This UK Biotech Just Raised $300M to Target 'Undruggable' Diseases

Jan de Vries · 2026-10-16

OMass Therapeutics, a UK biotech spun out of Oxford University, just closed an oversubscribed $300 million (€275 million) Series C round. That's a lot of cash for a company most people have never heard of. But here's the thing: they're going after diseases that have stumped the industry for decades. The round was co-led by Bain Capital Life Sciences, Forbion, and Novo Holdings. Janus Henderson, SV Health Investors, and Jefferson Life Sciences also jumped in. And every single existing investor participated—Syncona, Oxford Science Enterprises, GV, Northpond Ventures, Sanofi Ventures, British Business Bank, and the University of Oxford. When everyone doubles down, it's usually a good sign. ### Why OMass Stands Out OMass isn't your typical biotech. Founded in 2016, it came out of Professor Dame Carol Robinson's lab at Oxford. The goal? Translate native mass spectrometry research into actual medicines. That might sound like a mouthful, but it's a big deal. Their secret sauce is the OdyssION platform. It combines next-gen native mass spectrometry, novel biochemistry, and custom chemistry to study drug targets in their natural environment. Think of it like studying animals in the wild instead of a zoo—you get real-world behavior with lab-level precision. "This financing comes at an exciting point in OMass' evolution as we advance OMS1620 into the clinic, with our SLC15A4 inhibitor poised to follow," says CEO Ros Deegan. "We have demonstrated the ability of our team and approach to discover and deliver a pipeline of first- and best-in-class programmes in endocrinology and immunology into the clinic." ### A Hot Streak for European Biotech OMass' round isn't happening in a vacuum. 2026 has been a banner year for European therapeutics funding. In France, Bionyra Pharma secured $155 million for inflammatory diseases. Denmark's Breye Therapeutics raised $73 million for its oral small-molecule pipeline. In the UK, STORM Therapeutics, Microbiotica, Mironid, and Alchemab Therapeutics all closed significant rounds. Add in the Netherlands' Laigo Bio, and you're looking at roughly $406 million in new financing this year—or $705 million when you include OMass. That's serious money flowing into European biotech. > "OMass leverages an experienced team and a clear vision for building a leading therapeutics company that translates complex biology into differentiated medicines for patients with significant unmet needs," says Evan Greif, Principal at Bain Capital Life Sciences. ### What's Next for OMass? The proceeds will push OMS1620, a potential best-in-class MC2 receptor antagonist, through Phase 2 trials for congenital adrenal hyperplasia (CAH) and ACTH-dependent Cushing's syndrome. These are serious conditions with limited treatment options. OMS1620 is designed to stay on the receptor longer, which could mean better results for patients. Max Klement, Partner at Novo Holdings, adds: "We are pleased to join a premier investor syndicate supporting OMass as the Company advances its breakthrough programs into the clinic. Each of these candidates has the potential to address substantial unmet patient needs." So what does this mean for the broader startup world? For one, it shows that deep tech—especially in biotech—can still attract massive rounds. Investors are hungry for science that solves real problems. And OMass, with its Oxford roots and proprietary platform, is sitting right at that intersection. If you're following the EU Inc proposal and European incorporation trends, keep an eye on how these funding rounds shape the continent's startup ecosystem. The EU Inc news might be focused on policy, but the real story is in the labs and boardrooms where deals like this get done.