RCSI spin-out company raises €1.6m to expand drug delivery system

RCSI spin-out company OncoLize has closed a $1.7 million (€1.6 million) seed investment round to expand a drug delivery system to treat pancreatic and lung cancer.

The company holds a license for the OncoLize technology platform invented by Prof Helena Kelly at the School of Pharmacy and Biomolecular Sciences, RCSI University of Medicine and Health Sciences.

The round was led by corner-stone investors Libertatis Ergo and Tailored Solutions and was joined by three “high net worth impact investors”.

The OncoLize technology uses unique liquid formulations to deliver a wide range of anti-cancer drugs in a more effective manner for conventional chemotherapy drugs as well as for modern immuno-drugs.

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Injected directly into a solid tumour, the OncoLize liquid formulation thickens within seconds to form a soft gel, releasing the loaded drugs safely, at higher concentrations and over a longer period than with the conventional delivery routes of chemo- or immunotherapy.

This localised method of delivery reduces the total drug load required and it is expected to diminish the many side effects associated with conventional delivery of chemo- and immuno-therapies.

The company is using the proceeds of the investment to expand the pre-clinical studies and prepare for the first-in-human pancreatic tumour studies.

OncoLize was founded by entrepreneur Mike GW de Leeuw together with Dr Leo de Leede and Prof Helena Kelly with the support of the innovation team in the RCSI Office of Research and Innovation.

The production of the drug loaded products will initially take place at RCSI, while in vivo testing and surgical procedures will be carried out by the team of Dr Luuk Hawinkels in the Department of Gastroenterology and Hepatology at the Leiden University Medical Centre.