What Theolytics does

Theolytics is a clinical-stage biotechnology company headquartered in Oxford, UK, founded in 2017 to develop next-generation oncolytic viral immunotherapies for cancer. Its core technology is the proprietary ADENOVO discovery platform, which leverages adenovirus libraries exceeding 100 million variants combined with bioselection and screening systems that mimic Darwinian natural selection to identify candidates optimized for specific patient populations. The lead candidate THEO-260 is an engineered oncolytic adenovirus specifically evolved to target stromal-rich tumors through a three-part mechanism: direct killing of cancer-associated fibroblasts (CAFs), direct killing of cancer cells, and reshaping of the anti-cancer immune response via immunogenic cell death and T-cell activation. THEO-260 is currently in Phase 1/2a evaluation (OCTOPOD-IV and OCTOPOD-IP trials) for platinum-resistant ovarian cancer across the UK, Spain, Canada, and the United States, with an additional preclinical candidate THEO-741 in development for colorectal cancer.

The company does not currently generate commercial revenue. Its value creation strategy is to advance THEO-260 through clinical proof-of-concept and then commercialize via licensing agreements with larger pharmaceutical partners or through independent commercialization upon regulatory approval. To date Theolytics has funded operations primarily through a £19 million equity financing in April 2024 led by Sound Bioventures with M Ventures, Taiho Ventures, Epidarex Capital, Oxford Science Enterprises, and the University of Oxford, supplemented by a £2 million Innovate UK grant in September 2024 and an €8 million non-dilutive Horizon Europe 2025 grant in March 2026. Distribution of its investigational therapy occurs exclusively through multi-center clinical trial partnerships with leading cancer centers, including MD Anderson Cancer Center in the US, Institute of Cancer Research in London, Clínica Universidad de Navarra, the Catalan Institute of Oncology, and Princess Margaret Hospital in Toronto.

Theolytics is led by CEO David Apelian, co-founder and CSO Margaret Duffy, CMO Matilde Saggese, Chairman Ken Powell, and President of Research Kerry Fisher. The firm has 11-50 employees, operates from its registered office at the Oxford Science Park, and runs an additional operational office at ARC Oxford. Its target end users are patients with high-grade serous or endometrioid ovarian cancer who have developed platinum-resistant disease, a population with a 10-year survival rate of only 35% and limited effective treatment options.

Name

Theolytics

Legal name

Theolytics Limited

Website

https://theolytics.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Theolytics is an Oxford, UK-based clinical-stage biotechnology company developing oncolytic viral immunotherapies for cancer, with its lead candidate THEO-260 in Phase 1/2a trials for platinum-resistant ovarian cancer using its proprietary ADENOVO discovery platform.

Ownership category

akta.pro rank

Product category

Oncolytic Viral Immunotherapy / Oncology Biopharmaceuticals

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)

akta.pro secondary industry

Therapeutic Vaccines (e.g., Cancer/Chronic Infection) (HLAIAEAG)

Keywords

• Oncolytic viral immunotherapy
• Clinical-stage biotechnology
• Oncolytic virus therapy
• Adenovirus platform
• Ovarian cancer therapeutics

Headquarters

HQ city

Oxford

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Pipeline Development and Licensing: As a clinical-stage biotechnology company, Theolytics does not currently generate revenue. The company's value creation strategy is focused on advancing its lead candidate THEO-260 through clinical trials to demonstrate safety and efficacy, with the intent to commercialize through licensing agreements with larger pharmaceutical partners or through independent commercialization upon regulatory approval.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Theolytics develops next-generation oncolytic viral immunotherapies for cancer treatment, using engineered adenoviruses to selectively kill cancer cells and cancer-associated fibroblasts (CAFs) while activating anti-tumor immune responses. Its lead candidate THEO-260 is in Phase 1/2a clinical trials for platinum-resistant ovarian cancer, delivered via both intravenous (OCTOPOD-IV) and intraperitoneal (OCTOPOD-IP) routes. The company leverages its proprietary ADENOVO discovery platform, which contains virus libraries of over 100 million variants and uses Darwinian bioselection to identify optimized therapeutic candidates for specific patient populations.

Product overview

Theolytics is developing a pipeline of best-in-class oncolytic immunotherapies built on its proprietary ADENOVO Platform. The platform combines proprietary adenovirus libraries exceeding 100 million variants with advanced bioselection systems to identify and develop therapeutic candidates. The lead product, THEO-260, is a novel oncolytic immunotherapy with three modes of action (CAF-lytic, cancer cell-lytic, and immune activation) being evaluated in Phase 1/2a clinical trials for ovarian cancer. Pipeline expansion includes THEO-741 for colorectal cancer and additional early-stage candidates across multiple indications.

Differentiator

Problem solved

Functional benefit

Products and services

• THEO-260 Lead oncolytic immunotherapy candidate specifically evolved to target stromal-rich tumors, with three modes of action: direct killing of cancer-associated fibroblasts (CAFs), direct killing of cancer cells, and reshaping of the anti-cancer immune response through immunogenic cell death and T-cell activation. Currently being evaluated in Phase 1/2a clinical trials (OCTOPOD-IV via intravenous delivery and OCTOPOD-IP via intraperitoneal delivery) for platinum-resistant ovarian cancer.
• THEO-741 Pipeline candidate being developed for colorectal cancer with arming capability (transgene payload) to further enhance its potential as an anti-cancer therapeutic. Currently in preclinical development stage.

Quantifiable outcome

• Regulatory approval received for clinical trials in UK, Spain, Canada, and USA
• +1 more outcomes

Named customers5 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• The University of Texas MD Anderson Cancer CentercoreStrategic or Co-development PartnerMD Anderson Cancer Center is conducting the OCTOPOD-IP Phase 1 clinical trial investigating intraperitoneal delivery of THEO-260 in platinum-resistant ovarian cancer patients. Principal investigator is Amir A. Jazaeri, MD. This is Theolytics' first IND in the USA.
• Institute of Cancer Research (ICR), LondoncoreStrategic or Co-development PartnerClinical and translational research partner in the OCTOPOD-IV study. Professor Alan Melcher provides translational immunology expertise and the ICR will provide important translational data to assess THEO-260's novel mechanism of action.
• Clínica Universidad de NavarracoreStrategic or Co-development PartnerClinical trial partner in Spain for OCTOPOD-IV study. Dr. Antonio González, Director of the Department of Medical Oncology and Cancer Center at the Clínica Universidad de Navarra, is involved in the trial investigating THEO-260 in advanced platinum-resistant ovarian cancer patients.
• Princess Margaret Hospital, TorontocoreStrategic or Co-development PartnerInternational clinical trial partner for OCTOPOD-IV study in Canada, evaluating THEO-260 in ovarian cancer patients.
• Catalan Institute of Oncology, SpaincoreStrategic or Co-development PartnerInternational clinical trial partner for OCTOPOD-IV study, involved in the multi-center trial evaluating THEO-260 in platinum-resistant ovarian cancer.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• PsiOxus Therapeutics: UK-based clinical-stage oncolytic virus company developing enadenotucirev and the T-SIGn platform for solid tumors. Closest geographical and modality peer to Theolytics with comparable adenovirus-based approach and Oxford/UK biotech ecosystem roots.
• Imugene: Clinical-stage Australian biotech developing oncolytic virotherapy (CF33, CHECKvacc) and B-cell immunotherapies for solid tumors. Direct peer in the engineered oncolytic virus space with similar clinical-stage pipeline and tumor-targeting approach.
• Oncorus: Clinical-stage biotech developing oncolytic virus therapies (ONCR-177 and others) using engineered HSV and other platforms. Direct peer in the engineered viral immunotherapy space with similar clinical stage and tumor-targeting approach.
• SillaJen: Clinical-stage biotech developing oncolytic virus therapies including pexastimogene devacirepvec (Pexa-Vec) for hepatocellular carcinoma and other indications. Direct peer in the oncolytic virus space with Phase 3-stage clinical assets.
• Replimune Group: Clinical-stage US biotech developing a pipeline of oncolytic immunotherapies (RP1, RP2, RP3) using a proprietary platform. Most directly comparable peer given similar modality (engineered oncolytic virus), clinical stage, and platform-based pipeline approach across multiple tumor indications.
• Vyriad: Clinical-stage oncolytic virus company developing engineered vesicular stomatitis virus (VSV) and other platforms for cancer immunotherapy. Direct peer in the engineered virus category with comparable clinical-stage pipeline targeting solid tumors.
• CG Oncology: Clinical-stage biotech developing oncolytic immunotherapy (cretostimogene grenadenorepvec) for bladder cancer. Direct peer in the engineered oncolytic virus space with later-stage clinical assets and similar GTM motion targeting tumor types underserved by conventional therapy.
• Turnstone Biologics: Clinical-stage biotech developing oncolytic viral immunotherapies (including TILT-123) for solid tumors. Direct peer in the engineered oncolytic virus category with platform-based approach to combining viral therapy with immune activation.
• Transgene: French clinical-stage biotech developing oncolytic virus therapies (TG6002, BT-001) and immunotherapies for solid tumors. Direct peer in the engineered oncolytic virus category with European footprint and similar clinical-stage development profile.

Broad incumbents

• Amgen (Imlygic / talimogene laherparepvec): Developer of Imlygic, the first FDA-approved oncolytic virus therapy (for melanoma). Broad incumbent establishing the commercial precedent for the modality that Theolytics and other clinical-stage peers must compete against or partner with.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/theolytics
• LinkedInlinkedin.com/company/theolytics

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds6 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Theolytics