Oxford Finance LLC,  a specialty finance firm that provides senior debt to life sciences and healthcare services companies, announced the closing of a $10 million senior secured term loan with Oxford BioTherapeutics, an international, clinical-stage biotechnology company focused on developing antibody-based therapies to treat cancer. The funds are being used to progress the company's pipeline of novel immuno-oncology and antibody drug conjugate (ADC) programs.
 
"Oxford Finance welcomes the opportunity to work alongside leading UK life sciences companies, like Oxford BioTherapeutics, to provide capital to support ongoing research in this field and bring novel therapies to the market," said Christopher A. Herr, senior managing director at Oxford Finance. "We believe Oxford BioTherapeutics has a promising approach to identifying targets for the treatment of cancer, and we are encouraged by the progress of their current development programs for the treatment of acute myeloid leukemia and triple negative breast cancer."

Oxford BioTherapeutics' chief executive officer, Christian Rohlff, PhD, added, "Oxford Finance's debt facility will enable OBT to advance its portfolio of novel second generation immuno-oncology checkpoint inhibitors."