Early stage biotechnology company targeting ophthalmology and potentially pain and cancer
Funding to develop treatment for wet age-related macular degeneration (wet AMD)
Cambridge, UK, Monday 5th October 2015 – Exonate, an early stage biotechnology company, today announced they have successfully closed their latest funding round including investment from the Angel CoFund. This brings the total amount raised by Exonate to just under £800,000 to date. The investment will be used to fund development of Exonate’s first therapeutic area of interest – an eye drop for the treatment of wet age-related macular degeneration as a potential alternative to the current treatment by eye injections.
Exonate has an experienced international management team, with a wealth of clinical and start-up experience. The team is led by Dr Catherine Beech, Chief Executive Officer, who spoke of her excitement at closing this funding round: “I am very pleased to announce that we have successfully closed this round of funding. Exonate’s clinical data is proving to be very powerful and we have a clear aspiration to successfully deliver medicines in areas of unmet need. The funding will enable us to grow our data package in the hope that our molecules, as easily administered eye drops, will change the lives of patients with wet Age-Related macular degeneration, and potentially other areas such as cancer, in the future.”
Tim Mills, Investment Director, Angel CoFund commented: “We are really pleased to be backing Catherine and the exceptional team she has built up with Exonate. The funding round will play an important role in helping them develop a vastly improved treatment for age-related macular degeneration (a leading cause of loss of vision) and improve the quality of life of sufferers. The Angel CoFund looks to support high-growth teams who are creating solutions with the potential to change industries, and Exonate are certainly an exciting company to watch in this space.”
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