News-20220606

----------From the company's press release----------

Tokyo, Japan – LUCA Science, a global innovator in the development of a novel class of mitochondria biopharmaceutical agents, today announced the closing of a ¥3.86 billion (USD 30.3 million) oversubscribed Series B financing. The round was co-led by DCI Partners, 4BIO Capital 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.  

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.

“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, Philippe Fauchet of 4BIO Capital, Tai Harada of Fast Track Initiative, and Shuntaro Kodama of DCI Partners will join LUCA Science’s Board of Directors.