9:04 AM
Oct 05, 2018
 |  BioCentury  |  Finance

Modis’ mitochondrial modification

How early clinical data enabled Modis to raise $30M series A for mitochondrial program

Compassionate use data from its lead program enabled rare genetic disease company Modis Therapeutics Inc. to attract $30 million in series A funding co-led by F-Prime Capital Partners and OrbiMed Advisors.

Founding investor Aceras Life Sciences and new investor Osage University Partners also joined the round, which closed on Oct. 1.

Modis’ lead compound MT1621, an oral combination of deoxynucleosides, is being developed to treat thymidine kinase 2 (TK2) deficiency, a mitochondrial DNA (mtDNA) depletion disorder characterized by progressive, severe muscle weakness. The age of...

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