University of Cambridge Department of Pharmacology spin-out PolyProx Therapeutics has received £1m in seed capital from translation-focused medical research charity Life Arc. The funding will be provided through the charity’s £25m seed fund.

This follows the £3.4m that PolyProx raised in seed capital in April 2019. This financing round was led by both Cambridge Innovation Capital, RT Capital and Cambridge Enterprise.

All of this funding is being used to continue to develop the company’s polyproxin molecules as a new cancer treatment.

Polyproxin molecules are developed using PolyProx’s platform, which focuses on harnessing proteostasis networks to manipulate protein stability and therefore the growth of tumours.

PolyProx’s molecules can therefore leverage a cell’s natural degradation machineries to target and remove disease-causing proteins, which halts the growth of the tumour.

Initially, PolyProx wants to focus on developing polyproxin drugs against aberrant proteins and tumour types, which small molecule drugs and monoclonal antibodies have struggled to tackle to date.

As a result of this funding, Life Arc Seed fund investment principal of the fund Enrique Millan will sit on PolyProx’s board.

Register as Visitor to CPhI China 2020!

-----------------------------------------------------------------------
Editor's Note:

En-CPhI.CN is a vertical B2B online trade platform serving the pharmaceutical industry,

for any copyright disputes involved in the articles,

please email: Julia.Zhang@imsinoexpo.com to motify or remove the content.