Mighty Therapeutics Secures Up to $150 Million to Progress Commercial and Clinical Development of New Class of Mitochondrial Targeted Medicines

Mighty Therapeutics Holdings Inc., a commercial-stage biotechnology company pioneering a new class of medicines that directly target mitochondrial dysfunction in rare and age-related diseases, today announced the closing of transactions securing up to $150 million in non-dilutive growth and equity capital. The Company has entered into an agreement with K2 HealthVentures (K2HV), an alternative investment firm that provides flexible, long-term financing solutions in life sciences and healthcare, to provide a credit facility of up to $125 million, including an initial $30 million tranche. The Company has also held an initial closing of its Series B financing, in which founding investor Morningside has invested $25 million.