Mission BioCapital Announces Platinum Program 2023 Contest in Partnership with Eli Lilly and Company; Winners to Receive Incubator Space and $500,000 in Seed Funding

— Following success of 2022 pilot, MBC boosts 2023 program with substantially
increased funding, geographic reach, and scientific expertise —
— Applications now open —

CAMBRIDGE, Mass., June 12, 2023 /PRNewswire/ -- Mission BioCapital (MBC) announced today the launch of the Mission BioCapital Platinum Program 2023 to identify and support high-potential life sciences startup companies. In collaboration with Eli Lilly and Company (Lilly) as Founding Sponsor, this year's program will feature significantly increased seed funding, a broader geographic network of affiliated labs in the U.S. and Europe, and access to scientific expertise at Lilly.

"Our inaugural Platinum Program in 2022 was a great success, and we are excited to be supporting the winners—two first-time academic founders with potential landmark advancements that are now established in our laboratories in San Francisco," said Jennifer Griffin, Ph.D., Partner, Mission BioCapital. "Building on that progress, we have expanded this year's program substantially, teaming up with Lilly to double seed funding amounts while also greatly expanding the program's geographic reach to find new talent and innovations outside of the major San Francisco and Boston biotech clusters."

The Platinum Program 2023 will award up to six winning start-ups with:

• A guaranteed lab bench in one of MBC's affiliated incubators located in 13 cities in the U.S. and Europe
• $500,000 of seed capital
• Strategic scientific and business development mentorship from experts at Lilly, MBC, and other companies across MBC's corporate network

"We are excited to partner with Lilly as we expand our Platinum Program," said Steve Tregay, Ph.D., Managing General Partner, Mission BioCapital. "Lilly's support will accelerate our mission of helping life sciences innovators prepare to launch and grow more quickly by providing critical capital, turnkey infrastructure, and strategic mentoring that positions them optimally to succeed."

"We are committed to enabling the biotech ecosystem by catalyzing breakthrough science," said Katie Hewitt, Global Head of Business Development, Lilly Catalyze. "The MBC Platinum Program is aligned with Lilly's initiatives to foster and support innovative, early-stage science irrespective of where it originates, and we are delighted to join this effort as a Founding Sponsor."

To apply, visit: http://www.missionbiocapital.com/platinumprogram. Only non-confidential information will be required for application.

About the Mission BioCapital Platinum Program
Mission BioCapital (MBC) established the Platinum Program in 2022 to catalyze the formation of life sciences start-ups by enabling entrepreneurs with breakthrough technologies from diverse backgrounds to quickly launch new companies. Platinum Program winners receive guaranteed laboratory space at MBC's partner incubators in the U.S. and Europe, access to world-class experts, business operations support, and seed capital to quickly develop scientific data needed to obtain subsequent funding rounds. The program invites innovators from around the world, including academic scientists, to submit breakthrough biomedical innovations that have the potential to advance patient care.

About Mission BioCapital
Mission BioCapital is a venture capital firm focused on making pivotal early-stage investments in life sciences companies. We support our portfolio companies through a unique combination of shared lab space, capital investment, and access to strategic partners. With offices in the nation's leading life sciences clusters in Cambridge, MA and San Francisco, Mission BioCapital is dedicated to helping entrepreneurial scientists build successful companies, from idea to exit. Learn more at missionbiocapital.com.

Contact:
Mary Moynihan
M2Friend Biocommunications
+1 (802) 951-9600
[email protected]

SOURCE Mission BioCapital