Oxford's Alethiomics raises £67M Series A to target blood cancers
What's the deal? AlethiomicsDealroom has a profile for this one. Try Dealroom →, an Oxford University spin-out developing therapies for myeloproliferative neoplasms (MPNs), has raised an oversubscribed $90 million (£67 million) Series A. The round was co-led by new investors Sofinnova Partners and RA Capital, alongside founding investor Oxford Science EnterprisesDealroom has a profile for this one. Try Dealroom →, with support from Cancer Research Horizons and the University of Oxford.
What's the endgame? The proceeds will take the company clinical. Capital is earmarked for lead programme ATX-011 — a first-in-class therapy for essential thrombocythaemia (ET) — through Phase 1/2a studies, while advancing other MPN programmes toward IND submission.
What does it do? MPNs are blood cancers marked by uncontrolled blood-cell production and raised risk of thrombosis, bone marrow scarring, and leukaemia. ATX-011 targets G6B to clear platelets selectively, an approach designed to work irrespective of driver mutation. Preclinical data has been selected for oral presentation at the American Society of Hematology 2026 Annual Meeting.
Why it matters: Current ET treatments are decades-old, non-targeted drugs that can damage healthy cells. "By targeting the cells that drive the disease, its approach has the potential to move patients beyond symptom management toward true disease modification," said Graziano Seghezzi, managing partner at Sofinnova Partners. He and RA Capital's Maxwell DeNies join Alethiomics' board.
What could go wrong? The company is still preclinical. Its data has yet to demonstrate clinical benefit, and ATX-011's distinct biology must still translate into a safe, effective treatment in trials.
The signal: At £67 million, the raise ranks among the largest UK health Series A rounds on record — above the 96th percentile across 595 comparable deals. It lands as the broader MPN field moves into the clinic: Damora TherapeuticsDealroom has a profile for this one. Try Dealroom → began a Phase 1/1b trial in ET and myelofibrosis in 2026, and Atavistik Bio recently closed a $120 million Series B that includes MPN work.
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