The investment is aimed at accelerating the development of treatments for intracellular targets. Credit: Gorodenkoff/Shutterstock.

Synthetic biology company NanoSyrinx has announced the closure of a £10m ($13m) financing round aimed at advancing its technology for targeted intracellular delivery of biologic therapeutics.

The investment is aimed at accelerating the development of treatments for intracellular targets that have previously been considered “undruggable”.

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The funding round was jointly led by BGF, Octopus Ventures and M Ventures, with additional support from existing investors IQ Capital and Meltwind.

Eli Lilly and Company also participated in the financing round.

The capital injection will enhance NanoSyrinx’s technology platform, which leverages naturally occurring nanosyringes to selectively deliver peptides and protein payloads, including gene editors and enzymes, directly into targeted cells.

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NanoSyrinx has also appointed Dr Edwin Moses as the new chairman of the board of directors.

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Dr Moses, succeeding Stephen Taylor, has more than three decades of board-level experience in the life sciences sector.

NanoSyrinx CEO Dr Joe Healey stated: “Edwin has significant experience as a successful CEO and chairman, with extensive involvement in biotech fundraising, strategic commercial partnerships and successful exits.

“We are thrilled to have him joining as chair of our board as we drive forward with our ambitious plans. He joins us at a pivotal stage alongside this financing, which places us in a well-capitalised position to further develop our intracellular drug delivery technology to realise its full potential in developing medicines.”

In July 2021, the company secured £6.2m in seed funding, with the round co-led by new investor Octopus Ventures and existing investor M Ventures.

Previous backers BioCity and the UK Innovation & Science Seed Fund also participated, along with deep tech investor IQ Capital and Jonathan Milner.