Oxford biotech spin-out receives £2m funding
November 5, 2019
Oxford Drug Design Limited (ODD), a biotechnology company with a proprietary computational and machine learning platform, has raised a combined £2.2M in funding from the Angel CoFund (ACF), o2h Ventures and other new investors, and grant funding from the UK Department of Health and Social Care (DHSC)’s UK-China research competition. This brings the firm’s total amount of grant and equity funding raised in 2019 to over £9M.
This growth capital will enable ODD to further its drug research and discovery efforts, with the DHSC grant specifically funding its latest project to develop cutting-edge solutions that will tackle critical issues of anti-microbial resistance (AMR) in humans and animals.
Tim Mills, Investment Director of the Angel CoFund said: “The team at Oxford Drug Design are advancing swiftly with their programme, and winning major international funding and attracting private equity funding provide strong validation of the work they are undertaking. Antimicrobial resistance is a growing issue for the global healthcare system which only a small number of innovative companies are working to solve, so we are delighted to support ODD’s pioneering efforts.”
You can read the full article on the BQ Live website here