What You Should Know:

Mission Bio raises $70 million in Series C funding led byNovo Growth to accelerate the development of cancer therapies with single-cell multi-omics.

Mission Bios Tapestri Platform, the first single-cell platform capable of detecting DNA and protein changes simultaneously, gives a profound insight into the mutations that drive disease to accelerate the development of novel treatments and save patient lives.

Mission Bio,Inc., a South San Francisco, CA-based pioneer in high-throughputsingle-cell DNA and multi-omic analysis, today announced $70 million in itsSeries C financing led by Novo Growth. Soleus Capital also joins the round, alongwith earlier investors Mayfield, Cota, and Agilent, bringing the companys totalfunding to more than $110 million.

Lack of Understanding at the Single-Cell Level

Cancer is a disease of single cells, and it is driven by DNAmutations. Until now, weve been using outdated tech thats misled us to focuson the wrong parts of these cancer cells. Due to this, our currentunderstanding of the disease at the single-cell level has been incomplete.

Only 3% of cancer drugs tested in clinical trials between2000 and 2015 have been approved to treat patients, and even those that havebeen approved are not as effective as wed hope. Even those aimed at specificbiomarkers like DNA mutations arent effective in every patient with thatmutation, resulting in high rates of relapse. Ultimately, the complexity ofdisease evolution and therapy response requires comprehensive tools tocharacterize how DNA mutations drive disease at the cellular level, includingfunctional changes in the protein. To develop durable therapies, we require adeeper understanding of all analytes of the cell.

One Platform. Genotype + Phenotype

Founded in 2014, Mission Bio Is the first and onlysingle-cell multi-omics platform developed to accelerate the discovery,development, and delivery of treatments for cancer. The Tapestri Platform isthe first-ever single-cell multi-omics platform capable of detecting DNA andprotein changes simultaneously from the same cell a capability necessary forthe development of impactful precision therapies.

The award-winning technology has been adopted by Agios, LabCorp, Onconova Therapeutics, andother companies to optimize clinical trials and improve the likelihood ofsuccess. Leading cancer centers, including Stanford, MD Anderson Cancer Center,the University of California at San Francisco, and Memorial Sloan KetteringCancer Center, have leveraged the Tapestri Platform to support their work intherapeutic resistance and treatment response monitoring.

Over the past year, Mission Bio has advanced its efforts tosupport drug development through clinical trials and the translation ofresearch into novel biomarkers with its growing install base in NCI cancercenters and key biopharma companies.

Expansion Plans

To support Mission Bios rapid growth, the funds will scaleits single-cell multi-omics technology, the Tapestri Platform, to expand thecompanys reach in more effective clinical trials for novel cancer treatments,along with expanding in cell and gene therapy.

Were 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 Founder of Mission Bio. We are delighted to partner with Novo Growth to advance our impact in drug development and cell and gene therapy.

See more here:
Mission Bio Lands $70M to Expand Cancer Therapies With Single-Cell Multi-Omics Platform - HIT Consultant

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