By Kristy Dorsey

Macomics, a drug discovery spin-out from the University of Edinburgh, has raised a further £4.2 million in funding and announced three new senior appointments as it progresses its work in the field of tackling cancer tumours.

The deal was led by transatlantic scientific investors Epidarex Capital following initial seed funding of £3.2m from Epidarex and the Scottish Investment Bank in the middle of last year. Edinburgh-based investment fund Caribou Property has joined as a new investor in this latest round.

Co-founded in 2019 by the university’s Jeffrey Pollard and Luca Cassetta, Macomics is focused on the role of macrophages in increasing the body’s immune defence against tumours. It has R&D and office facilities in Edinburgh and Cambridge.

In addition to the fresh financing, the company has also expanded its leadership team with the appointment of Steve Myatt, the former boss of Azeria Therapeutics, as its new chief executive. Mr Myatt, who joined Macomics in February, replaces Robert Haigh.

READ MORE: New biotech start-up Macomics raises £3.2m in fight against cancer

Carola Ries, former head of the innate immunity department in cancer immunotherapy at Roche, has been appointed chief scientific officer while Mr Cassetta has left the university to join Macomics full-time as vice-president of immunology.

“Macomics has made great progress since formation, and I am excited to lead Macomics in driving forward its vision to become a leading immune-oncology company pioneering macrophage-based therapies for the treatment of cancer,” Mr Myatt said. “Our diversified portfolio of antibody programs combined with our proprietary target identification approach and world-class team uniquely positions us to deliver on this vision.”

Commenting on his move, Mr Cassetta said: “I am delighted to be joining the company full-time to exploit the potential of macrophage-based approaches to developing novel immune-oncology therapies that have the potential to change the lives of patients with cancer.”