Northern Biologics and Mosaic Biomedicals shape merger

Dec 21, 2016 •

Antibody therapy developer Northern Biologics has extended its series A round and merged with oncology treatment developer Mosaic Biomedicals.

Northern Biologics, a Canada-based oncology and fibrosis-focused biotechnology company backed by pharmaceutical firm Celgene, merged with Spain-based personalised cancer therapy developer Mosaic Biomedicals on Monday.

Terms of the deal have not been disclosed. Venture capital firm Versant Ventures has concurrently extended its series A commitment to Northern Biologics by an undisclosed amount while Celgene exercised an option to acquire certain rights to the MSC-1 drug candidate.

The merger will support the development of MSC-1, an antibody Mosaic has created to…

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