Mission Therapeutics Raises $15M in Funding
Summary
Mission Therapeutics, a Cambridge, England-based drug discovery and development company focused on selectively inhibiting deubiquitylating enzymes (DUBs), raised $15m (£12m) in equity funding. All other existing investors (Sofinnova Partners, Roche Venture Fund, SR One, IP Group and Schroders Adveq) joined the round on a pro rata basis. Mission and Pfizer Inc. have also expanded their relationship by entering into an evaluation and option agreement for DUB target validation. Under the terms of the evaluation and option agreement, Pfizer will access specific DUB inhibitors from Mission’s platform and test these compounds in phenotypic screens to validate promising drug targets. The company has built a platform for the discovery and development of small molecule drugs that selectively target deubiquitylating enzymes (DUBs) – an emerging drug class that is attracting significant commercial interest in the area of protein homeostasis.