Sofinnova and Imperial's Mission Therapeutics raises £60m
Sofinnova Partners-backed British biotechnology business Mission Therapeutics has raised £60m in a funding round led by Woodford Patient Capital Trust.
The round also saw participation from existing investors Imperial Innovations Group, Sofinnova, SR One, Roche Venture Fund and Pfizer Venture Investments.
Imperial committed £11.3m to the round, to be allocated in multiple tranches, with the first £3.9m tranche having already been provided. Imperial's shareholding in Mission following the investment round increased to 21.6%, having invested £5.8m in the company before this round.
Previous funding
Mission's latest funding round brings its total venture capital backing to £86m, having received a £6m injection from Imperial, SR One and Sofinnova in August 2011, followed by a £20m round in November 2013 when Pfizer joined the investor group.
Company
Founded in 2011 and headquartered in Cambridge, Mission is a biotechnology company focused on developing treatments that target debequinating enzymes to treat cancer and neurodebilitating diseases.
People
Imperial Innovations – Rob Woodman (director).
Mission Therapeutics – Anker Lundemose (CEO).
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