Engitix Raises $54M in Series A Financing

Engitix Ltd is a UK-based biopharmaceutical firm with a proprietary human intracellular matrix (ECM), drug target discovery platform. It closed a $54m Series B financing.

Netherton Investments was the original investor and Dompe, a US-based biopharmaceutical firm, was co-lead the round. After the financing, Mike Platt (the fund manager and cofounder, Managing Director of BlueCrest Capital Management) and Gianluca Rosetti (Corporate Business Development Director at Dompe), joined Engitix’s Board of Directors.

Engitix will use the financing to expand its internal drug discovery pipeline via IND-enabling studies, to expand its ECM discovery platform, bioinformatics capabilities in new therapeutic areas, as well as to expand its facilities, team, and operations.

Engitix’s CEO and co-founder, Dr. Giuseppe Mazza are leading the development of a range of drug discovery programs for solid tumors and fibrosis. Its pioneering human extracellular matrix platform (ECM), is being led by Mazza. In 2016, the company was established to commercialize cutting-edge research from the Institute for Liver and Digestive Health (Division of Medicine), University College London (UCL). The company’s headquarters are in Westworks White City Place, London.

Engitix announced a strategic partnership with Dompe farmaceutici S.P.A. a biopharmaceutical firm with next-generation bioinformatic and chemo-tools and an AI-driven platform for drug discovery that delivers precision-engineered medicines. This deal also includes a multi-program strategic R&D partnership to help identify new treatments for fibrosis, liver-associated solid tumors, and other diseases. Engitix has developed a portfolio in primary sclerosing Cholangitis (PSC), liver metastasis (PDAC), and adenocarcinoma. It also offers partnered drug discovery programs in fibrosis using its ECM platform. Dompe will have direct access to resources, expertise, and facilities including the Escalate structure-based platform for drug design that leverages the capabilities and the Italian supercomputer center CINECA to speed up its drug discovery and development. Engitix retains complete control of its assets and programs, allowing it to transform from a technology platform into a biopharmaceutical products company. Dompe is an important shareholder and entitled to clinical and commercial milestones as well as royalties for marketed products created under the collaboration.

Engitix will also be expanding its biotech and pharma partnerships, in addition to its internal pipeline. Takeda has an exclusive license agreement for non-alcoholic steatohepatitis (NASH), liver fibrosis, and more than $500m in biodollars. It also had a partnership with Morphic Therapeutics to treat inflammatory bowel diseases (IBD).

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