A University of Nottingham spin-out that is developing a new treatment for patients with cardiovascular disease, has raised £7.5m in funding.
IsomAb Ltd, founded in 2022, is a UK-based biopharmaceutical company and a spin-out from the University of Nottingham. The company was founded by Professor David Bates from the Centre for Cancer Sciences at the University of Nottingham and Professor Steve Harper from the University of Bristol.
The company is developing specific disease modifying antibody treatments for serious and life-threatening diseases with an initial focus on peripheral arterial disease (PAD), a common condition where a build-up of fatty deposits in the arteries restricts blood supply to leg muscles.
In many cases, the body successfully compensates by developing new blood vessels in a process known as angiogenesis. However, this process of compensation does not seem to occur in diabetics, and the lack of circulation often causes ulcers and irreversible tissue damage.
Research by IsomAb's founders, Professor Bates and Professor Harper, suggests that this is because a protein called VEGF-A165b blocks the angiogenesis process in diabetics. The IsomAb team have developed an antibody that inhibits the effects of the protein and allows new blood vessels to be created.
This latest Seed funding round will enable the company to advance the pre-clinical development of its lead antibody, ISM-001.
The funding round was led by Broadview Ventures, with further backing from existing investor, SCVC and participation from MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and part of the Midlands Engine Investment Fund (MEIF).
I'm delighted that we have been able to attract further high quality investment into translating the discoveries from our laboratories to benefit patients with cardiovascular disease."
Jackie Turnbull, CEO of IsomAb, said: "IsomAb's lead program targeting VEGF-A165b aims to treat peripheral arterial disease in the large proportion of patients with concomitant metabolic syndrome and Type II diabetes. We are delighted to have attracted a group of high-quality investors to support the early development of our novel program toward CTA filing to enter the clinic."
The Midlands Engine Investment Fund is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
