Seatle Based Biotech Startup, Mozart Therapeutics, Raises $55 Million in Series A Funding Round
Mozart Therapeutics in Series A, led by ARCH Venture Partners along with Sofinnova Partners raises $55 million.
Mozart Therapeutics has secured $55 million in a Series A funding round. The startup is about one year old and it is focused to quell overactive immune responses in celiac disease and other conditions. It is realized by the founders, who have good experience in the medical field, that there is a dire need for quality research on different immune system diseases. These funds are secured to develop therapies for different immune diseases and celiac disease. This also includes type 1 diabetes that has witnessed a surge in its identification in recent times.
Mozart Therapeutics is a Seatle Based biotech startup. ARCH Venture Partners along with Sofinnova Partners led the Series A funding round. However, there were some other backers present as well. These backers included MRL Ventures Fund from Merck, Leaps by Bayer, and Eli Lilly & Company.
The leadership of the startup includes CSO Kristine Swiderek, previously senior VP of research at Alpine Immune Sciences, and Courtney Crane, VP of discovery and translational science. It is important to note that both of them have worked at upper-level positions in the same field.
The current headcount of the startup is 13. However, the leadership plans to use this funding to expand its research arms and increase the employees, especially in the product development team.
“This kind of drug investment reflects the tremendous interest on the part of pharma for novel targets and novel ways to address the unmet needs that still exist in autoimmune disease,” said CEO Fanning.
The increasing interest of investors in pharmaceutical and biotech startups has become vivid. Seattle and South San Francisco-based Sonoma is a big example of it which raised $265 million in the last summer. It also depicts the fact that research in the healthcare sector is becoming the need of the hour.
The digital solutions in the health care sector to further strengthen the research process are proving very helpful. The application of Big Data in the healthcare sector enables the authorities to have clear and incisive insights. Moreover, the outbreak of pandemic pushed the authorities and healthcare companies to rethink their priorities and devise custom healthcare software solutions. These custom software solutions are empowered with AI, ML, Cloud computing, and other such emerging technologies.