A company located in Oxford Science Park, which designs and develops technologies for drug and gene therapy, has successfully secured £6.5 million in a syndicated funding round.

This pushes the value of Oxford Genetics to £30.5 million.

The company is part of Mercia Technologies’ portfolio, which in this round invested £400,000. Further investment was made by Canaccord Genuity and Invesco Asset Management.

Mercia has also reduced its direct equity stake in Oxford Genetics from 40.5 per cent to 33.3 per cent.

Founder and chief executive of Oxford Genetics, Ryan Cawood, said: “This significant investment round will enable Oxford Genetics to further secure its market-leading position in expanding fields of CRISPR, gene therapy and antibody engineering.

“Through our continued investment in automation and optimising our commercialisation strategy, we aim to maximise shareholder value and exceed our ambitious growth targets.”

One such avenue of growth is in its working capital to boost research and development opportunities.

Chief executive of Mercia Technologies, Dr Mark Payton, who is also a non-executive director of Oxford Genetics, commented: “We have backed Oxford Genetics since day one, working closely with Ryan who has built an impressive team and a highly scalable business model.

“Full year revenue to April 2019 is set to achieve c.300 per cent growth on last year and the additional investment announced today will continue to facilitate this growth, as Oxford Genetics movies from an important domestic business to a global player in this specialist field of biotech.”

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