UK-based therapeutics developer Evox Therapeutics has secured $45.4m in a series B financing round to support new drug development.

The latest funding round follows the company’s series A round, which raised £10m.

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The series B round was led by Redmill Group, but also included GV (formerly Google Ventures), Cowen Healthcare Investments, Panacea Healthcare Venture, Borealis Ventures, Oxford Sciences Innovation and Oxford University. In addition, certain private investors also contributed.

Evox Therapeutics plans to use the funds to develop its exosome-based therapeutics pipeline.

The activities are set to include advancing multiple rare disease assets into clinic development. The company will also support further development of its exosome drug platform.

Evox Therapeutics CEO Antonin de Fougerolles said: “Over the past several years we have continued to expand the reach of our exosome platform, translating that knowledge into impactful therapeutics for our internal pipeline and for partners.

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“Over the past several years we have continued to expand the reach of our exosome platform, translating that knowledge into impactful therapeutics for our internal pipeline.”

“We have also vigorously expanded our robust intellectual property portfolio, built our internal R&D teams, and put in place advisory boards who are offering deep insights as we advance key programmes towards clinical development.”

The company is focused on exosomes engineering to formulate a range of drugs that are deliverable to difficult-to-reach regions in the body, including passage through blood brain barrier into the central nervous system.

Evox Therapeutics said that its exosome technology significantly improves and facilitates delivery of various therapeutic molecules such as antibodies, nucleic acids, proteins and small molecules.

Currently, the company is formulating exosome-based drugs for rare, life-threatening diseases with significant unmet need.

The company is also working on forming alliances with pharmaceutical companies to explore the use of exosome-based medicines in treating a variety of other diseases.