Mission Bay Capital has backed a series B round for orphan diseases drug developer Glycomine, which also attracted Novo, Asahi Kasei Pharma and Chiesi.
US-based biotechnology developer Glycomine obtained $33m in a series B round on Wednesday backed by Mission Bay Capital, the venture capital arm of California Institute for Quantitative Biosciences (QB3).
Pharmaceutical firm Novo led the round, which also featured pharmaceutical companies Asahi Kasei Pharma and Chiesi, the latter participating through corporate venturing subsidiary Chiesi Ventures. Investment firm Sanderling Ventures also took part.
QB3 is a research and commercialisation institute spanning three University of California (UC) campuses – UC Berkeley, UC San Francisco and UC Santa Cruz.
Founded in 2013, Glycomine is working on treatments for rare metabolism and protein misfolding disorders for which no therapy currently exists.
The company’s lead asset is aimed at a condition called PMM2-CDG, symptoms of which include liver disease, immune and nervous system disorders and episodes resembling strokes. It will use the money to advance the candidate into early-stage trials.
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Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
