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Mission Bio Raises $70M in Series C Funding Round

NEW YORK – Mission Bio said today that it has raised $70 million in a Series C funding round.

The South San Francisco-based firm said it will use the funding to scale its Tapestri singe-cell multi-omics technology, to expand the company's reach in more effective clinical trials for novel cancer treatments, as well as characterization for cell and gene therapy.

Mission Bio's Tapestri platform can simultaneously detect DNA and protein changes from the same cell, which it believes is necessary for developing impactful precision therapies.

The funding round was led by Novo Growth with participation from Soleus Capital. The round also included participation from earlier investors Mayfield, Cota, and Agilent. According to a Mission Bio spokesperson, the company's total funding is now around $120 million.

"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," Charlie Silver, CEO and cofounder of Mission Bio, said in a statement.

As part of the funding round, Robert Ghenchev, senior partner and head of Novo Growth, has joined Mission Bio's board of directors.

"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 somatic and hereditary cancers, as well as non-cancer diseases," Ghenchev said in a statement. "We further see a clear opportunity in drug development, where the technology can bring great impact to patients' lives." 

For a more in-depth look at Mission Bio's biopharma plans, click here.