Evox Therapeutics, one of Milltrust’s portfolio companies through British Innovation Fund’s investment in Oxford Sciences Innovation, has announced a landmark $1.2bn partnership with Eli Lilly. This agreement allows for the leverage of Evox’s proprietary DeliverEX platform to explore the delivery of oligonucleotide drug payloads in the potential treatment of neurological disorders, and provides strong scientific validation by a major pharmaceutical player of OSI’s two investments in Evox over the last four years.
This announcement follows the significant $882m rare-disease focussed partnership struck with Takeda Pharmaceutical Company in March this year.
OSI currently holds a 38.5% fully diluted shareholding in Evox. The 30 March OSI portfolio valuation for Evox included an estimated valuation uplift of £30m for 100% of Evox as a result of the Takeda partnership.