Medannex Ltd. has been awarded grant funding to develop a therapy targeting pediatric osteosarcoma. The company received an Innovate UK award to support a project with a total budget of £313,000 (US$403,000). Innovate UK will fund £231,000 (US$297,000) of the project costs. The remainder of the project budget will be financed by Medannex. The grant will support the company’s development activities toward the new pediatric osteosarcoma treatment. Medannex is developing anticancer therapies, with lead candidate MDX-124. The company generated non-clinical data on MDX-124 that was presented at a Nature Reviews Cancer conference and at the AACR annual meeting. That preclinical progress supported completion of the final tranche of its Series B financing. The Series B totals £11 million and was led by Boston-based Morningside Ventures; the first tranche was received in July 2019. Medannex says the completion of the investment is testimony to the company’s progress since 2019. The company is focused on preparations for a First‑in‑Human study in 2021.

Total raised

$15M

Funding rounds

2

Latest round

Grant

Latest activity

Oct 2024