Pfizer Ventures joined Mission’s other existing investors to push the mitochondria-focused drug developer’s lifetime funding to approximately $143m.

Mission Therapeutics, a UK-based drug treatment developer based on University of Cambridge research, yesterday secured $15m of funding from a consortium led by Pfizer Ventures, the strategic investment arm of pharmaceutical firm Pfizer.
All of Mission’s existing shareholders contributed on a pro-rata basis, it said, without explicitly listing any of them. It is unknown whether any previous backers subsequently exited the spinout.
Founded in 2011, Mission Therapeutics is targeting multiple diseases with drug molecules that inhibit deubiquitylating (DUB) enzymes thought to play an integral role in the disruption of several cellular processes.
Mission’s lead candidate – USP30 – is in pre-clinical development for indications including acute kidney injury and primary mitochondrial myopathy, a group of genetic mutation-driven disorders that predominantly affect skeletal muscle.
USP30 is also intended to treat idiopathic pulmonary fibrosis, progressive lung scarring with unknown causes, as well as familial mitochondrial disease and Parkinson’s disease. The drug aims to address the decay of mitochondria – cellular organelles that digest nutrients – caused by its target indications.
The equity funding is expected to fuel the development of Mission’s core platform and work to broaden its pipeline of DUB inhibitor-based candidates.
Mission has a strategic agreement with Pfizer and has expanded that deal with the latest round so that the corporate has evaluation and option rights on certain DUB inhibitor targets, excepting lead programs such as USP30.
Mission Therapeutics secured $86m of series C funding led by Touchstone Innovations – then called Imperial Innovations –  in 2016, with participation from Pfizer Ventures, Roche Venture Fund, SR One – the latter two being subsidiaries of pharmaceutical firms Roche and GlaxoSmithKline.
Woodford Patient Capital Trust (WPCT), now known as Schroder UK Public Private Trust, and Sofinnova Partners also took part in the series C round.
The same investors, bar WPCT, featured in Mission’s $32m series B round in 2013, following a $9.8m series A in 2011 backed by Imperial Innovations, GlaxoSmithKline, Roche and Sofinnova.