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.