Mosaic Therapeutics, Ltd has closed its $28 million series A funding round. The investment in this round was raised from Syncona Investment Management, Ltd, and Cambridge Innovation Capital.
The company also announced the appointment of former Novartis Oncology SVP Brian Gladsden as CEO.
The Series A funding will be used to further advance Mosaic Therapeutics’ pipeline of targeted oncology therapies for biomarker-stratified populations, progressing its lead programs through preclinical development to IND-enabling studies. The funds will also support recruitment efforts, building the company’s senior leadership, experimental biology, and computational teams.
Mosaic Therapeutics’ relationship with the Wellcome Sanger Institute also provides it access to scientific expertise, infrastructure, and biological assets.
Mosaic Therapeutics’ platform
Mosaic Therapeutics’ platform applies research from co-founder Mathew Garnett’s Translational Cancer Genomics Laboratory at the Wellcome Sanger Institute. Garnett is a senior group leader at Sanger with more than 20 years’ experience in genomics and cancer therapeutics. Past achievements include the co-discovery of BRAF mutations in cancer and Werner Syndrome helicase as a target in MSI tumors.
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.”
Garnett added: “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.”
Mosaic Therapeutics is the most recent spin-out company from the Wellcome Sanger Institute, with notable achievements including being the single largest contributor to the Human Genome Project, co-founding the International Cancer Genome Consortium, and identifying specific BRAF mutations that underpinned a new class of targeted cancer therapeutics.