Mighty Therapeutics secures up to $150 million financing
US commercial-stage biotech Mighty Therapeutics today announced the closing of transactions securing up to $150 million in non-dilutive growth and equity capital.
The company, which is pioneering a new class of medicines that directly target mitochondrial dysfunction in rare and age-related diseases, has entered into an agreement with K2 HealthVentures (K2HV), an alternative investment firm that provides flexible, long-term financing solutions in life sciences and healthcare, to provide a credit facility of up to $125 million, including an initial $30 million tranche. The company has also held an initial closing of its Series B financing, in which founding investor Morningside has invested $25 million.
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