Mobius Therapeutics Announces $3 Million Series B Funding to Accelerate Adoption of Mitosol
Mobius Therapeutics, LLC, announced a $3 million Series B round of financing led by capital firm Cultivation Capital. Mobius developed and sells Mitosol, a prepackaged kit containing mitomycin C for glaucoma surgery. According to the company, Mitosol improves the occupational safety of surgeons and hospital staff, provides a consistent and assured formulation for each patient, improves convenience, and is more cost-effective for hospitals and patients. Mitosol is the first and only formulation of mitomycin C specifically approved for ophthalmic use.
This latest round of funding brings Mobius’ Series B total to $5 million and reportedly enables the company to increase its commercial sales team and reach more doctors and patients nationwide.
“This financing marks the advent of the next phase of Mobius Therapeutics,” Ed Timm, president and CEO of Mobius, said in a news release. “Having achieved critical regulatory, commercial, and market milestones, this investment will allow Mobius to accelerate the adoption of Mitosol, thereby improving convenience, occupational safety, consistency of patient treatment, and economics for patients, providers, and ophthalmologists.”