Oxford spin out financed $6.8m for research into oncolytic therapies

Oxford spin out company, Theolytics, has raised $6.8 million in financing from Epidarex Capital and Taiho Ventures, to advance their work into viral derived cancer therapies. The closing of the recent Series A round resulted in participation from existing investor, Oxford Sciences Innovation (OSI) and new involvement from Epidarex Capital and Taiho Ventures LLC.

Theolytics is a biotechnology company founded from the University of Oxford, that harnesses the power of virus research to combat cancer. Originally launched in 2019, the company specialises in oncolytic viral therapy, developing a library of viral variants that can be used to produce new oncolytic viruses that selectively kill certain cancer cells. The in-house library at Theolytics hosts thousands of viral variants upon which researchers can draw candidates for new therapies, akin to phage display libraries used for antibody development.

The company was spun out of Len Seymour’s lab at the University of Oxford with the idea of applying external pressures to viruses to force the emergence of a variant with a set of desired characteristics, such as attacking specific cancers. Their most recent project will focus on ovarian cancer and ‘arming’ viruses with therapeutic agents for a localised, potent expression at the tumour site.

Len Seymour, Co-Founder and Professor of Gene Therapies within the Department of Oncology at the University of Oxford, says:

Bio selection represents a clever strategy to develop therapeutics that exploit scientific mechanisms that are not yet fully understood. By applying the correct selection pressure it is possible to identify oncolytic viruses that could not be designed on the basis of existing knowledge. The most exciting aspects of Theolytics approach are the huge diversity of the viral libraries they have produced using sophisticated molecular shuffling, thereby harnessing the therapeutic power of many diverse adenovirus serotypes, and the clinically relevant model systems they have developed. By combining these two strategic innovations, the Theolytics scientists have developed some truly exciting and world class therapeutic candidates.

In the long run, the company are working to transform the way in which viral therapies for cancer are discovered and developed. Read more about the technology here.