Mogrify Ltd, a Cambridge, UK-based company advancing life-saving cell therapies, held the initial close of its Series A funding raising $16m.
The round, which brought total funding raised by the company to date to over $20m, was led by existing investor Ahren Innovation Capital (Ahren), with participation from Parkwalk, 24Haymarket, and the University of Bristol Enterprise Fund III.
The company intends to use the funds to advance its internal cell therapy programs, develop out-license of novel IP relating to cell conversions of broad therapeutic interest, and increase headcount to 60 scientific, operational and commercial staff located at its facility on Cambridge Science Park.
Launched in February 2019 and led by Dr. Darrin M. Disley, OBE, CEO, Mogrify has developed a proprietary direct cellular conversion technology, which makes it possible to transform (transmogrify) any mature human cell type into any other without going through a pluripotent stem cell- or progenitor cell-state.
The company is deploying this platform to develop novel cell therapies addressing musculoskeletal, auto-immune, cancer immunotherapy, ocular and respiratory diseases as well as generating a broad IP position relating to cell conversions that exhibit safety, efficacy and scalable manufacturing profiles suitable for development as cell therapies.
Mogrify is commercializing its technology platform via a model that includes development and out-license of internally developed cell therapy assets, development and license of novel cell conversion IP, and the formation of joint-ventures to exploit the platform and/or novel cell conversion IP in non-core areas.
Alice Newcombe-Ellis, Founder and Managing Partner of Ahren, and Alastair Kilgour, Chief Investment Officer, Parkwalk, both join Mogrify’s board of directors along with Dr. Karin Schmitt, the company’s Chief Business Officer.