Mission BioCapital Announces 2024 Platinum Ticket Investments and Opening of $4 Million 2025 Platinum Program Contest

— Up to 8 winners to receive up to $500,000 each in pre-seed funding, incubator
space, equity for discovery services, and expert mentorship—

CAMBRIDGE, Mass., April 7, 2025 /PRNewswire/ -- Mission BioCapital (MBC), in partnership with sponsors Eli Lilly and Company (Lilly), Ono Venture Investment (OVI), Alloy Therapeutics, and our newest sponsor, HitGen, announced today that applications are open internationally for the 2025 Platinum Program. MBC's Platinum Program aims to advance high-potential life sciences start-up companies by providing pre-seed funding, global laboratory space, expert mentorship, and discovery services to accelerate their launch and initial development. Early-stage biotechnology innovators from around the globe are invited to apply.

"Since we launched the Platinum Program three years ago, our program has championed 16 exceptional early-stage founders, awarding a total of $7.5 million in pre-seed funding and providing pivotal support to accelerate the transformation of groundbreaking ideas into medical breakthroughs," said Jennifer Griffin, Ph.D., Partner, Mission BioCapital. "We eagerly anticipate this year's visionary candidates and encourage early-stage biotechnology innovators from around the globe to apply."

Mission BioCapital also announced today the following eight winners of the 2024 Mission BioCapital Platinum Program, deploying a total of $4 million and providing incubator space and mentorship, in partnership with Lilly and OVI:

Aperture Therapeutics, based in MBC BioLabs, San Carlos, CA, is developing a new class of medicines that mimic protective gene variants found in resilient individuals to treat neurodegeneration. The company's lead drug candidates are oligonucleotides aimed at reversing chronic neuroinflammation in amyotrophic lateral sclerosis (ALS) and frontotemporal dementia (FTD). The team is also building an in vitro platform to evaluate the impact of diverse human genetics on drug efficacy.

D2B3, based in BioLabs, New Haven, is a Yale spinout developing therapeutics to transiently relax the blood-brain barrier for drug delivery to the central nervous system.

Deck Bio, based in LabCentral in Cambridge, MA, is developing optimal multi-specific biologics for driving durable efficacy and safety in solid tumors using its proprietary drug discovery platform.

Epitome Therapeutics, based in BioLabs, Heidelberg, Germany, is developing an epigenome editing platform that enables precision tuning of targeted gene expression to reverse cellular dysfunction and disease.

Merge Therapeutics, based in MBC BioLabs, San Carlos, CA, is developing trispecific antibodies for deep depletion of pathogenic cells in autoimmune disease.

PHAME, based in BioLabs, Heidelberg, Germany, is developing a platform that rapidly drugs membrane proteins.

Rho Bio, based in BioLabs, New Haven, is developing therapies to restore lymphatic function, building on discoveries from Yale and WashU. The company's initial focus is on treating neuro-ophthalmic diseases caused by fluid and pressure buildup.

Verto Therapeutics, based in Cambridge, MA, is developing small molecule translation inhibitors for oncology, advancing programs against Myc and other hard-to-drug targets.

"We are very pleased to continue our Platinum Program partnerships this year with Lilly, Ono Venture Investment, and Alloy Therapeutics and to welcome our newest partner, HitGen," said Steve Tregay, Ph.D., Managing General Partner, Mission BioCapital. "The Mission BioCapital Platinum Program is dedicated to identifying and accelerating biotechnology innovation, no matter where in the world it takes place, with the goal of turbocharging advancements in human health."

The 2025 Platinum Program will award each of up to eight winning start-ups, including at least two European companies, with:

• A guaranteed lab bench in one of MBC's 24 affiliated incubators located in the U.S. and Europe
• Up to $500,000 of pre-seed capital from MBC, Lilly, and OVI
• Drug discovery services from Alloy Therapeutics and HitGen to enable companies with a derisked path to lead candidate
• General counsel, intellectual property, and accounting services from Goodwin, NMB IP, and van den Boom & Associates
• Strategic scientific and business development mentorship from experts at Lilly, OVI, Alloy Therapeutics, MBC, HitGen, and other companies across MBC's corporate network

MBC will be accepting applications between April 1 and May 14, 2025, and winners will be announced in Summer 2025. To apply, please visit: www.missionbiocapital.com/platinum-program. Only non-confidential information will be required for application.

"Developing a biotechnology discovery into a commercial product is a complex process. We are excited to join the Mission BioCapital Platinum Program sponsorship consortium to help worthwhile biotechnology start-ups access foundational technologies that enable the discovery and optimization of small molecules and nucleic acid drugs," said Jin Li, Chairman and CEO, HitGen Inc.

About the Mission BioCapital Platinum Program
Mission BioCapital (MBC) established the Platinum Program in 2022 to enable entrepreneurs with breakthrough technologies from diverse backgrounds to quickly launch new companies. Platinum Program winners receive guaranteed laboratory space at MBC's partner incubators in the U.S. and Europe, access to world-class experts, lead candidate-enabling drug discovery services, and seed capital to quickly develop scientific data needed to obtain subsequent funding rounds. The program invites innovators from around the world, including academic scientists, to submit breakthrough biomedical innovations that have the potential to advance patient care. In its first three years, the Mission BioCapital Platinum Program has awarded a total of $7.5 million, incubator space, and business mentoring to 16 life sciences companies located in two countries and three U.S. states. For more information about the Mission BioCapital Platinum Program, please, visit www.missionbiocapital.com/platinum-program.

About Mission BioCapital
Mission BioCapital is a venture capital firm focused on making pivotal early-stage investments in life sciences companies. We support our portfolio companies through a unique combination of shared lab space, capital investment, and access to strategic partners. With offices in the nation's leading life sciences clusters in Cambridge, MA and San Francisco, Mission BioCapital is dedicated to helping entrepreneurial scientists build successful companies, from idea to exit. Learn more at missionbiocapital.com.

Contact:
Mary Moynihan
M2Friend Biocommunications
+1 (802) 951-9600
[email protected]

SOURCE Mission BioCapital