Engitix Limited, a United Kingdom-based biopharmaceutical firm whose supporters included Michael Platt – a billionaire hedge fund manager, has accumulated USD 54 million in private funding to enhance growth and progression.
The Series A financing round was jointly led by prevalent supporter Netherton Investments, a fund assigning on behalf of Platt, and new-fangled investor Dompe Farmaceutici SpA, as per a statement attained by Bloomberg News.
Commanded by Co-Founder and Chief Executive Officer Giuseppe Mazza, Engitix is brainstorming to utilize the monetary aid to further enhance its internal drug discovery pipeline and extend its team, operations, and facilities, it stated.
Meticulously held Engitix and Italy-based Dompe have settled to partner up with novel treatments for liver-associated and fibrosis tumours. The UK based firm will also strive to establish collaborations with other biotech and pharma companies.
It already has special licensing prearrangement with Japanese drugmaker Takeda Pharmaceutical Company in the non-alcoholic liver and steatohepatitis fibrosis worth over USD 500 million, and priorly collaborated with American based Morphic Therapeutic on inflammatory bowel ailments.
Platt stated that having invested from the beginning, Engitix’s progression and accomplishments within less than 2 years from its seed funding have been inspiring. The collaboration with Dompe thrusts it to the next phase.
Michael Platt is the CEO of BlueCrest Capital Management and possesses an appraised net worth of close to USD 13 billion after his fortune expanded in 2021, as per a Bloomberg Billionaires Index. HE has merged the Engitix board alongside Gianluca Rossetti, Dompe Farmaceutici SpA’s corporate business development director, as per the statement.
About Engitix Limited
Engitix was established in 2016 to commercialize trailblazing ECM research at the Institute for Liver and Digestive Health, Division of Medicine, University College London (UCL) and is presently a maturing biotechnology firm with more than 30 employees.
The firm’s vision is to fabricate a healthier future for patients with life-threatening ailments such as cancer and fibrosis.
