Funding will support the advancement of Mogrify’s pipeline of in vivo reprogramming therapies.
The biopharmaceutical company Mogrify has closed an additional US$10 million in Series A financing, bringing the total raised to US$46 million.
The funding will support further advancement of Mogrify’s pipeline of in vivo reprogramming therapies through pre-clinical translation, continued platform optimisation and facilitation of new and existing biopharma collaborations.
The additional close was co-led by corporate investor, Astellas Venture Management and Parkwalk Advisors, the leading funder of UK university spin-outs, with support from Ahren Innovation Capital, Trend Investment Group and Dr Jonathan Milner, co-founder of Abcam Plc.
“We are delighted to receive the continued support of Astellas Venture Management, Parkwalk Advisors and other existing investors as we relentlessly focus on progressing our novel pipeline of in vivo reprogramming therapies through pre-clinical translation,” said Dr Darrin M. Disley OBE, CEO at Mogrify.
This latest funding will provide sufficient cash runway to enable the achievement of key development milestones in both our internal programmes as well as those being developed in collaboration with strategic partners. Existing investor commitment is a testament to our delivery of world-class science, expertise in cellular reprogramming and the unique potential of the platform to deliver novel regenerative medicines to improve the lives of a broad spectrum of patients.”
Proceeds from the financing will be used to advance Mogrify’s pipeline of in vivo reprogramming therapies, delivering the milestones necessary to facilitate a Series B fundraise in 2024/25 and subsequent progression of a lead programme into first-in-human studies.
The company’s pipeline aims to address degenerative diseases of the eye, ear and pancreas via direct in vivo restoration of clinically valuable cell types. The ultimate aim, the company says, is to transform the lives of patients suffering from vision loss, hearing loss and diabetes.
Mogrify’s proprietary platform technologies enable systematic identification of the key transcriptomic and epigenetic cell switches required to control human cell fate.
“Mogrify has made significant progress in the development and commercialisation of its technology and is uniquely positioned to address a rapidly growing regenerative medicine market,” said Tadayoshi Hirata, Senior Investment Manager, Astellas Venture Management.
“In addition to the collaboration between our parent company Astellas Pharma Inc. and Mogrify in the context of sensorineural hearing loss that began in July 2022, we are pleased to continue to support the company and its exploitation of the platform as an investor.”