Mosaic Therapeutics closes $28m series A financing

Oncology specialist Mosaic Therapeutics Ltd will use a $28m financing to push its preclinical pipeline of targeted oncology therapies for biomarker-stratified populations to IND-enabling studies. At the time of the announcement, the company appointed the former Novartis Oncology Senior VP Brian Gladsden as CEO.

Mosaic’s links mining large datasets with experimental approaches to identify and develop novel targeted therapies. Particularly the company’s target identification and prioritisation capability is based upon patient-derived whole genome sequencing-characterised cellular models, synthetic lethal CRISPR screens, and cutting-edge AI analytics to identify specific cancer vulnerabilities. The company's goal is to reduce the 93% clinical failure rate of current anti-tumour drugs, to reduce the five-year-cancer mortality which is over 50% today and to prioritise the more than 2.000 tumour-specific biomarkers.

Mosaic’s proprietary platform applies research from co-founder Dr Mathew Garnett’s Translational Cancer Genomics Laboratory at the Wellcome Sanger Institute, and uses the Sanger Institute's resources such as Genomics of Drug Sensitivity in Cancer,  the Project Score CRISPR-CAS9, and the cell Model passorts databases along with the Cancer Dependency Map.