CAMBRIDGE, Mass., January 31, 2023 – Casma Therapeutics, a biotechnology company engaging the autophagy system to provide innovative new medicines, today announced that Keith Dionne, Ph.D., has stepped down as Chief Executive Officer, effective January 13, 2023. Dr. Dionne will continue to serve on the Board of Directors. Frank Gentile, Ph.D., formerly Chief Operating Officer […]
- Funding led by The Column Group
- Proceeds will be used to advance Casma’s First-in-Class TRPML1 agonist in muscular dystrophy and enable preclinical proof-of-concept for the Company’s novel autophagy degrader platform
CAMBRIDGE, Mass.-–Casma Therapeutics, Inc., a biotechnology company harnessing autophagy and the lysosome to design powerful new medicines, today announced the completion of a $50 million Series B financing.
The financing, led by The Column Group (TCG), adds new investors Eventide Asset Management, LLC and Schroder Adveq, as well as other undisclosed institutional investors. Existing investor Third Rock Ventures also participated in the Series B. In connection with the financing, Millie Ray, Ph.D., from The Column Group, will join Casma’s Board of Directors. Finny Kuruvilla, M.D., Ph.D., chief investment officer of Eventide Asset Management, LLC will become a board observer.
The proceeds from the financing will allow Casma to advance their TRPML1 agonist program into development for muscular dystrophy, as well as continue to develop the Company’s Autophagy Degrader Platform (ADP). TRPML1 regulates the repair of the plasma membrane of muscle cells following damage, addressing the core pathology in multiple forms of muscular dystrophy. ADP is a novel approach for the degradation of multiple disease-causing targets. The autophagy system is able to degrade disease targets substantially larger and more diverse than those that rely on E3 ligase-based or proteasomal degradation approaches.
“We are very excited to welcome TCG, Eventide Asset Management, LLC and Schroder Adveq as investors in Casma. We believe our investors’ strong focus on science, combined with their established position in the life sciences ecosystem, will aid us in continuing to forge ahead as pioneers in this novel area of biology,” said Keith Dionne, Ph.D., chief executive officer of Casma Therapeutics. “We look forward to the insight and leadership Drs. Ray and Kuruvilla will bring to Casma’s board.”
“TCG has been interested in the power of harnessing the autophagy-lysosomal pathway for some time and we are excited to help Casma advance multiple therapies toward the clinic and ultimately, the marketplace. I am looking forward to working with the Casma team on leveraging this powerful technology to create novel therapies for multiple unmet medical needs,” said Dr. Ray.
About Casma Therapeutics
Casma Therapeutics is harnessing the natural cellular process of autophagy to open vast new target areas for drug discovery and development. Casma uses several approaches to intervene at strategic points in the autophagy-lysosome system to improve the cellular process of enhancing membrane repair and clearing out unwanted proteins, aggregates, organelles and invading pathogens. By boosting autophagy, Casma expects to be able to arrest or reverse the progression of lysosomal storage disorders, muscle disorders, cancer, inflammatory disorders and neurodegeneration, among other indications. Casma was launched in 2018 by Third Rock Ventures and is based in Cambridge, Mass. For more information, please visit www.casmatx.com.
January 31, 2023Casma Therapeutics Announces CEO Transition
January 30, 2023Casma Therapeutics Announces new Nature Publication – “Structure of the lysosomal mTORC1–TFEB–Rag–Ragulator megacomplex”
In their recent Nature paper, Casma Founders Jim Hurley and Andrea Ballabio describe the cryogenic-EM structure of an MTORC1 megacomplex. A molecular description of this massive complex is helping us understand the regulation of the TFEB transcription factor and dependence of TFEB phosphorylation on FLCN and the RagC GDP state. Read full publication here