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Oxford BioTherapeutics secures $10m from Silicon Valley Bank

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Oxford BioTherapeutics has secured a $10m capital term loan from Silicon Valley Bank to accelerate the expansion of its research and development efforts.

OBT is an international clinical stage biotechnology company focused on developing innovative antibody based therapeutics, including antibody-drug conjugates, to treat cancer and other diseases.

OBT uses the optimal combination of technologies in ADC development through its collaborations with leading companies in the field and its novel OGAP target discovery system – one of the largest of its kind in the world – to provide a unique range of validated, novel antigen targets.

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Christian Rohlff, CEO of Oxford BioTherapeutics, said: “This additional financial support will enable Oxford BioTherapeutics to accelerate the development of our medicines.

“With a long history of supporting life science businesses, Silicon Valley Bank is a valuable partner that recognises Oxford BioTherapeutics’ ability to transform the treatment of cancer and other diseases in an innovative way.”

Nooman Haque, director of UK life sciences and healthcare for Silicon Valley Bank, added: “Silicon Valley Bank is working alongside leading UK life science businesses, like Oxford BioTherapeutics, to provide financial solutions that support this sector’s ambitions to bring innovative therapies to the market.

“This financing demonstrates Silicon Valley Bank’s unique ability to work with businesses like Oxford BioTherapeutics by complementing their equity financing to provide an efficient solution to help stimulate their growth.”

The financing will provide $10m in capital, with $5m being funded immediately. The debt will complement new equity the company is raising.

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