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Good Therapeutics raises $11M to develop ‘context dependent’…

Good Therapeutics CEO John Mulligan. (Good Therapeutics Photo)

Seattle biotech startup Good Therapeutics raised another $11 million to create “context dependent” protein drugs that act only when needed.

The 4-year-old company is developing cytokines that regulate their own activity in response to biomarkers and metabolic signals, said CEO John Mulligan. It is focused initially on immuno-oncology applications.

The $11 million follows another $11 million cash infusion raised last year to complete a $22 million Series A financing round. Investors include Roche Venture Fund; Rivervest Venture Partners; 3X5 Partners; Digitalis Ventures; and Codon Capital.

Mulligan earned his doctorate in biology from Stanford University and previously worked as a consultant for Microsoft on a system for storing data on strands of DNA. He also founded Glycostasis, a company that designed a protein to regulate insulin levels, and co-founded Cambrian Genomics, which created a way to laser print DNA.

Another Seattle biotech company, Nautilus Biotechnology, announced a $76 million funding round Thursday.

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