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OxStem, an Oxford spin-out founded by Prof. Steve Davies, Prof. Angela Russell and DPAG's Prof. Dame Kay Davies, has raised a record £16.9M to develop small molecule drug candidates to treat age-related conditions including cancer, neurodegenerative diseases and heart failure.

The company has formed strategic partnerships with Human Longevity Inc. and CEO Dr J Craig Venter together with Mr Bob Duggan and Dr. Mahkam Zanganeh (former CEO & Chairman and Chief Operating Officer respectively) of Pharmacyclics that was sold last year to Abbvie for US$21 billion. Other individual investors, together with Oxford Science Innovation, will enable OxStem to fund the development of a series of daughter companies - each with a focus on a different large unmet therapeutic need. The majority of the £16.9M is expected to be used to fund joint projects between the Department of Chemistry and other Departments across Oxford over the next three years. more