Oxford-based biotech company Evox Therapeutics has completed a Series C financing round, announcing that it has raised £69.2m ($95.4m) following ‘high demand’ from existing and new investors.

The Series C financing round was led by Redmile Group, which was joined by new investors OrbiMed and Invus. Evox added that all existing Series B investors reinvested, including Oxford Sciences Innovation (OSI), GV (formerly Google Ventures) and Cowen Healthcare Investments.

Pharma company Eli Lilly also converted a $10m convertible note that formed part of its collaboration agreement with Evox, announced in 2020, into equity in this latest financing round.

“We are delighted with the support received in this Series C financing from both our existing investors and our new investors. The level of interest in this financing round is testament to the progress we have made over the last few years,” said Antonin de Fougerolles, chief executive officer of Evox.

“Since our Series B round in 2018, we have continued to develop our DeliverEX platform, advance our pipeline of exosome therapeutics, expand our intellectual property portfolio, build our R&D capabilities and bolster our management team. We have also signed significant partnership deals with Eli Lilly and Takeda, two of the world’s leading pharma companies,” he added.

The latest financing will be used to support the advancement of Evox’s exosome-based therapeutics pipeline. This will include progressing a number of rare disease assets into the clinic.

Evox will also use the new funding for the continued development of its DeliverEX exosome drug platform.