At Mission Bio, we’re committed to improving cancer research and care, supporting the development of more precise, impactful therapies and, ultimately, saving patients’ lives. We have an established history of advancing oncology with single-cell multi-omics analysis, and today we’re honored to take that commitment even further with $70 million in Series C funding.
Great strides have been made in the fight against cancer. However, there are still critical impediments to progress: only 3% of cancer drugs tested in clinical trials between 2000 and 2015 have been approved to treat patients, and even those that have been approved are not as effective as we’d hope. Of the $60 billion spent on drug development annually, it’s safe to say that $50 billion is wasted, with only 1 of 10 drugs advancing to market.
That’s where we come in. The Tapestri® Platform is the first-ever single-cell multi-omics platform capable of detecting DNA and protein changes simultaneously from the same cell. With this insight, we can see the past, present, and future of each person’s cancer — determine how it evolved, see a snapshot of it in time, and begin to predict treatment response to help develop new therapeutic approaches aimed at preventing disease evolution and relapse.
While the world directs all attention and resources at fighting COVID-19, research into preventative care, health monitoring, and a cure for cancer has taken a back seat. The hard truth is that cancer is not sheltering in place, and at the end of this, we’re going to see increased late-stage cancer cases and mortality rates.
We are on a mission to help our customers eliminate cancer. Over the past year, we have significantly advanced our efforts to support drug development through clinical trials and the translation of research into novel biomarkers, as demonstrated by our ongoing work with NCI cancer centers and leading biopharma companies. With support from Novo Growth, Soleus Capital, Mayfield, Cota Capital, Agilent, and Labcorp, we’re able to scale the Tapestri Platform to expand our support of clinical trials for novel cancer treatments, as well as characterization for cell and gene therapy.
At Mission Bio, we envision a world with a different relationship to complex diseases like cancer: a world where cancer is manageable, even curable. With this latest capital, we’re on track to make that vision a reality.