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British Patient Capital invests in Epsilogen through Future Fund: Breakthrough

Press release 02 March 2022

British Patient Capital has invested in Epsilogen, a London-based developer of novel therapeutic antibodies to treat cancer, as part of a £30.75 million Series B funding round.

The investment has been made via Future Fund: Breakthrough, our £375 million programme where we co-invest with private sector investors in innovative, R&D-intensive UK companies.

Based at the London BioScience Innovation Centre, Epsilogen is working with immunoglobulin E (IgE) antibodies to develop new therapeutic treatments for solid tumours. Its first product is focused on platinum-resistant ovarian cancer, an aggressive cancer that has high unmet patient needs. The company is the first in the world to dose humans with an IgE therapeutic. This funding round will enable Epsilogen to continue its clinical work and explore the product’s potential.

We are pleased to be investing in Epsilogen, which is a highly innovative company seeking to create therapies for hard-to-treat solid tumours. This the second life sciences investment from Future Fund: Breakthrough, which aims to improve access to later stage equity finance for R&D-intensive UK companies with cutting edge technologies. - Judith Hartley CEO, British Patient Capital

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Notes to editors

About British Patient Capital

British Patient Capital is the trading name of British Patient Capital Limited, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s plc’s commercial arm.

Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large scale businesses. Launched in June 2018, British Patient Capital has £2.5bn to invest over 10 years in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more at British Patient Capital.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.

This investment from British Patient Capital does not amount to any endorsement or warranty from British Patient Capital, the British Business Bank plc, or the government of the UK.

About Epsilogen

Epsilogen is a global leader in the development of immunoglobulin E (IgE) antibodies to treat cancer. IgE’s natural function is to provide immunological defense against certain parasites. This functionality makes it an ideal treatment of solid tumours due to its strong potency, enhanced tumour access and long tissue half-life.

Epsilogen’s lead product candidate, MOv18 IgE, is the first therapeutic IgE antibody to enter the clinic and encouraging data from a phase I trial demonstrated MOv18 IgE to be safe and well tolerated with early signs of clinical activity also seen. The company is also developing a proprietary IGEGTM antibody platform combining elements from both IgE and IgG antibodies into novel and proprietary antibody molecules with enhanced functionality.

Epsilogen began operations in 2017 as a spin out of King’s College London utilising the world class IgE expertise of Professor Sophia Karagiannis. Initial capital was provided by founding investor Epidarex Capital.

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