SANTA FE, N.M., Aug. 30, 2023 /PRNewswire/ — Mercury Bio, (www.mercurybio.com) a Santa Fe, NM-based biotech company working in the area of targeted molecular drug delivery, achieved two financial milestones in the first half of August as it concluded a $2M seed funding round, and welcomed John Tomes as Finance Director for the growing company.
The seed round, which commenced in January of this year, was swiftly subscribed to by investors from across the nation, both corporations and individuals alike. Additionally, the company has signified its intent to promptly initiate efforts towards a Series A investment round due to the surge in activity. Before January 2023, the company had been funded through pre-seed investments primarily sourced from individuals and organizations based in New Mexico.
“Mercury Bio really transitioned out of a period of discreet technological development when we unveiled our groundbreaking technology at the recent 3rd-Annual mRNA Therapeutics conference in Boston,” says current CEO, Bruce McCormick. “That presentation by our CSO [Richard Sayre Ph. D.], showed just what our yEV technology is capable of, and based on the terrific feedback gained at that conference, we’re now looking at how to strategically structure growth over the next three years.”
Enter John Tomes, who brings valuable experience in capital markets and successful company building. Tomes most recently served as a Senior Partner with Hawthorn Equity Partners (Toronto & Chicago), and has more than 25 years of private equity and early-stage investment experience across four funds managing in excess of $450M of capital. Prior to that, he was a Managing Director at GE Capital and responsible for sourcing and managing over 70 leveraged lending and equity investments totaling $5.5 BN of capital and managing offices in Chicago, San Francisco, Los Angeles and Seattle. Tomes also has served on more than 15 boards, and been involved in multiple company sale events, IPOs, restructurings, and mergers. He holds a BA from Kenyon College in Biology, and an MBA from the University of Chicago.
“John Tomes joins us at a time when we are scaling to meet current and anticipated technology development agreements for our delivery system with pharma and biotech companies,” says McCormick. “He will be a valuable asset to our team as we amplify awareness of the many potential applications of chimeric yEV technology in the biopharma industry.”
About Mercury Bio: Sparked by scientific breakthroughs in genomic research, Mercury Bio is developing a next-generation biomolecular drug delivery platform. Using a novel system for drug encapsulation in natural vesicles, their technology enhances drug efficacy while reducing side effects by employing cell-specific targeting. The result is a next-generation drug delivery system in a scalable, low-cost production platform that will unlock the potential of RNA therapeutics and small molecule drugs.
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SOURCE Mercury Bio Inc.