Mission Therapeutics raises £25m as two drug candidates advance
Mission Therapeutics is advancing the clinical development of its drug candidates after raising £25.2million.
The funding round was jointly led by existing investors Pfizer Venture Investments, Sofinnova Partners, Roche Venture Fund, SR One, IP Group and Rosetta Capital.
The clinical-stage biotech, which has been based at The Glenn Berge Building on Babraham Research Campus since 2020, was founded in 2011 by Prof Steve Jackson with Dr Niall Martin, Dr Xavier Jacq and Dr Keith Menear.
Mission’s founding goal is to translate cutting-edge cell biology research on DNA repair from Prof Jackson’s laboratory at the Gurdon Institute, University of Cambridge, into drugs that will markedly improve the management of life-threatening diseases, particularly cancer. Prof Jackson, who received a knighthood in 2023, remains actively involved as chair of the company’s scientific advisory board.
Mission Therapeutics plans to use the funds to accelerate development of its lead drug candidates, MTX325 and MTX652, through clinical trials. MTX325 and MTX652 both inhibit USP30, a mitochondrial deubiquitylating enzyme, increasing damage-associated mitochondrial ubiquitylation to promote mitophagy – the essential process cells use to rid themselves of dysfunctional mitochondria.
Mitochondria are energy-producing organelles which require lifetime quality control through a ubiquitin-mediated clearance mechanism known as mitophagy. In certain situations, such as cellular stress, cell injury, and/or defects of the mitophagy process, the mitochondria can become dysfunctional and damaging to the cell, leading to reduced energy production, oxidative stress, inflammation and potentially cell death. A growing body of scientific evidence has linked a build-up of dysfunctional mitochondria in cells to a range of diseases, including Parkinson’s Disease (PD), kidney disease, heart failure, and Duchenne’s muscular dystrophy (DMD).
Each candidate addresses different disorders – but both promote clearance of dysfunctional mitochondria, consequently improving overall cellular health. MTX325 is a CNS penetrant which is a potential disease-modifying treatment for Parkinson’s disease, and is about to enter Phase I trials. Meanwhile, peripherally-restricted MTX652 is in Phase II, investigating acute kidney injury (AKI) associated with cardiac surgery.
Dr James B Summers, acting chairman of Mission Therapeutics, said: “Mission’s laser focus on mitophagy has resulted in a promising suite of drugs that tackle a range of hard-to-treat diseases in a unique and novel way.
“This latest financing round is a sign of our investors’ confidence in the company and the enormous potential of our clinical assets.”
Dr Anker Lundemose, CEO at Mission Therapeutics, said: “Mission Therapeutics has made huge strides in developing its pipeline, first progressing MTX652 into Phase II, then obtaining robust preclinical proof-of-concept data for its Parkinson’s candidate MTX325 – published in Nature Communications – followed by regulatory approval for MTX325 clinical trials in the UK.
“Thanks to this additional £25.2m from our investors, we can now make the next vital steps, progressing with essential clinical trials.”
The Nature Communications study was published last November by scientists at Cambridge University, Harvard University and Mission Therapeutics. It provided key experimental evidence to support the thesis that MTX325 can modify the course of Parkinson’s by targeting USP30.
