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Seattle biotech company Oisín Biotechnologies announced the first close of a $15 million Series A financing round on July 24, 2024, with AbbVie Ventures leading the close. The company said it would use the financing to move preclinical programs—including efforts to eliminate unwanted fat cells and build muscle mass—toward clinical development. The announcement confirms a first close, not that the full $15 million was ultimately raised.
What Oisín announced about the financing
Oisín described the financing as the first close of a $15 million Series A round. AbbVie Ventures led that close. The company said an AbbVie Ventures representative would join its board and scientific advisory board; Oisín’s current team page lists Claire Leurent, managing director at AbbVie Ventures, on its board. Oisín’s July 24, 2024 announcement Oisín team page
CEO Matthew Scholz said the first close would help advance the company’s pipeline toward clinical trials. The announcement does not establish the round’s final total, so the $15 million figure is the announced size of the round rather than a confirmed amount fully raised.
What therapies is Oisín developing?
Oisín says its programs use its Fusogenix Proteo-Lipid Vehicle (PLV), which it describes as a non-viral delivery technology for DNA and RNA payloads. The company’s pipeline descriptions include several areas of age-related biology:
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These are company-described research programs, not evidence that a therapy is approved, proven effective, or available to patients. The financing announcement characterized the programs as preclinical. Oisín platform and pipeline 2024 financing announcement
Are Oisín’s therapies in clinical trials?
The July 2024 financing announcement said the programs were preclinical and that the funding would help move them toward clinical development. Oisín’s current pipeline page describes the programs but does not provide a specific clinical phase or trial identifier. The sources available here therefore do not establish that any program has entered human trials or confirm its current trial status.
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Company background and earlier funding
GeekWire reported that Oisín was founded by CEO Matthew Scholz, chief science officer John Lewis, and chairman Gary Hudson. It also reported that OncoSenX spun out of Oisín in 2018 to study solid tumors. The financing announcement identifies Entos Pharmaceuticals as the developer of the PLV delivery system used by Oisín. GeekWire report Oisín financing announcement
In May 2021, Oisín announced a $5 million seed round led by Althea Group and said its total funding at that time was $9.5 million. The company said the proceeds would advance a preclinical pipeline that included a candidate aimed at chronic kidney disease. Those are historical figures and do not establish Oisín’s current cumulative funding. Oisín’s 2021 seed announcement
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