# MedAnnex

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medannex

- Industry: Biotechnology
- Headquarters: Edinburgh, UK
- Website: www.medannex.org
- Total disclosed funding: $13M
- Latest round: Series B (Jul 22, 2019)
- Investors on record: 2

## About

MedAnnex Ltd. is a biotechnology company focused on developing innovative immunotherapy treatments aimed at cancer and autoimmune diseases. Its lead product, MDX-124, is designed to inhibit annexin-A1, a protein associated with tumor growth.Founded in 2009 and headquartered in Edinburgh, UK, MedAnnex Ltd. specializes in biopharmaceuticals targeting immunotherapy applications. The company has completed a total of 4 deals, with the most recent funding round being a Series B raised on July 22, 2019, amounting to GBP 10.50 million, bringing the total amount raised to GBP 10.50 million and valuing the company at GBP 27.75 million. The CEO is Ian Abercrombie.MedAnnex Ltd specializes in the development of innovative immunotherapy treatments targeting annexin-A1, a protein implicated in cancer cell growth and autoimmune diseases. Their flagship product, MDX-124, is a first-in-class monoclonal antibody designed to inhibit the action of annexin-A1, potentially reducing cancer cell proliferation and migration. Currently, this product is undergoing a Phase 1b clinical study focused on cancer patients, with plans for further clinical studies in autoimmune diseases. MedAnnex collaborates with leading clinical experts and institutions to evaluate the therapeutic and commercial potential of its proprietary technology, which serves a diverse range of patients affected by various cancers and autoimmune conditions. The geographical markets targeted by MedAnnex include the United Kingdom and potentially broader European markets, as they engage in clinical trials and partnerships with academic researchers and industry associations.Details regarding MedAnnex's revenue generation structure are not publicly disclosed. The company operates through partnerships and collaborations with clinical research organizations and healthcare institutions, facilitating transactions related to clinical trial services and product development. The revenue model may include funding from grants or partnerships with pharmaceutical companies seeking to develop or commercialize MDX-124 and other products under development. Transactions are expected to occur on a B2B basis, where MedAnnex collaborates with research entities and healthcare providers.In July 2019, MedAnnex Ltd. raised GBP 10.50 million in Series B funding co-led by new investors Morningside Private Investors and Scottish Investment Bank. The funds will support the advancement of MDX-124 and further clinical studies, particularly focusing on outcomes in cancer and autoimmune therapies. The company aims to expand its presence in European markets, engaging with new partnerships and collaborations to enhance its research capabilities and market reach.

## Funding rounds

- Series B, Jul 22, 2019, $13M — Morningside Private Investors, Scottish Investment Bank

## Investors

- Morningside Private Investors (https://capitalatlas.ai/funds/morningside-private-investors) — Series B
- Scottish Investment Bank — Series B