OMass Therapeutics Announces Appointment of New Board Chair and Series B Extension
Summary
None Jim Geraghty joins as Independent Director and Chair, bringing US and international experience from Genzyme and as NED and chair of multiple listed biotechs None British Patient Capital invests \xa310 million in a Series B extension bringing total raised in this round to \xa385.5 millionOxford, United Kingdom 15 May 2023 OMass Therapeutics (OMass, or the Company), a biotechnology company that identifies medicines against highly validated target ecosystems, today announces the appointment of Jim Geraghty as chairman of its board of directors and an additional investment of \xa310 million from new investor British Patient Capital (BPC) in a Series B extension, bringing the total raised in this round to \xa385.5 million.BPC, a wholly owned commercial subsidiary of British Business Bank plc, the UK governments economic development bank joins Syncona, Oxford Science Enterprises, GV, Northpond Ventures and Sanofi Ventures in the round. It will be used to support OMass as it continues to progress its pipeline of small molecule therapeutics for rare diseases and immunological conditions targeting solute carriers, complex-bound proteins and GPCRs.Alongside its move to new purpose-built 16,000ft2 flagship site on ARC Oxford campus enabling the co-location of its 55-strong and growing workforce, the additional funds will further support OMass as it becomes a clinical stage company, in line with its strategy outlined at the time of itsCatherine Lewis La Torre, CEO, British Patient Capital said: The UK continues to demonstrate its strength in life sciences with university spinouts like OMass leading the way. We are delighted to be part of this latest funding round which will allow OMass to continue to build a strong pipeline of drugs with the potential to meaningfully improve patient outcomes.James (Jim) Geraghty also joins the board of directors to take on the role of independent Chair from Edward Hodgkin Ph.D., who has served as Chairman for nearly five years. I am also pleased to welcome the additional investment and support of British Patient Capital and the confidence this shows in our ambitious growth plans.OMass Therapeutics is a biotechnology company discovering medicines against highly- validated target ecosystems, such as membrane proteins or intracellular complexes. OMass is advancing a pipeline of small molecule therapeutics in rare diseases and immunological conditions, that target solute carriers, complex-bound proteins, and GPCRs.Headquartered in Oxford, UK, OMass has raised over $160M (\xa3129M) from a top-tier international investor syndicate, including Syncona, Oxford Science Enterprises, GV, Northpond Ventures, Sanofi Ventures and British Patient Capital.To learn more, please visit www.omass.com.