Year: <span>2025</span>

Biovance Capital Partners, a biotech venture capital firm based in Lisbon, Portugal, alongside co-investors OrbiMed, a leading healthcare investment firm, with over $17 billion in assets under management and Torrey Pines Investment, a specialty life-science investment company, announced today the Series A funding of Mondego Bio. Headquartered in Portugal’s main biotech park, Biocant, Mondego Bio is developing best-in-class protein tyrosine phosphatase non-receptor type 2 (PTPN2) inhibitors, providing a potential immuno-oncological therapy with an improved safety and tolerability profile.

Mondego Bio today announced preliminary safety and efficacy results for its leading PTPN2 inhibitor, ZE00-0388, presented at the EMBO Workshop Phosphatases: From Basic Research to Translation (July 27–31, 2025, Würzburg, Germany).

Mondego Bio presented new data on its investigational PTPN2 inhibitor ZE00-0388 at the American Association for Cancer Research (AACR) 2025 Annual Meeting, held at the McCormick Place Convention Center in Chicago.