Mogrify Extends Series A Financing to $46 Million USD
Key highlights:
- Additional close of $10 million USD brings total raised in Series A to $46 million USD.
- Funding co-led by Astellas Venture Management and Parkwalk Advisors with participation from other internal investors.
- Funding will support advancement of Mogrify’s dedicated pipeline of in vivo reprogramming therapies through pre-clinical translation, continued platform optimisation, and facilitation of new and existing biopharma collaborations.
Mogrify Limited (Mogrify), have announced an additional $10 million USD closing of its Series A financing, bringing the total raised to $46 million USD in this round. 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 existingbiopharma collaborations.
This additional close was co-led by strategic 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.
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 program 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, and in doing so, transform the lives of patients suffering from vision loss, hearing loss and diabetes.
Dr. Darrin M. Disley OBE, CEO, Mogrify, said: “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. Aligned to a consolidated corporate structure and vision, this latest funding will provide sufficient cash runway to enable the achievement of key development milestones in both our internal programs 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 Mogrify platform to deliver novel regenerative medicines to improve the lives of a broad spectrum of patients.”
Mogrify’s proprietary platform technologies enable systematic identification of the key transcriptomic and epigenetic cell switches required to control human cell fate. Deploying next-generation sequencing and a human gene regulatory network-centric approach, the platforms uniquely position the Company to affect direct in vivo transdifferentiation between any source cell type and any target cell type of clinical interest.