Virokine Therapeutics completes a £290,000 investment as part of a £500,000 SEIS/EIS round.
Virokine Therapeutics Limited (VTL), the developer of a new class of immunotherapeutics from viruses to treat infections, autoimmune diseases and cancer, has raised £290,000 from its founding team and a US family office. The family office has had a long association with VTL’s founder who is a Scientific Advisor to a virus research foundation run by the office.
The funds raised in this round will be used to pay for operating costs at VTL’s laboratory in the London BioScience Innovation Centre (LBIC) and expanding its patent portfolio. VTL’s DNA technology platform and its first products are currently undergoing preclinical trials in USA under an award from the US National Institutes of Health (NIH) with VTL owning the arising IP.
The round remains open for a further £210,000 with SEIS/EIS status confirmed by HMRC. VTL plans to present at Biotech Showcase in USA in early 2020 where it will initiate the next round of funding during the JP Morgan annual healthcare conference.