Nodus Oncology has raised £2.4m from new investor KHAN Technology Transfer Fund I and existing investor Cumulus Oncology.
Founded in September 2022, following the acquisition of Basilea Pharmaceutica’s PARG (poly ADP-ribose glycohydrolase) programme, the Edinburgh-based start-up focuses on the development of inhibitors against novel 'third-wave' DDR targets, a set of proteins that have recently been discovered and are thought to play important roles in the response to DNA damage.
With this new funding, Nodus should be able to accelerate the development of its programme in collaboration with the Lead Discovery Centre (LDC), continue the development of novel DDR targets and further expand its portfolio.
Chief executive Ian Waddell said: “Nodus is focused on developing the next wave of cancer therapeutics in the DDR space, bringing new and effective treatment options to patients.
“This funding will allow us to continue to accelerate our development programmes, including our PARG program, and allow us to expand our innovative portfolio."
Bert Klebl, managing director at KHAN-I, commented: “This collaboration illustrates the value-creation opportunity presented by combining Cumulus’ business model, the drug discovery capabilities of the LDC in Dortmund, and the resources of the KHAN-I fund.”
Klebl and Michael Krebs will be joining Nodus’ board of directors as investor representative and observer, respectively.
Founded by Cumulus Oncology, which contributes capital and oncology discovery and development expertise to the creation of new biotech companies, Nodus has received seed investment from both Cumulus and additional investors.
In November, Nodus Oncology appointed Julia Brown as chair of its board and Dr Keith Blundy as non-executive director.
Brown has had a long career in life sciences and supporting early-stage companies. Most recently, she was chair of the UK Knowledge Transfer Network, KTN and former non-executive director of Cumulus Oncology.
Blundy is a former chief executive with experience in molecular biology research, drug discovery and licensing, as well as venture capital fund raising. He joined STORM Therapeutics as chief executive in January 2017 and left in March 2022, and was also the boss of Cancer Research Technology, the commercial arm of Cancer Research UK.
They follow the establishment of a scientific advisory board the previous month, which includes Dominic James, the vice president of translational science at Imagen Therapeutics, and Marcel Van vugt, professor of molecular oncology at the University of Groningen.
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