Mozart Therapeutics Raises $25 Million in Expanded Series A Financing to Support Clinical Development of First-in-Class CD8 Treg Modulators for the Treatment of Autoimmune Diseases
Funding supports clinical development of first therapeutic candidate and pipeline expansion
Marie-Claire Peakman, PhD, Partner, Pfizer Ventures, and Jasmina Marjanovic, PhD, Director AbbVie Ventures, to join Mozart's Board of Directors
SEATTLE, June 7, 2023 /PRNewswire/ -- Mozart Therapeutics, a leading developer of CD8 Treg Modulators for the treatment of autoimmune and inflammatory diseases, today announced it has raised $25 million from new investors in a Series A extension, bringing the total raise to $80 million. The proceeds will be used to advance the company's lead candidate, MTX-101, into first-in-human clinical trials and to support pipeline expansion.
New investors Pfizer Ventures, AbbVie Ventures, Ono Venture Investment and UPMC Enterprises participated in the round. They join existing Mozart investors ARCH Venture Partners, Sofinnova Partners, Eli Lilly & Company, MRL Ventures Fund (the early-stage therapeutics-focused fund of Merck & Co., Inc.), Leaps by Bayer, Altitude Life Science Ventures, and Alexandria Venture Investments. In association with the financing, Marie-Claire Peakman, PhD, Partner of Pfizer Ventures, and Jasmina Marjanovic, PhD, Director AbbVie Ventures, will join Mozart's Board of Directors.
Mozart is developing a portfolio of CD8 Treg Modulators including MTX-101, a bispecific autoimmune checkpoint inhibitor, for the treatment of autoimmune diseases. The company anticipates filing an IND and initiating a Phase 1 clinical trial for MTX-101 in early 2024. An additional cytokine based CD8 Treg network Modulator is in preclinical development.
"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," said Katie Fanning, President and CEO of Mozart Therapeutics. "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," said Marie-Claire Peakman, PhD, Partner Pfizer Ventures. "We look forward to the company's emerging data demonstrating the promise to bring forward novel CD8 Treg modulators with broad therapeutic potential."
"We are excited about the science and approach Mozart is taking to restore immune balance across a spectrum of autoimmune mediated diseases," said Jasmina Marjanovic, PhD, Director AbbVie Ventures. "There remains significant unmet need for new treatments that are safe and effective, and we look forward to supporting the company through its next phase of growth."
About MTX-101
MTX-101 is a bispecific autoimmune checkpoint inhibitor targeting CD8 and KIR2DL to selectively restore the cytolytic function of CD8 Tregs for selective elimination of pathogenic immune cells and to reestablish immune balance in disease.
About Mozart Therapeutics
Mozart Therapeutics is focused on developing disease-modifying therapies for autoimmune and inflammatory diseases that work by targeting a novel regulatory CD8 T cell network. The company is headquartered in Seattle, WA. For more information visit www.mozart-tx.com and follow the company on LinkedIn @Mozart-tx.
Media Contact:
Julie Rathbun
Rathbun Communications
[email protected]
206-769-9219
SOURCE Mozart Therapeutics
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