Mosaic Therapeutics closes $28m series A funding and appoints Brian Gladsden as CEO
Company developing targeted oncology therapies spun out of world-leading research at the Wellcome Sanger Institute, in collaboration with the Netherlands Cancer Institute
Syncona and Cambridge Innovation Capital invested
Former Novartis SVP appointed as CEO to drive growth ambitions
Cambridge, UK, 4 April 2023 – Mosaic Therapeutics, Ltd, (‘Mosaic’, or ‘the Company’) an oncology therapeutics company dedicated to resolving cancer’s complexity to power new treatments for patients, today announced the close of its $28 million series A funding round. The Company also announces the appointment of former Novartis Oncology SVP Brian Gladsden as CEO. The investment in this round was raised from Syncona Investment Management, Ltd, and Cambridge Innovation Capital.
The Series A funding will be used to further advance Mosaic’s pipeline of targeted oncology therapies for biomarker-stratified populations, progressing its lead programmes through preclinical development to IND-enabling studies. The funds will also support recruitment efforts, building the Company’s senior leadership, experimental biology, and computational teams.
Mosaic’s use of advanced computational methods, while combining mining of large datasets with experimental approaches to identify and develop novel targeted therapies, completely reinvents the traditional approach to target and drug discovery. The Company’s bespoke relationship with the Wellcome Sanger Institute provides it unique access to deep scientific expertise, infrastructure, and biological assets.
Brian Gladsden joins Mosaic as CEO following a 25-year career in biopharmaceuticals, including 5 years with Bayer AG and 15 years with Novartis Oncology, where he was Senior Vice President and a member of the Worldwide Leadership Team, with responsibility for global commercialisation and strategy for the portfolio. Mr Gladsden has held various leadership positions, including country CEO, leading cancer therapeutic development and commercial launch across the US, Europe, Australia, South Korea and Japan.
Mosaic’s proprietary platform applies research from co-founder Dr Mathew Garnett’s Translational Cancer Genomics Laboratory at the Wellcome Sanger Institute. Dr Garnett is a Senior Group Leader at Sanger with over 20 years’ experience in genomics and cancer therapeutics, with past achievements including co-discovery of BRAF mutations in cancer and Werner Syndrome helicase as a target in MSI tumours.
Brian Gladsden, CEO, Mosaic Therapeutics, commented: “I believe that Mosaic is ideally positioned to resolve the complexity of cancer, to discover and develop targeted therapies that address areas of high unmet need. The people, platform, connection to a world-leading genomics research institute, and strong investor partnerships are truly best in class.
To receive funding from such high calibre investors is testament to the potential of Mosaic’s technology and multidisciplinary team, as well as the exceptional support provided by the Wellcome Sanger Institute.”
Alongside Dr Garnett, the Company was co-founded by Professor Emile Voest and Dr Adrian Ibrahim. Professor Voest is Professor of Medical Oncology, Chairman of the Board of Cancer Core Europe, Group Leader at the Netherlands Cancer Institute and Oncode Institute, and Independent Director of the Board of Sanofi S.A. Dr Ibrahim was formerly Head of Technology Translation at the Wellcome Sanger Institute, has 30 years’ experience across the discovery and development of cancer and genomics technologies, and has been involved in multiple genomics company spin-outs.
Dr Mathew Garnett, co-founder of Mosaic Therapeutics, added: “Mosaic is ready to lead the next wave of treatments for cancer, through the discovery of effective targeted therapies in molecularly-defined patients. Cancer is a complex disease and our platform, combining large-scale screening in advanced cancer models and cancer big data, gives Mosaic unprecedented clarity and insights. With high calibre investors, an experienced CEO, and solid scientific foundations, we’re building an exceptional team to deliver on our vision to develop safer and more effective medicines.”
Magdalena Jonikas, Lead Partner at Syncona Investment Management Limited and Director of Mosaic, said: “The unprecedented insights provided by the genomic revolution have enabled more targeted drug development, with drug targets being de-risked by genetics or data. This approach to drug discovery is a focus for us at Syncona and Mosaic is a great example of a company built around this concept. With a differentiated strategy that can accelerate entry to the clinic, and the potential for application in a number of oncology settings in cancers which have previously been difficult to treat, we are excited for the potential of this platform. The opportunity for the Company, and most importantly for patients, is significant. I am thrilled that Brian has joined Mosaic to lead the next stage of the Company’s growth, and look forward to building this business in partnership with its world-class team.”
Anne Horgan, Partner at Cambridge Innovation Capital and Director of Mosaic, said: “We are delighted to invest in Mosaic Therapeutics, backing our third spin out from the Wellcome Sanger Institute, and welcome Brian, a seasoned oncology executive, to the team. Mosaic’s use of advanced computational methods, while combining large dataset mining and experimental approaches to identify and develop novel therapies is unique, and completely reinvents the traditional approach to target and drug discovery. Cambridge (UK) is a globally important hub for biotechnology and life sciences, and Mosaic is a great example of innovation in the ecosystem.”
Mosaic is the most recent spin-out company from the Wellcome Sanger Institute, a world leader in genome research, with notable achievements including being the single largest contributor to the Human Genome Project, co-founding the International Cancer Genome Consortium, and identifying specific BRAF mutations that underpinned a new class of transformational targeted cancer therapeutics.
Learn more about Mosaic’s approach to genomics-guided oncology medicine: (https://mosaic-tx.com/)
Brian Gladsden, CEO,
Dr Mathew Garnett, co-founder,
Syncona Investment Management Ltd
Cambridge Innovation Capital
T: +44 (0) 7787 502 947
CEO, Mosaic Therapeutics
About Mosaic Therapeutics (www.mosaic-tx.com)
Mosaic Therapeutics is an oncology therapeutics company using advanced computational methods and next-generation cancer models to discover and develop novel targeted therapies. The company’s main mission is to tackle cancers with substantial unmet need by reinventing the traditional approach to target and drug discovery.
Born out of pioneering research at the Wellcome Sanger Institute in collaboration with the Netherlands Cancer Institute, and anchored around a proprietary platform that has seen 20 years of fine-tuning and development, Mosaic has active programmes across a variety of oncology indications and disease biology pathways.
About Syncona (www.synconaltd.com)
Syncona's purpose is to invest to extend and enhance human life. We do this by creating and building companies to deliver transformational treatments to patients in areas of high unmet need.
Our strategy is to create, build and scale companies around exceptional science to create a diversified portfolio of 20-25 globally leading healthcare businesses for the benefit of all our stakeholders. We focus on developing treatments for patients by working in close partnership with world-class academic founders and management teams. Our balance sheet underpins our strategy enabling us to take a long-term view as we look to improve the lives of patients with no or poor treatment options, build sustainable life science companies and deliver strong risk-adjusted returns to shareholders.
About Cambridge Innovation Capital (www.cic.vc)
Cambridge Innovation Capital (CIC) is a leading venture investor backing and building category-leading deep tech and life sciences companies. CIC currently manages in excess of £0.5 billion and has invested in around 40 companies. CIC is a preferred investor for the University of Cambridge, Europe’s top source of founders for venture-backed start-ups.
Cambridge Innovation Capital Manager Limited (FRN:918898) is authorised and regulated by the Financial Conduct Authority. For more information, please visit http://www.cic.vc or follow us on Twitter at @CIC_vc and LinkedIn.