Mondego Bio

Mondego Bio is based at the Biocant park in Cantanhede, Portugal, and develops small-molecule inhibitors of PTPN2 (protein tyrosine phosphatase non-receptor type 2), a negative regulator of JAK-STAT signalling through cytokine receptors including the interferon-gamma receptor. The company says its candidate inhibits PTPN2 and PTPN1, is orally bioavailable and increases tumour cells' susceptibility to interferon-gamma in preclinical work. In December 2025 it selected ZE00-0388, which it describes as an AI-designed selective PTPN2 inhibitor, as its clinical candidate and said it planned a phase 1 study in the first half of 2026 with a healthy-volunteer part and solid-tumour cohorts alone and with checkpoint inhibitors. The lead programmes come from research at Eilean Therapeutics, co-founded by OrbiMed and Torrey Pines, and the company was incubated through Expert Systems' discovery platform with Eilean and Molsoft. Its Series A was announced in September 2025, led by Biovance Capital with OrbiMed and Torrey Pines Investment; no amount was stated.