The impact of investing in this technology goes far beyond financial return as it opens the door to expanding therapy options, and delivers life-enhancing solutions for people who are battling cancer.
SALT LAKE CITY (PRWEB) October 23, 2018
Mountain Pacific Venture Fund announced today its investment in Decoy Biosystems, a San Diego, California-based cancer immunotherapy company that was recently accepted into the Johnson & Johnson Innovation, JLABS (JLABS) life science incubator. The investment was part of a $6.0 million seed round syndicated with TY BIO Investment, Inc., a California-based wholly-owned subsidiary of Tongyang Networks, a South Korean KOSPI-listed company, and angel investors. These funds will help Decoy advance its breakthrough technology for unresectable or metastatic solid tumors and lymphoma.
The funding comes from Utah-based Mountain Pacific Venture Fund (MPVF), which partners with early-stage life science and biotech companies that have the potential for high growth and significant impact on healthcare outcomes. As part of the fund portfolio, Decoy Biosystems benefits from strategic consulting, operational expertise, and access to an international network of public, private, academic and industry advisors.
“The impact of investing in this technology goes far beyond financial return as it opens the door to expanding therapy options, and delivers life-enhancing solutions for people who are battling cancer,” said MPVF Managing Partner June Chen, M.D. “Decoy Biosystems is poised to transform the treatment landscape for patients with solid tumors and lymphoma with a novel, potentially best-in-class cancer immunotherapy.”
With this investment, Decoy Biosystems will advance preclinical development of its lead candidate in preparation for an investigational new drug application and clinical trials.
About Mountain Pacific Venture Fund
Mountain Pacific Venture Fund invests in early-stage life science and biotech companies, with a geographic emphasis on the Mountain West and South Korea. The fund was founded with the purpose of investing critical, catalytic capital into companies with the potential to generate meaningful societal impact, aligning the triple bottom line with the quadruple aim of high-value healthcare delivery. For more information, visit http://www.mountainpacificfund.com.
About Decoy Biosystems
Decoy Biosystems is a biotechnology company developing a novel and potentially best in class, multiple Toll-like receptor (TLR) agonist-based cancer immunotherapy. Decoy is dedicated to enhancing the expanding curative cancer immunology for patients with unresectable or metastatic solid tumors and lymphomas, which are responsible for approximately 90 percent of all cancer deaths.
About TY BIO Investment
TY BIO Investment, Inc., is a California-based, wholly owned subsidiary on Tongyang Networks, Co., Ltd., a South Korean KOSPI-listed company. TY BIO Investment focuses on early-stage companies targeting therapeutic areas with high unmet medical need and realizable, attractive pricing segments, such as oncology/immuno-oncology, CNS, a rare diseases and diagnostic tools/services.