San Francisco, California, USA-based developer of targeted therapeutics based on its engineering platform, Mantra Bio, raised USD 9 million in recent financing. The Series A-2 round took place on January 4, 2022. Samsung Securities joined in as a new investor. Meanwhile, the company received funding from existing investors, including 8VC, Viking Global Investors, Illumina, BoxGroup and Allen & Company.
Purpose of funding for Mantra Bio
With the latest proceeds from the Series A-2 financing, the company intends to advance the development of its lead-targeted exosome therapeutics program.
The company earlier raised USD 25 million in Series A1 funding. With the latest financing, the total capital raised by the firm now stands at USD 34 million.
What the founder has to say
Alex Mok, Mantra Bio’s CEO and co-founder, said, “Mantra Bio has made significant progress in building out REVEAL™, our exosome engineering platform, and leveraging the technology to advance two exosome-based therapeutic programs through preclinical discovery, with a development candidate selected for our lead program aimed at ophthalmic diseases. The new Series A-2 funds will enable Mantra Bio to advance our lead development candidate through IND-enabling studies. The support from Samsung Securities and our existing investors is a strong vote of confidence in the potential of our platform, our therapeutic pipeline strategy, and our progress.”
He further added, “As a new therapeutic modality, manufacturing is critical to the success of our development program and platform,” he said. “We believe the yield, purity and consistency we have achieved in our CMC manufacturing process will enable Mantra to deliver best-in-class therapeutics to patients across a breadth of indications.”
About the company
In 2016, Founders Alex Mok, Katie Planey, and Terry Gaige brought the company into existence. Mantra Bio is developing targeted therapeutics leveraging its proprietary exosome engineering platform, REVEAL. The company’s platform integrates computational biology and bench lab automation. It further leverages the diversity of exosomes to enable the rational design of therapeutics directed at a wide range of tissue and cellular targets. Mantra Bio’s programs include targeted exosome therapeutics for the treatment of certain ocular diseases. in addition, it has novel vaccine for infectious diseases. The lead program in ophthalmology employs engineered bi-specific exosomes that precisely target multiple disease pathways. The company engineered exosomes to deliver an abundance of different surface-loaded therapeutic engagers to diseased cells. Moreover, it leveraged the ability of exosomes to localize them to key tissue segments of the eye. Mantra Bio’s technology capitalizes on exosomes, natural nanoparticles secreted by cells for cell-to-cell communication.
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