EDINBURGH, Scotland & CAMBRIDGE, England– Macomics Ltd, an immuno-oncology company with world-leading expertise in macrophage biology, announces today that it has closed a follow-on financing of £4.24 million from its 2020 Seed round, bringing the total amount raised to £7.44m.The additional investment brings in new investor Caribou Property Limited alongside existing investors Epidarex Capital, who led the round, and Scottish Enterprise. It will be used to accelerate the company’s growth, including expansion of the team.
Macomics is developing precision medicines to modulate macrophages for the treatment of cancer. The company was co-founded in 2019 by Prof Jeffrey Pollard and Dr Luca Cassetta, University of Edinburgh, internationally recognised leaders in macrophage biology. It is progressing a diversified portfolio of therapies targeting disease specific tumour associated macrophages (‘TAMs’) towards the clinic. Its target discovery platform enables identification and validation of novel macrophage therapeutic targets and is based on its deep understanding of macrophage biology. The new investment and planned Series A will enable the company to accelerate progress of its antibody programs towards the clinic, expand its portfolio, and further invest in its target discovery technology.
Cancer cells are known to be able to evade destruction by the immune system and TAMs are a key component of this immuno-suppressive and pro-tumoral ecosystem. Modulating TAMs will alter the tumour microenvironment enhancing the body’s ability to fight cancer. The tumour microenvironment changes macrophage behaviour, and the company is exploiting disease specific TAM biology to selectively target these immunosuppressive cells.
Alongside the financing, the company announces the expansion of its leadership team with the appointment of Dr Myatt as Chief Executive Officer and Dr Ries as Chief Scientific Officer, as well as Dr Cassetta who will join as VP Immunology on 1 August.
