BioCity Nottingham’s IsomAb, a University of Nottingham spin-out pioneering a new treatment for diabetics at risk of amputation, has raised £7.5m in a funding round led by Broadview Ventures and backed by MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia Ventures and part of the Midlands Engine Investment Fund (MEIF), Mercia’s EIS funds and existing investor SCVC.
The funding will enable IsomAb to carry out further studies in preparation for the start of clinical trials.
The company focuses on treating peripheral arterial disease (PAD), a relatively common condition where the arteries in the legs and feet become blocked by fatty deposits, resulting in a lack of blood flow.
In many cases, the body successfully compensates by developing new blood vessels in a process known as angiogenesis. However, this process of compensation does not seem to occur in diabetics, and the lack of circulation often causes ulcers and irreversible tissue damage.
Research by IsomAb’s founders, Professor David Bates and Professor Steve Harper, suggests that this is because a protein called VEGF-A165b blocks the angiogenesis process in diabetics. The IsomAb team have developed an antibody that inhibits the effects of the protein and allows new blood vessels to be created.
Founded in 2022, IsomAb is the second spin-out by the pair. Their previous venture, Exonate Ltd, focused on treating diabetic macular oedema and completed its first clinical trial.
Jackie Turnbull, CEO of IsomAb: “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.”
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