Mogrify extends Series A financing to $46 million USD
Summary
Mogrify Limited (Mogrify\xae), a biopharmaceutical company transforming the lives of patients through a novel class of in vivo reprogramming therapies, announced today 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 Mogrifys pipeline of in vivo reprogramming therapies through pre-clinical translation, continued platform optimization, and facilitation of new and existing biopharma 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 Mogrifys 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. 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.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. 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 has made significant progress in the development and commercialization of its technology and is uniquely positioned to address a rapidly growing regenerative medicine market. 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 MOGRIFY platform as an investor.The Mogrify team continues to progress a robust scientific and commercial strategy, aligned to the USP of the technology in generating novel in vivo reprogramming therapies that have the potential to deliver transformative outcomes for patients.