- Oxford Science Enterprises (OSE) joins existing investors SV Health Investors, Lilly, Sofinnova Partners, Longwood Fund and GSK
- Follows original $30 million Series A raise, and brings total raised by the Company to date in excess of $75 million
- Funds will be used to advance proprietary pipeline of immunometabolism-targeting therapies into clinical development
Oxford, UK – 27 September 2023 – Sitryx Therapeutics (“the Company”), a biopharmaceutical company focused on regulating cell metabolism to develop disease-modifying therapeutics for chronic autoimmune and inflammatory diseases, today announces the successful completion of an additional financing, raising a further $39 million (£32 million), following the $30 million Series A financing announced in October 2018. New investor Oxford Science Enterprises (OSE) has joined existing healthcare investors SV Health Investors, Eli Lilly & Company (Lilly), Sofinnova Partners, Longwood Fund and GSK.
Sitryx will use the proceeds to progress its immunometabolism-targeting therapies into clinical development. The Company is building a broad and differentiated pipeline of proprietary therapies by identifying novel targeted approaches based on how changes in metabolism modulate immune cell function.
Neil Weir, Chief Executive Officer of Sitryx, said: “Immunometabolism is at the forefront of immunology research and our proprietary chemistry, deep biological insights and the work of our world leading team of immunometabolism experts is opening new avenues for the treatment of immune-mediated diseases. Our broad pipeline of potential therapeutics that intervene in cell metabolism offers the potential to rebalance the immune system and achieve disease remission, leading to better patient outcomes.
“This additional financing further validates the potential of our science to transform the field of immunology and we are delighted to welcome Oxford Science Enterprises as a major investor in this round. They join our world-class investment syndicate, including Lilly with whom we continue to collaborate very successfully within our ongoing strategic licensing and research collaboration.”
Sanne de Jongh, Partner, Oxford Science Enterprises, who joins the Company’s Board, said: “Sitryx is truly an innovator in its field, and we are excited to welcome its team to our portfolio of companies working to address some of the world’s most pressing health challenges. With its world-class science, promising pipeline, experienced leadership, and close ties to Oxford University, Sitryx has the potential to become a global market leader. We look forward to working with its exceptional team to support the company’s next phase of growth and realise its full potential to deliver much needed disease-modifying therapeutics to treat a range of chronic autoimmune and inflammatory diseases.”
Sitryx was founded in 2018 by world-leading researchers in the field of immunology and metabolism, including Houman Ashrafian, Luke O'Neill, Jonathan Powell, Jeff Rathmell, Michael Rosenblum and Paul Peter Tak. Together they have published more than 1,000 papers in the field, making multiple key breakthroughs in our understanding of how the energetic status of immune cells is critical in regulating disease activity. In 2020, Sitryx formed an exclusive global licensing and research collaboration with Lilly, who also became an investor in the Company.
Ends
For more information about Sitryx please contact:
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Sue Stuart
+44 (0)20 3709 5700
Sitryx@consilium-comms.com
About Sitryx
Sitryx is a biopharmaceutical company focused on regulating cell metabolism to develop disease-modifying therapeutics for chronic autoimmune and inflammatory diseases. Sitryx's proprietary science is led by a highly experienced management team and supported by world class academic founders. Sitryx was founded by world-leading researchers in the field of immunology and metabolism, including Houman Ashrafian, Luke O'Neill, Jonathan Powell, Jeff Rathmell, Michael Rosenblum and Paul Peter Tak. Together they have published more than 1,000 papers in the field, making multiple key breakthroughs in our understanding of how the energetic status of immune cells is critical in regulating disease activity. Sitryx was founded in 2018 with seed funding from SV Health Investors and raised $30 million Series A funding from an international syndicate of specialist investors including SV Health Investors, Sofinnova Partners, Longwood Fund and GSK. In 2020, Sitryx formed an exclusive global licensing and research collaboration with Eli Lilly and Company. Lilly also became an investor in the Company. The Company has a pipeline of projects at multiple stages of drug discovery. Sitryx is headquartered in Oxford, UK. For more information, please visit www.sitryx.com.
