Mission Therapeutics, a Cambridge, England, UK-based drug discovery and development company focused on selectively targeting deubiquitylating enzymes to treat cancer, neurodegenerative and other diseases, raised £60m in funding.
The round was jointly led by Imperial Innovations and new investor Woodford Patient Capital Trust Plc with participation from existing investors Sofinnova Partners, SR One, Roche Venture Fund and Pfizer Venture Investments.
The company intends to use the funds to advance a series of small molecule drugs candidates targeting specific DUBs into clinical development.
Founded in 2011 and led by Anker Lundemose, Chief Executive Officer, Mission Therapeutics has built a platform for the discovery and development of small molecule drugs that selectively target deubiquitylating enzymes (DUBs), which are involved in multiple cellular processes, including DNA damage and cell proliferation. The inhibition of these enzymes has considerable potential for the generation of novel drugs for treating cancer and other unmet medical needs, including neurodegenerative disease, muscle wasting and infectious disease.
Professor Steve Jackson at Cancer Research UK laboratories and the Gurdon Institute, University of Cambridge is the scientific founder of the company and is the Chief Scientific Officer.
Mission had previously received £27m in venture capital.