Oxford Cancer Biomarkers announces new investment to commercialise its colorectal cancer diagnostic tests
Oxford, UK, 14 December 2015 Oxford Cancer Biomarkers Ltd (OCB), the UK-based company developing tests that allow medicines to be personalised for the benefit of the cancer patient, has today announced that it has secured new investment. Longwall Ventures co-invested with Esperante together with existing shareholders and a private investor.
OCB has developed a suite of diagnostic tests for colorectal cancer (CRC) to personalise current treatment pathways, and plans to develop similar tests for other cancer indications. The tests assess whether the patient will undergo a favourable response to CRC chemotherapy, and the likelihood that the disease will reoccur post-surgery.
Colorectal cancer is the fourth most common cancer in the UK behind breast, lung and prostate cancer. Over 40,000 new cases are diagnosed in the UK every year and over 15,000 prove fatal. This new investment will support the commercialisation of OCB’s two most advanced products ColoProg and ColoTox.
Prof David Kerr, Chief Medical Officer of OCB, commented “This is a very exciting time for OCB and the future of personalised cancer medicines. Our tests will align treatment with the most relevant disease, and be of great benefit to colorectal cancer patients.”
Prof Nick La Thangue, CEO/CSO, commented “The new investment will enable OCB to launch its two most advanced tests and become revenue-generating. This is a highly significant milestone that paves the way for OCB to leverage its scientific, medical and commercial insight to personalise treatment in other cancer indications.”
About Oxford Cancer Biomarkers
Oxford Cancer Biomarkers translates ground-breaking scientific discovery into predictive biomarker diagnostic products that allow medicines to be personalised for the benefit of the cancer patient. Oxford Cancer Biomarkers is a spin-out of the University of Oxford and has strong links with the Medical Sciences Division in Oxford University. The company was founded by Nick La Thangue, Ph.D., Chair of Cancer Biology at Oxford University and David Kerr, CBE, D.Sc., M.D. FMedSci, Professor of Cancer Medicine at Oxford University.
For more information, please visit: http://www.oxfordcancerbiomarkers.com
About Longwall Venture Partners LLP
Longwall Venture Partners LLP manages £70m of Enterprise Capital Funds from which it invests in innovative, UK based, early stage companies in the healthcare, science and engineering sectors.
Esperante is a privately held life science venture investment company focussed on therapeutics and in vitro clinical diagnostics with a portfolio of 13 therapeutics and 3 diagnostics companies principally in the UK and USA.
Oxford Cancer Biomarkers Ltd
Tel: +44 1865 784743
Nick La Thangue, CEO / David Oxlade, Chairman