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Cambridge U.K. Spin-Off Gains $9.5 Million in Early Funding

Currency dice (MD4 Group/Flickr)Mission Therapeutics, a research spin-off company from Cambridge University in the U.K., has raised £6 million ($US 9.5 million) in Series A funding from a European venture capital syndicate. Series A investments represent the first round of significant funds raised after an enterprise’s initial launch.

The company specializes in the discovery and development of drugs that translate research on DNA repair into therapies for life-threatening diseases like cancer. Mission Therapeutics was founded by Steve Jackson, a biology professor at Cambridge, and head of cancer research at the Gurdon Institute, Cambridge University.

The Series A founding round is led by Sofinnova Partners, an early-stage and spin-off venture capital company in Paris. The syndicate includes Imperial Innovations, SR One, and Roche Venture Fund. The investment marks Imperial Innovation’s first support for a Cambridge spin-off company; it is the technology transfer arm of Imperial College London.

Jackson and his co-founders — Niall Martin, Xavier Jacq, and Keith Menear — founded KuDOS Pharmaceuticals, a Cambridge-based biotech company, in 1997. KuDOS was acquired by the pharmaceutical company AstraZeneca in 2005.

Read more: Venture Company to Invest in Early-Stage Science Enterprises

Photo: MD4 Group/Flickr

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