Novo Growth leads USD 70m Series C financing round in Mission Bio
- Mission Bio raises USD 70 million in series C funding led by Novo Holdings to accelerate the development of cancer therapies with single-cell multi-omics
- Capital raised will scale the Tapestri Platform to advance the development of precision medicine through improved biomarker discovery and drug development
Mission Bio, Inc., the pioneer in high-throughput single-cell DNA and multi-omics analysis, today announced $70 million in its Series C financing led by Novo Growth, the growth equity arm of Novo Holdings. Soleus Capital also joins the round, along with earlier investors Mayfield, Cota, and Agilent, bringing the company’s total funding to more than $120 million. To support Mission Bio’s rapid growth, the funds will scale its single-cell multi-omics technology, the Tapestri® Platform, to expand the company’s reach in more effective clinical trials for novel cancer treatments, as well as characterization for ceml and gene therapy.
As part of this announcement, Robert Ghenchev, Senior Partner and Head of Novo Growth, has joined Mission Bio’s board of directors. “In Novo Growth, our strategy is to support companies developing cutting edge science that has significant potential to positively impact patients and society. Single-cell analysis has proven highly valuable in cancer research, and we are confident the technology will be used increasingly to unlock key insights into blood cancers, as well as solid tumor indications. We further see a clear opportunity in drug development, where the technology can bring great impact to patients’ lives,” said Ghenchev. “We are impressed with Mission Bio’s innate approach to data integration at the single-cell level and are excited to contribute more than capital by activating our broad life science network to support their mission to greatly impact the success and economics of precision therapy development.”
Over the past year, Mission Bio has advanced its efforts to support drug development through clinical trials and the translation of research into novel biomarkers with its growing install base in NCI cancer centers and key biopharma companies. The Tapestri Platform is the first-ever single-cell multi-omics platform capable of detecting DNA and protein changes simultaneously from the same cell — a capability necessary for the development of more impactful precision therapies. The award-winning technology has been adopted by Agios, LabCorp, Onconova Therapeutics, and other companies to optimize clinical trials and improve the likelihood of success. Leading cancer centers, including Stanford, MD Anderson Cancer Center, the University of California at San Francisco, and Memorial Sloan Kettering Cancer Center, have leveraged the Tapestri Platform to support their work in therapeutic resistance and treatment response monitoring.
“We are on a mission to help our customers eliminate cancer. With access to multiple layers of the cellular profile, the Tapestri Platform can help identify novel biomarkers in diseased cells, monitor therapy resistance and response, and accelerate novel therapies through clinical trials,” said Charlie Silver, CEO, and Co-founder of Mission Bio. “We are delighted to partner with Novo Holdings to advance our impact in drug development and cell and gene therapy.”
For researchers and pharmaceutical companies looking to advance their understanding of cancer and develop more durable therapies with Mission Bio, visit missionbio.com.
About Mission Bio
Mission Bio delivers targeted solutions for high-impact applications with the Tapestri Platform. The Tapestri Platform is the industry’s first and only single-cell multi-omics platform, enabling genotype and phenotype from the same cell and precise detection of heterogeneity in disease progression and treatment response. Application areas include oncology blood cancers, solid tumors, and genome editing validation.
Spun out of research at the University of California, San Francisco, Mission Bio is headquartered in South San Francisco, California.