Oxford spinout OxStem raises L16.9M

University of Oxford spinout OxStem Ltd. (Oxford, U.K.) raised L16.9 million ($24.3 million) in a venture round to develop small molecules designed to program adult stem and stem-like cells in situ to induce repair or regeneration of diseased or injured tissues. According to its website, OxStem's most advanced programs are in the lead identification and optimization stages for CNS and cardiac regeneration.

OxStem said it had received "strategic backing" from Human Longevity Inc. (San Diego, Calif.) and that company's co-founder and CEO J. Craig Venter. The start-up's other investors include Oxford Sciences Innovation plc and individuals. ...