UK biotechnology company ILC Therapeutics stated on Monday that it has raised a GBP3.5m from a pre- IPO funding round.

Investors in this funding round include Robert Kopple, a Los Angeles-based lawyer; Eos Angel Investment Syndicate, based in St Andrews; Scottish Enterprise; and ILCT management.

The funds may be used be used by ILC to accelerate development of its lead hybrid interferon Alfacyte, which is being developed as an inhaled medicine to treat Respiratory Viral Infections (RVIs) including SARS CoV-2. In vitro testing has demonstrated that Alfacyte has many times greater antiviral activity against SARS-CoV-2 cell culture than any other available interferon.

In addition, ILC has strengthened its board with three new appointments: Chris Brinsmead, Professor David Harrison and Robert Kopple.

Brinsmead is currently business advisor to the UK Office of Life Sciences and a non-executive director of Domino Printing Sciences plc, United Drug plc, The Wesleyan Assurance Society and Kinapse Limited. Harrison is professor of Pathology at the University of St. Andrews and a honorary consultant Histopathologist at NHS Lothian. Kopple is a member of the board of directors of MiNA Therapeutics.

(USD1=GBP0.7231734)