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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