CE-Ventures backs UK's Oyster Therapeutics in $60 million Series A round
UK-based biotech company Oyster Therapeutics has raised $60 million in Series A funding, with participation from CE-Ventures, the corporate venture capital arm of UAE-based Crescent Enterprises. CE-Ventures' individual investment amount was not disclosed. Previously known as Kesmalea Therapeutics, Oyster is headquartered in London, UK, and develops targeted protein degradation therapies for…
UK biotech Oyster Therapeutics has secured $60 million in Series A funding led by CE-Ventures, the venture capital arm of UAE-based Crescent Enterprises. The company, initially known as Kesmalea Therapeutics, is headquartered in London and focuses on developing targeted protein degradation therapies for neurodegenerative diseases, primarily Alzheimer's disease.
The funding will support the advancement of the company's lead oral drug candidate targeting tau proteins, with the goal of clinical trials, as well as further development of its proprietary SELFTAC technology platform. This investment expands CE-Ventures' life sciences portfolio into neuroscience and targeted protein degradation.
The money will enable Oyster to accelerate its lead tau degrader towards clinical development and enhance its broader SELFTAC platform, which has the potential to create new medicines for central nervous system diseases.
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