As Covid-19 continues to shape our world, we are all adjusting to the changes in our lives, communities and workforce. Given the nature of our business, we have both the resources and infrastructure to ensure continued operation without interruption and have seen a number of transactions complete in the last month. For example, the significant partnership between EvOx Therapeutics and Takeda, an £8M raise for Oxford Flow from new and existing investors and partnership with Georg Fischer, an £8M raise for BibliU, and the sales of both 6D.ai and BioBeats.
Since the beginning of the outbreak we have remained in regular contact with all our portfolio companies, supporting them with research, resources and capability to minimise the negative impact as much as possible. Inevitably, a number of companies are experiencing disruption to research and development programmes and also some delays to revenue progression. OSI is working closely with management teams on mitigation strategies, including the furloughing of employees where appropriate. Additionally, we are closely monitoring those companies where funding rounds will now be delayed.
In addition to our assessment of the negative factors related to the COVID-19 disruption, we are proud to highlight that we have several companies that are playing a part in the fight against the virus. Among these, Vaccitech and SpyBiotech are contributing to the development of potential vaccines, Osler and ONI are working on the development of testing capabilities, Mind Foundry are exploring whether their AI capabilities can help understand the spread of the virus and BibliU are facilitating remote learning for schools and universities.
OSI was founded in 2015 on the belief in the potential of Oxford’s science. Today more than ever, we continue to be inspired by Oxford and the power of scientific innovation in the face of extreme adversity.
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