of 2022 after completing his degree in English at University College London. His passion for local businesses and ability to tell a story soon caught the attention of the publication’s management team and have led to his meteoric rise.

Sam, who lives in central Reading, takes a particular interest in technology, gaming and food and drink, having been a chef before starting his degree.