Oprah day in biotech: Regenacy gets $30M, Abbisko gets $70M, Castle Creek gets $75M
→ A young biotech in Waltham called Regenacy announced a $30 million Series A, led by Cobro Ventures and Taiwania Capital Management. The company was a spinout from the biotech Acetylon after it sold itself to Celgene in 2017. Regenacy was given partial rights to Acetylon’s lead drug – ricolinostat– in a couple indications, such as nerve pain, while Celgene pushed them forward in cancer. The biotech will use the Series A funds to push the drug into a Phase II proof-of-concept trial.
→ Almost exactly one year after landing $42 million to bring its cancer drugs to the clinic, Abbisko Therapeutics has raised $70 million to push its four programs further. Singapore’s Temasek led the Series C, flanked by Qiming Venture Partners, Jianxin Capital, GIC, Lilly Asia Ventures, CICC Capital and Loyal Valley Capital. In addition to funding the current clinical-stage programs and expanding the discovery pipeline, the cash infusion will also support new assets in-licensed from X4 and AstraZeneca.
→ Jeff Aronin’s latest venture, Castle Creek Biosciences, has raised $75 million to advance gene therapy candidates for rare diseases. The company currently has one gene therapy in clinical trials, FCX-007, which is in Phase I/II for treating severe recessive dystrophic epidermolysis bullosa, a rare skin condition. A second one, FCX-013, for localized scleroderma was recently IND-enabled. Having shown positive safety data, the biotech is launching a Phase III for the lead indication.
Correction: An earlier version of this article misstated the data around FCX-007.