Seattle-based biotech company, Mozart Therapeutics, has successfully raised an additional $25M in Series A financing, increasing the total funding to $80M. The company plans to channel these resources into the clinical development of their first therapeutic candidate, MTX-101, along with pipeline expansion.
New investors in the round include Pfizer Ventures, AbbVie Ventures, Ono Venture Investment, and UPMC Enterprises. This additional financial commitment illustrates the growing confidence in Mozart’s unique approach to treating autoimmune diseases. They join a notable list of existing investors, including ARCH Venture Partners, Sofinnova Partners, Eli Lilly & Company, MRL Ventures Fund, Leaps by Bayer, Altitude Life Science Ventures, and Alexandria Venture Investments.
As part of the funding agreement, Marie-Claire Peakman, PhD, Partner of Pfizer Ventures, and Jasmina Marjanovic, PhD, Director AbbVie Ventures, will join the Board of Directors at Mozart Therapeutics.
Mozart Therapeutics is leading the charge in the development of disease-modifying therapies for autoimmune and inflammatory diseases. The company is pioneering an innovative approach, targeting a novel regulatory immune pathway to address autoimmune mediated gastro-intestinal disorders. MTX-101, Mozart’s flagship compound, is a first-in-class CD8 Treg Modulator and a bispecific autoimmune checkpoint inhibitor. The therapeutic aims to restore immune balance by selectively eliminating pathogenic immune cells. The team at Mozart anticipates filing an Investigational New Drug (IND) application and initiating Phase 1 clinical trials for MTX-101 in early 2024.
Katie Fanning, President and CEO of Mozart Therapeutics, commented: “We are proud to be developing first-in-class CD8 Treg Modulators with the support of high-quality investors who share our commitment to transform the treatment paradigm for patients with autoimmune diseases. We have made significant progress toward our mission of developing disease-modifying therapeutics that restore immune balance, and this additional capital will help support the advancement of our lead candidate, MTX-101, into the clinic while also funding expansion of our pipeline.”
“Pfizer Ventures is pleased to support Mozart’s mission to develop next generation therapies and to deliver potential benefits to patients suffering from autoimmune diseases. We look forward to the company’s emerging data demonstrating the promise to bring forward novel CD8 Treg modulators with broad therapeutic potential,” said Marie-Claire Peakman, PhD, Partner Pfizer Ventures.
Marjanovic, from AbbVie Ventures, also highlighted the excitement about the scientific approach Mozart is taking to restore immune balance across a spectrum of autoimmune mediated diseases.
With unmet needs for effective and safe treatments for autoimmune disorders, Mozart Therapeutics’ approach and promising clinical trials hold out a beacon of hope for patients. Their approach could herald a new era in autoimmune disease management, underpinned by a new standard of care and improved patient outcomes.