Monday, July 22, 2024
HomeFunding CA-based Capstan Therapeutics Secures $175Million in Series B Round Funding

[Funding alert] CA-based Capstan Therapeutics Secures $175Million in Series B Round Funding

Capstan Therapeutics, a biotechnology company dedicated to advancing in vivo reprogramming of cells through RNA delivery using targeted lipid nanoparticles, secures $75million in series B round funding.

The Series B financing was led by RA Capital Management, with participation from new investors Forbion, Johnson & Johnson Innovation – JJDC, Mubadala Capital, Perceptive Advisors, and Sofinnova Investments. Capstan’s existing investors Alexandria Venture Investments, Bristol Myers Squibb, Eli Lilly and Company, Leaps by Bayer, Novartis Venture Fund, OrbiMed, Pfizer Ventures, Polaris Partners, and Vida Ventures, also participated in the round.

The proceeds from the Series B financing will be used to advance CPTX2309, Capstan’s lead in vivo chimeric antigen receptor T cell (CAR-T) candidate, to early clinical proof-of-concept in autoimmune disorders, and to further develop Capstan’s tLNP pipeline.

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CPTX2309, a product of Capstan Therapeutics tLNP platform, delivers an mRNA payload encoding for an anti-CD19 CAR to CD8-expressing T cells, effectively engineering CAR-T cells in vivo.

The Capstan Therapeutics goal of this approach is to achieve a reset of the immune system through rapid deep B cell depletion in both blood and lymphoid tissues, without the challenges of conventional ex vivo CAR-T.

Nandita Shangari, Ph.D., Managing Director at RA Capital Management said, “We are proud to support Capstan and their mission to lead in vivo CAR-T, Our conviction in Capstan is a result of the confluence of a differentiated platform technology that enables efficient T cell engineering, the platform’s ideal application in a large autoimmune market being disrupted by ex vivo CAR-T therapy, and a seasoned management team that is working tirelessly to advance this technology into patients.”

Capstan Therapeutics also declare the appointment of Nanna Luneborg, Ph.D., MBA, General Partner at Forbion, to its Board of Directors.

Laura Shawver, Ph.D., President and Chief Executive Officer of Capstan said, “This Series B financing brings together an exceptional syndicate of investors that recognize the potential of Capstan’s in vivo CAR-T technology,” “We are grateful for the support of both new and existing investors as we enter a critical phase of execution, with the ultimate goal of bringing new therapeutic modalities to patients.”

About Capstan Therapeutics, Inc.

Capstan is a biotechnology company with a mission to multiply the therapeutic possibilities for patients by developing targeted in vivo RNA technologies. The core platform technology comprises proprietary targeted lipid nanoparticles (tLNP) that are composed of LNPs conjugated with a recombinant protein binder, such as a monoclonal antibody. tLNPs are designed to deliver payloads, including mRNA or gene editing tools, capable of reprogramming specific cell types in vivo.

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