Mission Bio completes $70M Series C for its tech to enable better cancer treatments

Mission Bio has secured $70 million in Series C financing to scale its single-cell multi-omics technology, according to the company.

Novo Growth, the growth equity of Novo Holdings, led the round that included new investor Soleus Capital. Previous investors Mayfield, Cota, and Agilent also participated in the financing, which brings the company’s total funding to more than $120 million.

The South San Francisco-based startup says the funds will be used to expand its reach in more effective clinical trials for novel cancer treatments, as well as characterization for cell and gene therapy.

“We are on a mission to help our customers eliminate cancer,” said Charlie Silver, CEO, and Co-founder of Mission Bio. “With access to multiple layers of the cellular profile, the Tapestri Platform can help identify novel biomarkers in diseased cells, monitor therapy resistance and response, and accelerate novel therapies through clinical trials. We are delighted to partner with Novo Holdings to advance our impact in drug development and cell and gene therapy.”

According to the release, Mission Bio’s Tapestri Platform is the first-ever single-cell multi0omics platform capable of detecting DNA and protein changes simultaneously from the same cell. The company says it’s able to detect DNA and protein changes simultaneously, which allows to develop more impactful precision therapies.

As part of the financing, Robert Ghenchev, senior partner and head of Novo Growth, has joined Mission Bio’s board of directors. “In Novo Growth, our strategy is to support companies developing cutting edge science that has significant potential to positively impact patients and society,” Ghenchev said in the release. “Single-cell analysis has proven highly valuable in cancer research, and we are confident the technology will be used increasingly to unlock key insights into blood cancers, as well as solid tumor indications.”