UK immuno-oncology company Macomics has raised £4.24m in follow-on financing from its 2020 seed round as it aims to accelerate the development of its macrophage-based therapeutics portfolio.

The company was co-founded in 2019 by Jeffrey Pollard and Luca Cassetta of the University of Edinburgh and is progressing a portfolio of therapies targeting disease specific tumour associated macrophages (TAMs) to the clinic.

Its target discovery platform also enables the identification and validation of novel macrophage therapeutic targets, based on a ‘deep understanding of macrophage biology’.

The new investment and planned Series A financing will enable Macomics to accelerate progress if its antibody programmes toward the clinics while also expanding its portfolio and further investing in its target discovery technology.

“Macomics has made great progress since formation, and I am excited to lead Macomics in driving forward its vision to become a leading immuno-oncology company pioneering macrophage-based therapies for the treatment of cancer,” said Steve Myatt, chief executive officer of Macomics.

“Our diversified portfolio of antibody programs combined with our proprietary target identification approach and world-class team uniquely positions us to deliver on this vision,” he added.

The company also announced that it has expanded its research and development (R&D) and office facilities on the Cambridge Science Park and has secured additional laboratory and cell culture space within Edinburgh University. It will also be expanding its scientific team to support the company’s accelerated R&D.