TECH BYTES WORDS MATTHEW GOODING
The latest news and updates from the Cambridge Cluster
A fast-growing Cambridge life science start-up developing technology that can transform human cells into younger versions of themselves has raised $16m (£12.5m). Mogrify has raised the cash to accelerate the development of its novel platform, which could be a game changer for life-saving cell therapies. Led by existing investor Ahren Innovation Capital, the new funding marks the close of Mogrify’s initial Series A round and takes the total amount invested in the company to $20m (£15.5m). The firm’s technology makes it possible to transform, or transmogrify, any mature human cell type into any other. So, for example, you might take a damaged or dying cell and transform it into a younger version of itself so it can be treated. It is deploying this platform to develop novel cell therapies addressing musculoskeletal, autoimmune, cancer immunotherapy, ocular and respiratory diseases. Mogrify has grown rapidly since appointing Dr Darrin Disley, the former chief executive of Horizon Discovery Group and one of the best-known
faces on the Cambridge life science scene, as its CEO earlier this year. The new funding will help it increase the headcount at its Cambridge Science Park headquarters from 20 to 60. Dr Disley said: “I am delighted we have been able to make an initial close of this fundraising round, with the backing of both existing and new investors. Due to the significant interest, we have been able to secure this growth funding without engaging in a protracted and distracting fund- raising process. “Having now raised over $20m, we can focus on delivery of our business strategy with the support of an aligned investor group. We will continue to engage with high-calibre investors with computational biology and cell therapy domain expertise as part of our on- going investor relations and capital markets strategy.”
Ahren is a fund started by a group of leading scientific entrepreneurs, including several with strong links to Cambridge, to back breakthroughs in life science and deep tech. Alice Newcombe-Ellis, founder and managing partner at Ahren, said: “Mogrify’s technology is well positioned to disrupt the global cell therapy market. It’s grown rapidly since February, appointing a world-class management team and delivering strongly against its business plans. We look forward to supporting Mogrify as it goes from strength to strength.” Parkwalk, 24Haymarket and the University of Bristol Enterprise Fund also contributed to the funding round. Newcombe-Ellis and Alastair Kilgour, the chief investment officer at Parkwalk, have joined Mogrify’s board of directors with Dr Karin Schmitt, the company’s chief business officer.
BELOW The Mogrify
management team outside Cambridge Science Park HQ
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