Led · Series B · Jan 2026

Mediar Therapeutics focuses on neutralizing fibrosis-driving pathways with human IgG1 antibodies that inhibit specific extracellular proteins. Its lead candidate, MTX-474, an EphrinB2 antagonist, is now in a 90-patient global Phase 2a trial (EncompaSSc) for systemic sclerosis. MTX-463, a WISP1-targeting antibody partnered with Eli Lilly, is enrolling patients in a Phase 2a study for idiopathic pulmonary fibrosis after completing Phase 1. A third program, MTX-439, a SMOC2 antagonist for chronic kidney disease-associated fibrosis, is moving toward Phase 1 in the first half of 2026. Management reports that, including the latest financing and the Lilly partnership, the company has secured approximately $175 million to date, providing runway to advance all three assets through early and mid-stage clinical trials. Mediar’s strategy combines novel targets, blood-based biomarkers, and well-characterized antibody modalities to enable a potential precision-medicine approach in fibrotic diseases.

Participated · Series A · Jun 2025

Draig Therapeutics is a clinical-stage biopharma focused on developing highly specific AMPA receptor (AMPAR) and GABAA receptor (GABAAR) modulators aimed at treating neuropsychiatric disorders. Its lead program, DT-101, is a Phase 2 AMPAR positive allosteric modulator (PAM) being evaluated in major depressive disorder in a global monotherapy study and a U.S. adjunct study. The company states DT-101 has shown encouraging safety, tolerability and target engagement with a pulsatile pharmacokinetic profile. Draig was co-founded by Cardiff University and SV Health Investors and is backed by venture investors including Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures and Schroders Capital. Following the oversubscribed $65 million Series B, the company plans to use proceeds to accelerate clinical development across its pipeline and advance additional candidates toward the clinic.

Participated · Equity · Sep 2024

F2G is a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapies to treat invasive fungal infections. The company discovered the orotomide class, which selectively targets a key enzyme in the de novo pyrimidine biosynthesis pathway. Its lead candidate, olorofim, is the first orotomide antifungal and an oral therapy with a mechanism distinct from existing antifungal classes. Olorofim has been awarded Breakthrough Therapy Designation by the FDA for multiple indications and is intended for serious invasive or rare fungal diseases where current treatments are inappropriate or ineffective. F2G plans to use the recent financing to complete late-stage development, seek regulatory approval, and prepare for U.S. commercialization of olorofim. Led by CEO Francesco Maria Lavino, the company operates in the UK, US, and Austria and has a 100%-owned subsidiary in Austria. F2G Ltd is a Manchester, UK-based clinical-stage biopharmaceutical company focused on discovery and development of novel therapies to treat potentially life‑threatening invasive fungal infections. Its lead asset is olorofim, a novel oral antifungal from a new class called the orotomides that selectively targets a key enzyme in the de novo pyrimidine biosynthesis pathway. Olorofim is in a Phase 2b open‑label study (NCT03583164) for patients with limited treatment options for invasive aspergillosis and other rare mold infections. F2G raised $70M in financing to advance late‑stage development and US commercialization of olorofim. The round was co‑led by new investors Forbion and Sofinnova Partners, with participation from existing backers including Novo Holdings, Morningside Ventures, Cowen Healthcare Investments and Advent Life Sciences. Nanna Lüneborg (Forbion) and Joe Anderson (Sofinnova Partners) will join the F2G board. In May 2022 the company entered a $480M strategic collaboration with Shionogi to develop and commercialize olorofim in Europe and Asia, which included $100M upfront, $380M in regulatory and commercialization milestones, and double‑digit royalties on sales. F2G operates in the UK, US and Austria and is led by CEO Francesco Maria Lavino. F2G discovers and develops antifungal therapies, including a new class of agents called the orotomides that target DHODH (dihydroorotate dehydrogenase). Its lead candidate, olorofim, is a novel antifungal in a Phase 2b open-label study focused on rare and resistant invasive fungal infections. Olorofim has been granted Breakthrough Therapy designation by the FDA (November 2019), the only antifungal to receive that status based on early tolerability and efficacy data. The company is advancing late-stage clinical programs and preparing for commercialisation. Proceeds from the recent financing will fund those clinical programs and organisational scale-up. Ian Nicholson is CEO of the company. F2G is a Manchester-based biotech focused on discovering and developing antifungal drugs. It is advancing F901318, a novel clinical-stage candidate for the treatment of invasive aspergillosis and other serious rare mould infections. The company planned a small PK Phase 2 clinical trial for F901318 in the second half of 2016 and aimed to begin pivotal registration trials for invasive aspergillosis in the first half of 2017 via an accelerated regulatory pathway. F2G raised $60M in financing led by Sectoral Asset Management to support development of its pipeline. Investors in the round include Novo A/S, Aisling Capital, Brace Pharma Capital and existing backers Advent Life Sciences LLP, Novartis Venture Fund, Sunstone Capital and Merifin Capital. Dr Maha Katabi and Dr Martin Edwards are joining the board as part of the financing, and Ian Nicholson serves as CEO.

Led · Series B · May 2024

Grey Wolf Therapeutics is an Oxford, UK-based clinical-stage biotechnology company using an antigen modulation platform to discover and develop therapies. Its lead clinical candidate, GRWD5769, is a potent and selective oral ERAP1 inhibitor designed to elicit a differentiated immune response against tumours. A second ERAP1 inhibitor, GRWD0715, is in preclinical development as a potential treatment for autoimmune disease, and the company is advancing an ERAP2 drug discovery program. Grey Wolf is also exploring therapeutic targeting of ERAP1-inhibitor–generated cancer antigens with MHC Class I directed therapies, including soluble T cell receptor and TCR mimic bispecifics. The company is led by CEO Peter Joyce and will use recent financing to broaden its Phase 1/2 trial across additional solid tumour types and to expand R&D into autoimmune indications. The financing increased the company’s reported total to $99M. Grey Wolf Therapeutics is an Oxford, UK-based biotechnology company developing a new immuno-oncology approach that creates novel cancer antigens by inhibiting ERAP1 or ERAP2. The company is developing a portfolio of potentially first-in-class small-molecule ERAP inhibitors. Its lead candidate, GRWD5769, is a potent and selective ERAP1 inhibitor that elicits a differentiated immune response and is entering the clinic in the first half of 2023. A second program targeting ERAP2 is advancing through discovery. The company intends to use new funding to support continued development of its immuno-oncology approaches and to advance GRWD5769 into a Phase 1/2 clinical trial. Grey Wolf is led by CEO Peter Joyce, Ph.D. Grey Wolf Therapeutics is a UK‑based drug discovery biotech focused on immuno‑oncology, developing small‑molecule modulators of endoplasmic reticulum aminopeptidases (ERAP1 and ERAP2) to change the neoantigen repertoire and increase tumour visibility. Its lead program targets ERAP1 with the aim of broadening the effectiveness of approved immunotherapies without the complex personalization required for approaches such as neoantigen vaccines. The company works with the University of Oxford, University of Southampton and has a strategic partnership with Sygnature Discovery, which is also an investor. Grey Wolf was co‑founded by Peter Joyce and Tom McCarthy and comprises a team experienced in immuno‑oncology, antigen presentation and drug discovery. It completed a £10 million ($14 million) Series A financing to fund development of its immuno‑oncology programs. Management says the financing will support existing collaborations and the development of a clinical candidate against ERAP1 in the coming two to three years.

Participated · Equity · Dec 2023

Visma is a Norwegian cloud software company and Europe’s largest privately-owned software business providing cloud accounting and ERP solutions for small and medium-sized businesses. Its core products are cloud accounting and ERP tools, and the company has expanded through acquisitions such as Legis 365 maker iVISION in November and tax compliance firm Quaderno in September. Visma reported annualised repeatable revenue (ARR) of €2.2 billion at the end of Q3 2023, a 17% increase year‑on‑year, and has achieved 17 consecutive years of revenue and EBITDA growth. The recent transactions broaden the shareholder base and provide substantial capital from both new international investors and continued support from long‑term backers such as Hg. Management and investors described the deal as a vote of confidence that positions Visma to continue its growth trajectory and invest in product innovation. Visma is a Norwegian business-software group that offers accounting, payroll, HR and other business applications to more than one million SME customers across the Nordic, Benelux and Baltic regions. The company has recorded uninterrupted year-over-year growth for the past 20 years. Visma recently completed a secondary share sale that values the business at €16 billion. The new investors will be used to further propel Visma’s expansion across Europe. CEO Merete Hverven attributes the company’s position to its employees’ entrepreneurial mindset and a supportive, knowledgeable investor base. Hg will remain the majority owner following the transaction.