Onya Therapeutics raises £4.6bn for chronic wound care technology

Developing patented drug delivery patches to treat chronic wounds, Ebbw Vale-based Onya Therapeutics has raised an estimated £4609.9m in its latest funding round. This Series C+ investment brings the company to an estimated post-money valuation of £610062.1m.

Founded in 2020, Onya Therapeutics focuses on the chronic and acute wound care markets. The company addresses conditions such as diabetic foot ulcers, which carry a five-year mortality rate of approximately 30%. Its technology, described as Active Exudate Therapy, uses medicated patches to modulate wound exudate at the source. This approach is designed to resolve chronic inflammation and restart the healing process without requiring new equipment or extensive clinical retraining.

The company lead investigational programme is OTX-PP01, a medicated patch for diabetic foot ulcers, venous leg ulcers, and pressure ulcers. A second product, OTX-PP02, is also part of its patented platform. These controlled-release technologies aim to accelerate healing and reduce the clinical reliance on antibiotics.

This Series C+ round follows a series of smaller capital injections over the past two years. Onya Therapeutics previously raised £403.4k in May 2025, £211.7k in February 2025, and £1.2m in January 2025. An earlier round in August 2024 secured £230.2k.

Financial filings indicate the company has seven employees, while its LinkedIn profile lists a headcount of 14. The biotechnology firm is headquartered in Ebbw Vale and maintains a Clinical Advisory Board chaired by Professor Steven Jeffery. Other board members include Jacqui Fletcher OBE, Professor Karen Ousey, Dr Thomas Serena, Professor Keith Harding CBE, and Breda Cullen.

In March, the company appointed Blaz Gorjup as a director. This appointment followed the allotment of shares for this round in December 2025, with formal documentation filed in March. The company continues to target military applications and other significant medical indications through its drug delivery platform.