Pfizer Ventures co-leads £40m funding in Grey Wolf Therapeutics
The corporate venture capital arm of Covid-19 vaccine maker Pfizer has co-led a $49m (£39.6m) investment into Oxford-based biotech startup Grey Wolf, which develops immuno-oncology therapeutic technology.
Founded in 2017, Grey Wolf Therapeutics specialises in combating tumours with its novel anti-cancer treatment. The company is looking to launch medical trials on human patients soon.
“This syndicate of leading life science industry investors brings a wealth of relevant expertise and resources to Grey Wolf at a critical time in our evolution as we prepare to enter the clinic,” said Peter Joyce, chief executive officer of Grey Wolf Therapeutics.
Joyce said the funding will “support our efforts to demonstrate clinical proof-of-concept for ERAP inhibition with our lead program, but it will also drive our continued scientific exploration in this area as we aim to further advance and broaden our pipeline of first-of-their-kind therapeutics”.
Pfizer Ventures was joined in the investment by Earlybird Venture Capital as a co-lead investor. Other participants in the round included Oxford Science Enterprises and British Patient Capital.
“The scientific ground being pursued by the Grey Wolf team is fertile with potential solutions for overcoming two of the most significant resistance mechanisms limiting current immune-oncology therapies – poor tumour visibility and T cell exhaustion,” said Marie-Claire Peakman, principal with Pfizer Ventures.
“We look forward to supporting the company as it enters the clinical setting and works to develop an actionable and completely novel therapeutic approach.”
Pfizer has previously backed the UK-based health tech startup Entia, which raised $12m (£9.6m) in October 2021.