Mogrify has collected $17m in a second series A tranche led by Parkwalk Advisors to bring the round’s total to $33m.
Mogrify, a UK-based cell conversion technology developer with links to Bristol, Monash and Duke universities, secured $17m in a series A extension yesterday to bring the round’s total to $33m.
Parkwalk Advisors, the fund management subsidiary of commercialisation firm IP Group, led the second close, which also included Astellas Venture Management, the corporate venturing arm of pharmaceutical firm Astellas, 24Haymarket (1), Jonathan Milner and Darrin Disley.
Patient capital fund Ahren Innovation Capital led a $16m first tranche in 2019, when Parkwalk and 24Haymarket also took part.
Founded in 2016, Mogrify has built a technology to reprogram any mature human cell type into any other.
The additional series A financing will support the development of Mogrify’s immuno-oncology and ophthalmic assets, as well as its platform and exploratory work into other therapeutic applications.
Lorenz Mayr, former chief technology officer of GE Healthcare Life Sciences and vice-president of discovery sciences at AstraZeneca, has been appointed a non-executive director, while Hiromichi Kimura of Astellas Venture Management has joined the board as an observer.
Alastair Kilgour, chief investment officer of Parkwalk Advisors, said: “Mogrify is led by a team with proven world-class commercial and scientific expertise who have made significant progress in applying the technology to drive the speed, efficiency and maintenance of cellular reprogramming.
“We are excited to continue supporting their extraordinary team as the company progresses with increasing success in cell and gene therapy development.”
Mogrify has now received $37m altogether, though some of this appears to be grant funding. It previously obtained $3.7m in seed funding in February 2019 led by Ahren, with participation from 24Haymarket and chief executive Darrin Disley.
(1) Disclosure: 24Haymarket is a shareholder of Mawsonia, the publisher of Global University Venturing.
