The biotech company, which develops therapies for cancer and fibrosis, will use the extension to its Series A funding to continue with preclinical development.
Engitix, a biotech company targeting the extracellular matrix (ECM) to develop therapies for cancer and fibrosis, has closed $25 million (£18.6 million) Series A extension financing by Netherton Investments, a fund investing on behalf of Mike Platt, the co-founder and Managing Director of BlueCrest Capital Management.
Proceeds will be used to continue preclinical development across Engitix’s ECM-targeted pipeline in solid tumours and fibrosis, and to expand and apply Engitix’s platform built on one of the largest proprietary ECM datasets in these diseases.
The firm leverages deep, high-resolution ECM data to identify disease-associated signatures and translate them into therapeutics designed to act precisely within diseased tissue microenvironments.
“Closing this financing strengthens our ability to translate Engitix’s unique ECM understanding into a growing pipeline of targeted therapeutics,” said chief executive and co-founder Giuseppe Mazza. “Our platform and dataset position us to accelerate preclinical development across oncology and fibrosis programs and build differentiated, ECM-targeted therapeutics with the potential to meaningfully improve patient outcomes,” he continued.
The firm has now raised $85.4 million in three rounds of funding. It last raised $54 million, again in Series A funding, in January 2020, led by Milan’s Dompe and again from Netherton Investments.
