4BIO Capital co-leads $30.3 million (¥3.86 Billion) oversubscribed Series B financing in LUCA Science
- Financing reflects the potential of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs
- Investment marks 4BIO Capital’s first in Japan which has been identified by the fund as a core strategic market for innovation investment
6 June 2022
LONDON & TOKYO – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced therapies sector, announces that has co-led a USD 30.3 million (¥3.86 billion) oversubscribed Series B financing in LUCA Science Inc. (“LUCA Science” or “the Company”), a global innovator in the development of a novel class of mitochondria biopharmaceutical agents.
The round was co-led by 4BIO Capital alongside DCI Partners and existing investor Fast Track Initiative and supported by an international syndicate of existing investors including Remiges Ventures and Nippon Venture Capital Co, and new investors including Nissay Capital Asahi Kasei Pharma, QB Capital/ NCB Venture Capital and SMBC Venture Capital.
The investment marks the first by 4BIO Capital in Japan, where the Group has established a growing presence through its partnership with Kyowa Kirin, which made a strategic investment in 4BIO’s Ventures II LP Fund, and led by Venture Partner Philippe Fauchet, OBE. 4BIO continues to evaluate the extensive investment opportunities in this innovation-rich market.
LUCA Science is pioneering a new class of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs. The funds from this round will be used to accelerate the research and development of the company’s proprietary pipeline toward IND submission. In addition, LUCA Science is rapidly advancing its existing pipeline with a view to target additional therapeutic areas in collaboration with leading academic and industry partners. Proceeds from the financing will also be used to establish a robust manufacturing system based on its proprietary Mitochondrial Isolation Technology (MIT) platform, a novel method for intact, shelf-stable and highly functional isolated mitochondria as a quality-controlled biopharmaceutical agent.
Kieran Mudryy, Partner at 4BIO Capital, commented: “Representing our first investment in Japan, LUCA Science aligns with our ethos at 4BIO Capital to encourage novel treatment modalities that could become game-changers in various indications of high unmet need. We are delighted that our Venture Partner Philippe Fauchet, OBE, will be joining the Board of LUCA Science. Japan continues to present a significant hub of scientific research and development from which cutting-edge innovation continues to emerge and we continue to look at multiple opportunities in this exciting market.”
“We have assembled a world-class syndicate of investors both in Japan and internationally, who share our vision of creating a novel class of modality using mitochondria to address a range of unmet medical needs,” said Dr. Rick C. Tsai, Chief Executive Officer of LUCA Science.
“This significant financing round will enable further investment in our CMC capabilities and help us accelerate our research and development activities to bring the possibility of mitochondria closer to patients. This marks a key moment for the company and moves us one step closer to our goal of becoming the world leader in mitochondria therapy.”
Following the closing of the financing, Phillipe Fauchet of 4BIO Capital will join LUCA Science’s Board of Directors alongside Tai Harada of Fast Track Initiative and Shuntaro Kodama of DCI Partners.
Philippe Fauchet, OBE, Venture Partner at 4BIO Capital, said: “LUCA Science has all the right ingredients to be an international success: it has the science, international team, and fantastic support from experienced investors. Having operated in Japan for many years, I have witnessed the strength of the country’s cell and gene research and I am excited to help realise its potential through this investment. We are proud to be supporting LUCA Science, alongside Japanese investors DCI Partners and Fast Track Initiative, as it takes the next transformational steps in its journey.”
– End –
|4BIO Capital||+44 (0)20 3427 5500
|Consilium Strategic Communications
Amber Fennell, Allison Connolly, Genevieve Wilson
|+44 (0) 20 3709 5700
About 4BIO Capital
4BIO Capital (“4BIO”) is an international venture capital firm focused solely on the advanced therapies sector.
4BIO’s objective is to invest in, support, and grow early-stage companies developing treatments in areas of high unmet medical need, with the ultimate goal of ensuring access to these potentially curative therapies for all patients. Specifically, it looks for viable, high-quality opportunities in cell and gene therapy, RNA-based therapy, targeted therapies, and the microbiome.
The 4BIO team comprises leading advanced therapy scientists and experienced life science investors who have collectively published over 250 scientific articles in prestigious academic journals including Nature, The Lancet, Cell, and the New England Journal of Medicine. 4BIO has both an unrivalled network within the advanced therapy sector and a unique understanding of the criteria that define a successful investment opportunity in this space.
About LUCA Science Inc.
LUCA Science is a preclinical stage biopharmaceutical company pioneering a new class of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs. Mitochondria are the power plants in our cells that produce energy for our bodies. LUCA Science will use its platform technology to manufacture, store and deliver innovative mitochondrial drugs to research and development of therapeutics for unmet medical needs in a wide range of diseases for which there have been no effective treatments.
The content is by GlobeNewswire. DKODING Media is not responsible for the content provided or any links related to this content. DKODING Media is not responsible for the correctness, topicality or the quality of the content.