Mercia invests further in Oxford Genetics – Insider Media

Warwickshire-based investor Mercia Technologies has injected 2m into a business that produces virus and protein-based biologics for therapeutic companies.

The direct follow-on investment into Oxford Genetics brings Mercia's equity stake in the business to 40.5 per cent.

The 2m from Mercia formed part of a 7.5m funding round, which included Invesco Asset Management.

Proceeds will be used to bolster Oxford Genetics' operation in the US with the opening of a new office in Boston. The company will also expand its research and development facility in the UK.

Chief executive Ryan Cawood said: "The next few years for Oxford Genetics will be exciting. The industry for complex biologics has taken such huge steps forward to delivering real patient benefit and we are pleased to be providing our technology to many of the companies tackling some of medicine's most important unmet needs."

Mercia has worked with Oxford Genetics since 2012 and has ploughed a total of 4.7m into its development.

Mark Payton, chief executive of Mercia and board director of Oxford Genetics, added: "This sector is growing rapidly, driven by pharma and biotech companies' relentless drive for new therapeutics.

"The commercial validity of the business has been recently supported by a string of technology licence agreements. This syndicated investment alongside Invesco reflects our confidence in Oxford Genetics' strong position and its ability to deliver shareholder value in the medium term."

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Mercia invests further in Oxford Genetics - Insider Media