Mosaic Therapeutics closes $28m Series A funding round
Mosaic Therapeutics, a Cambridge-based oncology therapeutics company, has closed a $28 million Series A funding round. The company has also appointed former Novartis Oncology SVP Brian Gladsden as CEO.
The investment in this round was raised from Syncona Investment Management and Cambridge Innovation Capital.
The funding will be used to further advance Mosaic’s pipeline of targeted oncology therapies for biomarker-stratified populations, progressing its lead programmes through preclinical development to IND-enabling studies.
Mosaic says the cash will also support recruitment efforts, building its senior leadership, experimental biology and computational teams.
Mosaic’s use of advanced computational methods, while combining mining of large datasets with experimental approaches to identify and develop novel targeted therapies, reinvents the traditional approach to target and drug discovery.
Its bespoke relationship with the Wellcome Sanger Institute provides unique access to deep scientific expertise, infrastructure, and biological assets.
Brian Gladsden joins as CEO following a 25-year career in biopharma, including five with Bayer AG and 15 with Novartis Oncology, where he was Senior VP and a member of the worldwide leadership team, with responsibility for global commercialisation and strategy for the portfolio.
He has held various leadership positions including country CEO, leading cancer therapeutic development and commercial launch across the US, Europe, Australia, South Korea and Japan.
Mosaic’s proprietary platform applies research from co-founder Dr Mathew Garnett’s Translational Cancer Genomics Laboratory at the Wellcome Sanger Institute.
Dr Garnett is a senior group leader at Sanger with over 20 years’ experience in genomics and cancer therapeutics, with past achievements including co-discovery of BRAF mutations in cancer and Werner Syndrome helicase as a target in MSI tumours.
Brian Gladsden said: “I believe that Mosaic is ideally positioned to resolve the complexity of cancer, to discover and develop targeted therapies that address areas of high unmet need.
“The people, platform, connection to a world-leading genomics research institute and strong investor partnerships are truly best in class. To receive funding from such high calibre investors is testament to the potential of Mosaic’s technology and multidisciplinary team, as well as the exceptional support provided by the Wellcome Sanger Institute.”
Alongside Dr Garnett, the company was co-founded by Professor Emile Voest and Dr Adrian Ibrahim. Professor Voest is Professor of Medical Oncology, Chairman of the Board of Cancer Core Europe, Group Leader at the Netherlands Cancer Institute and Oncode Institute, and Independent Director of the Board of Sanofi S.A.
Dr Ibrahim was formerly head of Technology Translation at the Wellcome Sanger Institute, has 30 years’ experience across the discovery and development of cancer and genomics technologies and has been involved in multiple genomics company spin-outs.
Mathew Garnett said: “Mosaic is ready to lead the next wave of treatments for cancer, through the discovery of effective targeted therapies in molecularly-defined patients.
“Cancer is a complex disease and our platform, combining large-scale screening in advanced cancer models and cancer big data, gives Mosaic unprecedented clarity and insights.
“With high calibre investors, an experienced CEO and solid scientific foundations, we’re building an exceptional team to deliver on our vision to develop safer and more effective medicines.”
Anne Horgan, Partner at Cambridge Innovation Capital and Director of Mosaic, said: “We are delighted to invest in Mosaic Therapeutics and its outstanding founders, backing our third spin out from the Wellcome Sanger Institute.
“We also welcome Brian, a seasoned oncology executive, to the team. Mosaic’s unique combination of advanced data science, large dataset mining and experimental approaches has the capability to identify and develop novel targeted therapies for the patient groups most likely to respond to these treatments.
“Cambridge UK is a globally important hub for biotechnology and life sciences, and Mosaic is a great example of innovation in the ecosystem.”
Article sourced from: www.businessweekly.co.uk