Biovance Capital Secures Series A Funding for Mondego Bio's Innovative Cancer Treatments

In an exciting development for the biotechnology sector, Biovance Capital Partners, a venture capital firm headquartered in Lisbon, has successfully led Series A financing for Mondego Bio, a burgeoning startup dedicated to revolutionizing cancer treatment. The announcement was made on September 18, 2025, and marks a significant milestone for both Biovance Capital and Mondego Bio as they strive to make strides in the field of cancer immunotherapy.

Mondego Bio, situated in the Biocant biotech park in Portugal, specializes in the development of cutting-edge inhibitors targeting protein tyrosine phosphatase non-receptor type 2 (PTPN2). This novel approach presents a potential game-changer for immuno-oncology therapies, aiming to enhance the effectiveness and safety of cancer treatments. The increasing incidence of cancer and the pressing need for more effective therapies have made such innovations critical.

Biovance Capital partners with renowned organizations, OrbiMed and Torrey Pines Investment, who contribute their extensive expertise and resources to the funding round. OrbiMed is a prominent healthcare investment firm managing over $17 billion in assets and has a track record of supporting transformative innovations in the biotech sector. Torrey Pines Investment brings a focused interest in breakthrough medicine to the collaboration, strengthening the potential for Mondego Bio's groundbreaking research to lead to remarkable advancements in cancer therapy.

The Science Behind PTPN2 Inhibitors

PTPN2 has been identified as a crucial negative regulator within the JAK-STAT signaling pathway, which plays a vital role in how cells respond to hormonal and immune signals. Inhibiting PTPN2 can enhance the body's response to these signals, particularly increasing sensitivity to IFNγ, an important cytokine in cancer immunotherapy. By targeting PTPN2, Mondego Bio aims to create therapies that can potentially improve outcomes for patients undergoing cancer immunotherapy, a goal that aligns with their mission to address unmet medical needs.

Biovance Capital’s Managing Partner, Ricardo Perdigão Henriques, emphasized that this represents the inaugural investment by Biovance Capital Fund I which is dedicated to supporting innovations that have the potential to address critical gaps in medical science. He expressed excitement about collaborating with top-tier U.S. healthcare investors to accelerate the development of safer and more effective treatments for cancer patients.

A Boost for the Portuguese Biotech Scene

Mondego Bio's investment highlights the potential of Portugal as an emerging hub for biotech innovations. The fund aims to attract world-class scientists and investors to contribute to the local biotech ecosystem, showcasing the capabilities of Portuguese talent in life sciences. João Incio, a General Partner of Biovance Capital, added that partnerships like these could lead to potentially transformational therapies that ultimately enhance patient outcomes.

With this financing round, Mondego Bio is poised to advance its clinical programs that were initially developed from research by Eilean Therapeutics, a company that leverages artificial intelligence and machine learning to drive discoveries in oncology. The collaboration underscores the importance of innovative scientific research paired with targeted investments in the field of cancer treatment.

Future Directions

As Mondego Bio embarks on refining its PTPN2 inhibitor therapy for clinical use, it symbolizes a beacon of hope not just for investors but for the countless patients battling cancer who are desperate for more effective treatments. The partnership between Biovance Capital, OrbiMed, and Torrey Pines reflects a global commitment to elevate healthcare and introduce novel therapeutic solutions.

The future looks promising for Mondego Bio and the cancer treatment landscape, as their work could potentially reshape how current immunotherapies function and prove invaluable in the ongoing fight against cancer.