Biovance Capital and co-investors have announced a Series A funding round for Portuguese startup Mondego Bio, focusing on the development of innovative PTPN2 inhibitors for cancer treatment.

Information on the Target

Mondego Bio is an emerging Portuguese startup dedicated to developing innovative cancer treatments. The company specializes in the creation of protein tyrosine phosphatase non-receptor type 2 (PTPN2) inhibitors, which represent a promising advancement in immuno-oncology with enhanced safety and tolerability profiles. Mondego Bio is headquartered in Biocant, Portugal's leading biotech park, and has garnered significant backing from notable investors.

This investment marks a pivotal moment for Mondego Bio as it aligns with Biovance Capital Fund I’s inaugural investment, further solidifying the company’s potential to reshape cancer treatment.

Industry Overview in Portugal

Portugal's biotechnology sector is experiencing a notable surge, supported by rising investment in research and development. The country boasts a unique ecosystem fostering innovation through collaboration between