Mogrify receives Innovate UK funding to accelerate regenerative cell therapiesPublished: March 19, 2019
Cambridge, UK-based cell therapy startup Cell Mogrify Ltd has received $555,000 USD (£420,000 GBP) funding from Innovate UK to advance cell-conversion technology platform for cell therapies.
The company will use the funds to advance its bioinformatic approach to develop three cell therapies with potential application in wound healing, and oncology immunotherapy.
Mogrify began its operation in 2016 and was founded by leading academicians in the field of bioinformatics, cell programming and machine learning, Professors Julian Gough (Cambridge, UK), Jose Polo (Monash University, Melbourne), Owen Rackham (Duke-NUS, Singapore), and is chaired by Prof. Steve Jackson (Cambridge, UK).
Using next-generation sequencing and gene-regulatory data, Mogrify aims to identify optimal combinations of transcription factors and small molecules to convert one mature cell type into another. Mogrify has been working on this systematic big data-science approach for 10 years and if the approach is successful, it will eliminate the need for cells to go through a pluripotent stem cell- or even a progenitor cell-state en route to the formation of a new mature cell type.
With the cell therapy market rapidly growing, founders believe that this direct conversion process of cells, known as transdifferentiation, could help overcome the current limitations associated with cell therapy development and manufacturing- ensuring safety, efficacy and scalability.
Last month the company had raised 3.7 million USD to advance its pipeline and is now planning to raise a series A round that will give it significantly more money to fund its work.
Dr Darren Disley, Mogrify’s CEO commented: “The funding from Innovate UK will enable Mogrify to expand its portfolio of cell types and extend its reach into new therapeutics areas to address the global cell therapy opportunity, worth an estimated $30 billion USD.”
Source: Mogrify Awarded $555,000 USD (£420,000 GBP) Innovate UK Funding to Accelerate Regenerative Cell Therapies; Press Release