Swiss Biotech company Mosanna Therapeutics AG has secured seed extension funding as it prepares to submit an Investigational New Drug (IND) application for MOS-118, under development for the treatment of obstructive sleep apnea.
MOS-118 is an advanced small molecule formerly known as AVE0118, initially developed by Sanofi.
The funding was secured from Supermoon Capital, a US-based venture capital fund specializing in sleep, and High-Tech Grunderfonds, a German investment firm. The duo joins founding investor Forty51 Ventures to complete the seed stage investment syndicate.
Founded in 2022, Mosanna has established a specialist core team and an advisory board and is on track to submit an IND by the end of 2023. The company will utilize the funds for manufacturing and regulatory activities in preparation for a multi-study clinical development program.
“We are extremely pleased with the data we are seeing in the lab, and the technical performance of the product and this additional financing is testament to the potential the team sees for this to translate into significant clinical benefit for sleep apnea patients,” says Jonathan Talbot, PhD, co-founder and CEO of Mosanna, in a press release.
Commenting on the investment, Laura Pedroza, investment manager at High-Tech Grunderfonds, says in a press release, “This is a new frontier for sleep apnea, and we are absolutely confident Mosanna will successfully develop MOS-118 and redefine standard of care. We are incredibly excited for Mosanna’s truly novel therapeutic approach to enter the clinics early in 2024.”
Mosanna was co-founded by Forty51 Ventures and Talbot, also CEO of Forty51 Ventures.