The funding round included new investors Schroders Capital, 3B Future Health Fund, Caribou Property, and British Patient Capital.
Existing investors Epidarex Capital and ALSA Ventures have also participated in the funding round.
Epsilogen also plans to use the funds to establish the clinical proof-of-concept for MOv18 IgE, which targets the folate receptor alpha (FR alpha) antigen.
The company will begin a Phase Ib trial of the drug candidate in platinum-resistant ovarian cancer, which is said to be an aggressive cancer that has poor treatment alternatives.
MOv18 IgE demonstrated to be safe and well tolerated with early signs of clinical activity, as per the previous data obtained from a Phase I study.
Epsilogen CEO Dr Tim Wilson said: “This significant, new financing round will not only fund demonstration of clinical Proof of Concept for MOv18 but also allow Epsilogen to maintain its position as the leading pioneer in the development of IgE therapeutic antibodies for the treatment of cancer.
“We are very pleased to have attracted new investors of the calibre of Novartis Venture Fund, 3B Future Health Fund, British Patient Capital, Schroders Capital and Caribou Property.
“We also appreciate the continued support and investment from our existing investors Epidarex Capital and ALSA Ventures.”
The company will also use proceeds from the funding round for further development of its IGEG antibody platform.
The platform combines elements from IgE and IgG antibodies into new antibody molecules with improved functionality.