The Life Sciences team advised Casma Therapeutics on the completion of its $50 million Series B which was led by The Column Group, and included new investors Eventide Asset Management, LLC and Schroder Adveq, as well as other undisclosed institutional investors. Existing investor Third Rock Ventures also participated in the financing round.
The proceeds from the financing will allow Casma to advance their TRPML1 agonist program into development for muscular dystrophy, as well as continue to develop the Casma’s Autophagy Degrader Platform. TRPML1 regulates the repair of the plasma membrane of muscle cells following damage, addressing the core pathology in multiple forms of muscular dystrophy.
Casma Therapeutics is harnessing the natural cellular process of autophagy to open vast new target areas for drug discovery and development. Casma uses several approaches to intervene at strategic points in the autophagy-lysosome system to improve the cellular process of enhancing membrane repair and clearing out unwanted proteins, aggregates, organelles and invading pathogens.For additional details on the financing, please read the press release and Endpoints and FierceBiotech articles.