Billionaire hedge fund chief Michael Platt backs UK biotech company Engitix

Engitix Secures $25 Million Investment to Advance Cancer and Fibrosis Research

British biotech firm Engitix Ltd. has received an additional $25 million in funding from billionaire Michael Platt, aimed at accelerating the development of its treatments for cancer and fibrosis.

The newly acquired capital will be directed toward preclinical research for Engitix’s portfolio of therapies targeting solid tumors and fibrotic diseases. The company also intends to enhance its proprietary platform, which focuses on the extracellular matrix (ECM)—the structural network that surrounds and supports cells within the body.

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Michael Platt, who co-founded and leads BlueCrest Capital Management, is making this investment through Netherton Investments Ltd. This funding marks an extension of Engitix’s Series A round, which previously raised $54 million in 2022 from backers such as Netherton and Dompe Farmaceutici SpA.

“Securing this investment further empowers us to leverage our deep understanding of the ECM and expand our pipeline of targeted therapies,” commented Giuseppe Mazza, Engitix’s CEO and co-founder.

According to the Bloomberg Billionaires Index, Platt’s net worth stands at $12.8 billion.

Platt remarked, “Engitix has crafted a powerful approach that blends data, biology, and drug discovery. I am glad to continue my support as the company progresses its work in fibrosis and solid tumor treatments.”

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