Cedilla Therapeutics Announces $57.6 Million Series B Financing
-- Financing Co-Led by Leading Public Healthcare Funds, Casdin Capital and Boxer Capital of Tavistock Group --
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Cedilla Therapeutics, a private biotechnology company developing targeted small molecules for the treatment of cancer and other diseases caused by protein dysregulation, today announced the closing of a $57.6 million Series B financing. The financing was co-led by Casdin Capital and Boxer Capital of Tavistock Group and included new investors Eli Lilly and Company and Schroder Adveq, as well as other undisclosed institutional investors, along with existing investor Third Rock Ventures. In connection with the financing, Eli Casdin, Chief Investment Officer and Founder of Casdin Capital, and Dominik Naczynski, Senior Vice President at Boxer Capital, will join the Company’s Board of Directors.
“Cedilla was founded on the understanding that therapeutic targets exist in multiple proteoforms, or protein states, which can be evaluated for functional relevance and exploited to create novel opportunities for intervention, even where conventional approaches have failed,” said Alexandra Glucksmann, Ph.D., Cedilla’s president and chief executive officer. “Over the past two years, we have honed our integrated approach and we are now prepared to advance target-specific efforts toward the clinic. We appreciate the support of our new and existing investors, which will enable us to name our first two development candidates, expand our discovery-stage research and work toward our goal of delivering novel small molecules that can redirect the course of disease and deliver profound benefit to patients.”
Cedilla identifies previously unexploited proteoforms of high-value targets. While prior attempts to drug these targets have focused only on their canonical states, Cedilla has discovered the means to affect function or stability by engaging pivotal, post-translationally modified states. Cedilla’s product candidates are designed with mechanisms best fit to modulate these functionally-relevant proteoforms, which may include protein inhibition or degradation. Proceeds from this financing will support ongoing efforts to build a broad portfolio of small molecule medicines, including the identification and preclinical development of Cedilla’s first two product candidates.
“Cedilla is establishing an entirely new approach to drug development, based on a deep understanding of proteomics and a unique ability to identify and modulate functionally-relevant proteoforms of high-value targets,” said Eli Casdin, Chief Investment Officer and Founder of Casdin Capital. “It is a big idea with powerful potential and we are excited to partner with the management team to accelerate the next stage of the company’s growth.”
About Cedilla Therapeutics
Cedilla Therapeutics is a private biotechnology company developing targeted small molecule medicines for the treatment of cancer and other diseases caused by protein dysregulation. The company employs a target-centric approach, focusing on scientifically-validated drivers of disease that have eluded conventional therapeutic modalities. Cedilla identifies functionally-relevant proteoforms, or protein states, creating novel opportunities for therapeutic intervention.
Stern Investor Relations, Inc.
Source: Cedilla Therapeutics