4BIO Capital co-directs $30.3 million (3.86 billion yen) oversubscribed Series B financing in science LUCA
- Funding reflects the potential of mitochondrial therapy to restore cellular bioenergetics in dysfunctional or damaged tissues and organs
- Investment Brands 4BIO Capital is the first in Japan to has been identified by the fund as a heart strategic innovation market investment
June 6, 2022
LONDON & TOKYO – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm focused solely on the advanced therapeutics industry, announces that it has co-led a $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 new class of mitochondrial biopharmaceuticals.
The round was co-led by 4BIO Capital alongside DCI Partners and existing investor Fast Track Initiative and backed 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.
This investment is 4BIO Capital’s first 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 assess the vast investment opportunities in this innovation-rich market.
LUCA Science is at the forefront of a new class of mitochondrial therapy to restore cellular bioenergy to dysfunctional or damaged tissues and organs. Funds from this round will be used to accelerate research and development of the company’s proprietary pipeline in preparation for IND submission. Additionally, LUCA Science is rapidly advancing its existing pipeline to target additional therapeutic areas in collaboration with leading academic and industry partners. Proceeds from the funding will also be used to establish a robust manufacturing system based on its proprietary Mitochondrial Isolation Technology (MIT) platform, a novel method for isolated mitochondria that are intact, shelf-stable and highly functional as a biopharmaceutical agent. of controlled quality.
Kieran Mudryy, Partner at 4BIO Capital, commented: “Representing our first investment in Japan, LUCA Science aligns with our philosophy at 4BIO Capital to encourage new and potentially game-changing treatment modalities in various indications of high unmet need. We are delighted to have our Venture Partner Philippe Fauchet, OBE, join the board of directors of LUCA Science. Japan continues to present an important center of scientific research and development from which cutting-edge innovation continues to emerge and we continue to seek multiple opportunities in this exciting market.
“We have assembled a syndicate of world-class investors, both in Japan and abroad, who share our vision of creating a new class of modalities using mitochondria to address a range of unmet medical needs. “, said dr. Rick C. Tsai, CEO of LUCA Science.
“This significant funding round will further invest 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 brings 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 the board of directors of LUCA Science alongside Tai Harada of Fast Track Initiative and Shuntaro Kodama of DCI Partners.
Philip ScytheOBE, Venture Partner at 4BIO Capital, knowD: “LUCA Science has all the necessary ingredients to be an international success: it has the science, an international team and the fantastic support of experienced investors. Having operated in Japan for many years, I have witnessed the strength of cell and gene research in the country and am delighted to help realize its potential through this investment. We are proud to support LUCA Science, alongside Japanese investors DCI Partners and Fast Track Initiative, as it takes the next transformative steps in its journey.
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About 4BIO Capital
4BIO Capital (“4BIO”) is an international venture capital firm focused solely on the advanced therapies sector.
4BIO’s goal 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 therapies potentially healing for all patients. Specifically, he seeks viable, high-quality opportunities in cell and gene therapies, RNA-based therapy, targeted therapies, and microbiome.
The 4BIO team includes leading scientists in advanced therapies and experienced life science investors who have collectively published more than 250 scientific papers in prestigious academic journals, including Nature, The Lancet, Celland the New England Journal of Medicine. 4BIO has both an unparalleled network in the advanced therapies sector and a unique understanding of the criteria that define a successful investment opportunity in this space.
For more information, connect with us on LinkedIn and Twitter @4biocapital and visit www.4biocapital.com.
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 powerhouses of our cells that produce energy for our body. LUCA Science will use its technology platform to manufacture, store and deliver innovative mitochondrial drugs to research and develop therapies for unmet medical needs in a wide range of diseases for which there are no effective treatments.