Mission Therapeutics, a clinical-stage biotechnology company, has raised $13.3m to advance the clinical development of its lead Parkinson’s disease (PD) candidate, MTX325, into a phase 1b proof-of-mechanism study.
The clinical development of MTX 325 is further supported by a $5.2m grant from the Michael J. Fox Foundation and Parkinson’s UK.
MTX325 is a first-in-class USP30 inhibitor that targets mitochondrial dysfunction, which has been linked to PD pathophysiology.
Supporting preclinical data, published in Nature Communications in November 2023, and authored by Mission Therapeutics scientists alongside researchers from Cambridge University, Harvard University and the University of Dundee, demonstrated that USP30 inhibition reduced biomarkers associated with PD.
Recently completed phase 1a studies in healthy volunteers confirmed that MTX325 achieves sufficient penetration into functional brain tissue.
The additional funding will enable Mission Therapeutics to initiate phase 1b proof-of-mechanism studies in patients with PD.
The study is due to start in early 2026, as the company has already received regulatory approval from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA).
Results are expected in 2027, with intellectual property exclusivity continuing until 2041.
Anker Lundemose, executive director at Mission Therapeutics, said: “Thanks to this additional $13.3m from our investors, we can now make the next vital steps progressing MTX325 into PD patients with this essential phase 1b clinical trial.
“This will enable us to build upon the compelling preclinical data package for MTX325, published in Nature Communications in 2023, and the results from the phase 1a studies that we have obtained.”
The financing round was led by current investors, including Pfizer Venture Investments, Sofinnova Partners, Roche Venture Fund, SR One, IP Group and Rosetta Capital.