A financing round that was significantly oversubscribed by new and existing investors will help advance the Oxford-headquartered biotech's exosome therapeutics into the clinic and expand its technology platform.

In tandem with buying the rest of Kleo, Tonix licenses molecular degradation technology from Yale. Neurogene, University of Dundee partner on cell therapies for neurological disorders.

The US major will work with Evox Therapeutics on potential treatments of neurological disorders using the Oxford-based firm's DeliverEX platform.

Recent excitement around exosomes underscores their potential to solve drug delivery challenges that have limited the power and applicability of the biopharma industry’s growing arsenal of therapeutic modalities.