Frequency Therapeutics gets a $32M startup round to help fine tune its hearing loss drug R&D
A recent arrival in the new wave of regenerative medicine 2.0 biotechs taking shape has now collected a $32 million Series A for the next stage of development.
Woburn, MA-based Frequency Therapeutics now has the cash to see it through the next 12 to 18 months, says CEO David Lucchino, as the company steers its way to the clinic with their lead drug for hearing loss.
Inspired by the research of MIT’s Bob Langer and Harvard’s Jeffrey Karp, Frequency is developing small molecule drugs designed to spark the regrowth of sensory hair cells in the inner ear, looking to restore hearing damaged by noise.
Frequency took a step out of stealth mode back near the beginning of the year, when execs first explained their strategy and R&D plans.
“We know what molecules can hit what genes,” says the CEO. “We’re not looking to fundamentally change the underlying biology,” but rather harness it for the healing response.
Lucchino expects the current staff to grow from 15 now to the low 20s next year as they push through early-stage development work.
Co-founder Marc Cohen’s CoBro Ventures, which seeded the company, led the round, which also included Morningside Ventures, Emigrant Capital Corp., Korean Investment Partnership, Alexandria Real Estate Equities and others.