Ma­gen­ta bags $52M Se­ries C for bone mar­row trans­plant pipeline

High-fly­ing Cam­bridge start­up Ma­gen­ta has snagged $52 mil­lion in a new fi­nanc­ing round to push for­ward the com­pa­ny’s pipeline of ther­a­pies for bone mar­row trans­plant.

The mon­ey comes in an over­sub­scribed Se­ries C round led by New York-based Cas­din Cap­i­tal, with EcorR1 Cap­i­tal, Even­tide As­set Man­age­ment, Wa­ter­mill As­set Man­age­ment and ad­di­tion­al long-term in­sti­tu­tion­al in­vestors join­ing in.

The cash will be used to ad­vance Ma­gen­ta’s port­fo­lio, in­clud­ing tar­get­ed bone mar­row trans­plant con­di­tion­ing pro­grams, stem cell mo­bi­liza­tion and stem cell ex­pan­sion pro­grams. The fund­ing will al­so push for­ward Ma­gen­ta’s most ad­vanced clin­i­cal prod­uct can­di­date, MG­TA- 456, a cell ther­a­py in Phase II tri­als in pa­tients with in­her­it­ed meta­bol­ic dis­eases.

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