Mission Therapeutics Raises £25.2M for Mitochondrial Disease Drug Development
Mission Therapeutics, a Cambridge, UK-based clinical-stage biotech company, recently announced that it has raised £25.2M in funding. The round was led by existing investors including Pfizer Venture Investments, Sofinnova Partners, Roche Venture Fund, SR One, IP Group, and Rosetta Capital. This funding will be used to accelerate the development of the company's lead drug candidates, MTX325 and MTX652, through clinical trials.
Founded by CEO Dr Anker Lundemose, Mission Therapeutics specializes in discovering and developing novel therapeutics that promote the removal of dysfunctional mitochondria to enhance cell and organ health.
Mitochondria play a crucial role in energy production and cell function, but dysfunctional mitochondria can lead to various health issues such as reduced energy production, oxidative stress, inflammation, and cell death. The company's focus on enhancing mitophagy, a cellular process that clears dysfunctional mitochondria, aims to address diseases like acute kidney injury, Parkinson’s Disease, heart failure, and more.
At the center of Mission Therapeutics' drug development efforts are small molecule drugs MTX652 and MTX325, which target the mitochondrial DUB enzyme USP30 to promote the clearance of dysfunctional mitochondria. By inhibiting USP30, these drugs could potentially improve cellular health and be used to treat a wide range of diseases and conditions caused by mitochondrial dysfunction. Dr Lundemose expressed optimism about the company's progress and the funding received, highlighting the upcoming clinical trials as crucial steps in advancing their pipeline of innovative therapies.
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| # | Investor | Sector | Stage | Activity | Team | Connect |
|---|---|---|---|---|---|---|
1 |  Pfizer Venture Investments | 1 investment(s) investment(s) | more info | |||
2 |  Sofinnova Partners | 7 investment(s) investment(s) | 29 contacts contacts | |||
3 |  Roche Venture Fund | 1 investment(s) investment(s) | more info | |||
4 |  SR One | 1 investment(s) investment(s) | more info | |||
5 |  IP Group | 2 investment(s) investment(s) | more info |
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