IsomAb builds towards £35m Series A after £7.5m seed round is backed by US money

20 Feb, 2024
Tony Quested
Biotech company IsomAb Ltd, whose registered office is at St John’s Innovation Centre in Cambridge, has excited investors with its antibody technology.
IsomAb co-founder and Chief Scientific Officer Dr David Bates. Courtesy – IsomAb.

The company has closed a £7.5 million financing to accelerate its lead candidate to treat peripheral arterial disease. It has further revealed to Business Weekly that it will swiftly move towards a £35m Series A in mid-2025.

The seed round was led by Broadview Ventures in Boston US with further backing from existing investor SCVC and participation from MEIF Proof of Concept & Early Stage Fund managed by Mercia Ventures.

IsomAb co-founder and Chief Scientific Officer Dr David Bates also co-founded Exonate Ltd in 2013; Exonate is a Cambridge clinical stage company developing anti-angiogenic eye drops in collaboration with Janssen. Dr Bates was Chief Scientific Officer until 2021 and is now chair of the Scientific Advisory Board.

Founded in 2022, IsomAb is developing isoform-specific disease modifying antibody treatments for serious and life-threatening diseases with an initial focus on peripheral ischaemia. The seed round enables the company to advance the pre-clinical development of its lead antibody, ISM-001.

Jackie Turnbull, CEO of IsomAb, says: “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.”

Benjamin Kreitman, Principal at Broadview Ventures, Inc. said: “Peripheral artery disease remains a significant unmet medical need worldwide and the development of novel treatments to alleviate ischemia could improve clinical care for millions of patients.

“As Broadview's investment strategy is focused on the improvement of human health in the areas of cardiovascular disease and stroke, we are delighted to accelerate this highly innovative approach to treat peripheral artery disease.”

SCVC Managing Partner, Harry Destecroix added: “We have been an investor in IsomAb since its incorporation and we are delighted to now be working with Broadview Ventures to take this technology to the clinic.

“There is enormous impact potential for patients aligning to a key area of SCVC’s mission – the advancement of human health.”

And Hannah Tapsell Chapman of Mercia Ventures commented: “IsomAb offers a fresh approach to the treatment of vascular disease. Although the initial focus will be on treating diabetics, research shows high levels of VEGF-A165b are also linked to increased risk of heart attack and stroke in non-diabetics, so it could have much wider applications.

“The funding will enable the team to progress the development of the lead compound ISM-001 towards human clinical trials.”