Macrophage Pharma, a UK-based cancer treatment developer, has raised £9m ($11m) in its series A round from a consortium including Novo Seeds, the early stage investment unit of pharmaceutical firm Novo.
CRT Pioneer Fund, a specialist oncology investment fund managed by investment firm Sixth Element Capital, led the series A round, which also included venture capital firm Aglaia Biomedical Ventures.
Macrophage has used the money to acquire the global rights to a technology platform, Esterase Sensitive Motif (ESM), from Chroma Therapeutics, together with discovery-stage therapeutic assets.
Stephan Christgau, partner at Novo Seeds, said: “Macrophage Pharma represents a very compelling and differentiated approach within immune oncology.
“We are excited to be part of building this unique opportunity and to be working with an experienced team as well as two specialist investors with a strong track record in oncology.”