{"id":50869,"date":"2022-11-15T13:02:24","date_gmt":"2022-11-15T12:02:24","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/casma-therapeutics-raises-46-0-m-in-series-c-funding\/"},"modified":"2022-11-15T13:02:24","modified_gmt":"2022-11-15T12:02:24","slug":"casma-therapeutics-raises-46-0-m-in-series-c-funding","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/casma-therapeutics-raises-46-0-m-in-series-c-funding\/","title":{"rendered":"Casma Therapeutics Raises $46.0 M in Series C Funding"},"content":{"rendered":"
\n

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Casma Therapeutics<\/a>, Inc., a biotechnology company engaging the autophagy system to provide innovative new medicines, today announced the closing of a Series C financing round of $46.0 million. New investors participating in the round include Amgen Ventures, LLC, Astellas Venture Management, Eisai Co., Ltd., Euclidean Capital, Mirae Asset, and Ono Venture Investment. Current investors Eventide Asset Management, LLC, Schroders Capital, The Column Group, Third Rock Ventures, and other funds also participated in the financing. Dr. Hiromichi Kimura, Investment Director of Astellas Ventures, has joined the board of directors. Dr. Tomotaka Okino of Ono Venture Investment and Amgen Ventures have joined as board observers.\n<\/p>\n

<\/a><\/p>\n

\nCasma will use proceeds to advance its lead program for MYD88 mutant lymphoma through preclinical and into IND enabling studies.\n<\/p>\n

\n\u201cThe closing of this financing has strengthened our resources to continue advancing our drug pipeline focused on autophagy-based degradation,\u201d said Keith Dionne, Ph.D., Chief Executive Officer of Casma Therapeutics, Inc. \u201cWe are thrilled to welcome several top-tier investors who recognize the potential of our biological platforms and therapeutic assets targeting well-known high-value and traditionally undruggable targets.\u201d\n<\/p>\n

\n“Casma\u2019s autophagy-based degradation platform, PHLYT\u2122, is unique and impressive,\u201d commented Dr. Kimura. \u201cAlong with a rich pipeline of autophagy degraders, the company has also established a highly qualified team with extensive scientific experience in drug development. We expect that this round of funding will accelerate development of Casma\u2019s pipeline assets, especially its degrader for MYD88 mutant tumors.\u201d\n<\/p>\n

\nAbout Casma Therapeutics, Inc.<\/b>\n<\/p>\n

\nCasma Therapeutics, Inc. is developing novel cellular degradation approaches based on the autophagy pathway to open new target areas for drug discovery and development that will profoundly impact the lives of patients. Autophagy is a conserved cellular process that contributes to overall cellular homeostasis. The autophagy machinery targets large and complex disease targets such as organelles, protein aggregates and large signaling complexes and before directing them to the lysosome for elimination. By selectively degrading disease targets by autophagy, Casma expects to arrest or reverse the progression of disease in multiple oncology, inflammation, neurodegeneration, and metabolic disorders. For more information, please visit Casma\u2019s new website, www.casmatx.com<\/a>.\n<\/p>\n

Contacts<\/b> <\/p>\n

\nColleen DeSimone
\n
SVP, Finance
\n
cdesimone@casmatx.com<\/a>
857-777-4990\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CAMBRIDGE, Mass.–(BUSINESS WIRE)–Casma Therapeutics, Inc., a biotechnology company engaging the autophagy system to provide innovative new medicines, today announced the closing of a Series C financing round of $46.0 million. New investors participating in the round include Amgen Ventures, LLC, Astellas Venture Management, Eisai Co., Ltd., Euclidean Capital, Mirae Asset, and Ono Venture Investment. 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