OMass Therapeutics, a biotechnology startup developing small molecule therapeutics against highly validated target ecosystems, has raised an oversubscribed £230 million Series C financing round. The round is co-led by new investors Bain Capital Life Sciences, Forbion and Novo Holdings, with additional participation from Janus Henderson Investors, SV Health Investors and Jefferson Life Sciences, as well as existing investors Syncona, Oxford Science Enterprises, GV, Northpond Ventures, Sanofi Ventures, British Business Bank and University of Oxford. Proceeds support advancement of lead program OMS1620 through Phase 2 clinical development in congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome and generation of early clinical data for an SLC15A4 inhibitor.
OMass Therapeutics develops small molecule therapeutics using its proprietary OdyssION drug discovery platform, which combines next-generation native mass spectrometry, novel biochemistry techniques and custom chemistry to interrogate drug targets within their native ecosystems. This approach provides cell-system fidelity with cell-free precision and has been used to build a pipeline of first- and best-in-class programmes in endocrinology and immunology. Lead asset OMS1620 is a potential best-in-class MC2 receptor antagonist designed to increase receptor residency time and maintain activity in the presence of rising endogenous ACTH levels, enabling more patients with congenital adrenal hyperplasia to achieve androgen normalisation while on physiologic doses of glucocorticoids.
Funding also supports an earlier-stage pipeline that includes a potential first-in-class SLC15A4 inhibitor for lupus and other diseases associated with interferon overproduction and pathogenic B-cell activation. These programmes form part of a pipeline built entirely through internal discovery, which investors highlight as evidence of the productivity and breadth of the OdyssION platform. Investors describe meaningful potential for OMS1620 to improve treatment for patients with congenital adrenal hyperplasia and see the SLC15A4 programme as an opportunity to address substantial unmet patient needs in endocrine and immunologic diseases.
As part of the financing, OMass Therapeutics adds new representation to its governance. Evan Greif of Bain Capital Life Sciences and Audrey Cacaly of Forbion join the Board of Directors, while Max Klement of Novo Holdings and Ali Jazayeri of SV Health Investors receive Board observer seats. Management states that OMass Therapeutics enters its next phase of growth with resources to translate its pipeline into a portfolio of clinically differentiated medicines for patients.
This financing comes at an exciting point in OMass’ evolution as we advance OMS1620 into the clinic, with our SLC15A4 inhibitor poised to follow. We have demonstrated the ability of our team and approach to discover and deliver a pipeline of first- and best-in-class programs in endocrinology and immunology into the clinic. With the backing of an outstanding group of new and existing investors, we are entering our next phase of growth with the resources to translate that progress into a portfolio of clinically differentiated medicines for patients.
OMass leverages an experienced team and a clear vision for building a leading therapeutics company that translates complex biology into differentiated medicines for patients with significant unmet needs. The Company is executing against that vision by advancing OMS1620 and applying its proprietary discovery approach to build a broader pipeline across endocrinology and immunology. We see meaningful potential for OMS1620 to improve the treatment for patients with CAH and look forward to partnering with Ros and the team to support the Company’s strategic and patient-first approach.
This financing has the potential to deliver clinical data for two differentiated programs, OMS1620 and SLC15A4, providing important opportunities to demonstrate their therapeutic potential. These programs are part of a pipeline built entirely through internal discovery, underscoring the productivity and breadth of OMass’ platform and its potential to generate meaningful new medicines across endocrine and immunologic diseases. We look forward to working closely with the talented OMass team as they advance these programs.
We are pleased to join a premier investor syndicate supporting OMass as the Company advances its breakthrough programs into the clinic. Each of these candidates has the potential to address substantial unmet patient needs in their respective areas of endocrinology and immunology, and we look forward to the Company’s continuing progress.
