Mogrify boosts Series A to $46m to advance cellular reprogramming therapies

Company’s technology enables direct in vivo transdifferentiation between any source cell type and any target cell type of clinical interest.

Cellular reprogramming company Mogrify has added $10 million to its Series A financing, bringing the total raised in the round to $46 million USD. The funding will be used to further advance the company’s pipeline of in vivo cellular reprogramming therapies.

Headquartered in Cambridge, UK, Mogrify’s approach revolves around its proprietary platform technologies, developed over the past 12 years. The platforms use techniques including next-generation sequencing and gene regulatory network analysis to systematically identify the key transcriptomic and epigenetic switches required to control human cell fate.

Crucially, the company says it has developed the ability to enable direct in vivo transdifferentiation between any source cell type and any target cell type of clinical interest. This capability is potentially beneficial in addressing degenerative diseases, particularly those affecting the eye, ear, and pancreas. Mogrify’s goal is to restore clinically valuable cell types within the patient’s body, targeting conditions such as vision loss, hearing loss, and diabetes.

This additional funding will play a pivotal role in advancing Mogrify’s pipeline, ensuring that the company achieves the necessary milestones for a Series B fundraise in 2024/25. Subsequently, this will pave the way for the progression of a lead program into first-in-human studies, marking a significant milestone in the development of innovative therapies.

“Aligned to a consolidated corporate structure and vision, this latest funding will provide sufficient cash runway to enable the achievement of key development milestones in both our internal programs as well as those being developed in collaboration with strategic partners,” said Dr Darrin M Disley, CEO of Mogrify. “Existing investor commitment is a testament to our delivery of world-class science, expertise in cellular reprogramming and the unique potential of the MOGRIFY platform to deliver novel regenerative medicines to improve the lives of a broad spectrum of patients.”

The funding round was co-led by Astellas Venture Management and Parkwalk Advisors, along with participation from other investors, such as Ahren Innovation Capital, Trend Investment Group, and Dr Jonathan Milner, co-founder of Abcam.

“Mogrify has made significant progress in the development and commercialization of its technology and is uniquely positioned to address a rapidly growing regenerative medicine market,” said Tadayoshi Hirata, from Astellas Venture Management, whose parent company Astellas Pharma is collaborating with Mogrify on its sensorineural hearing loss program.

The new funding will also support various aspects of the company’s operations, including pre-clinical translation, platform optimization, and the facilitation of both new and existing biopharma collaborations.

“The Mogrify team continues to progress a robust scientific and commercial strategy, aligned to the USP of the technology in generating novel in vivo reprogramming therapies that have the potential to deliver transformative outcomes for patients,” said Alastair Kilgour, Chief Investment Officer, Parkwalk Advisors.

Photograph: claudioventrella/Envato