Entrada Therapeutics Announces Closing of $116 Million Series B Financing
Funding to Advance Pipeline of Intracellular Biologics into the Clinic
BOSTON--(BUSINESS WIRE)-- Entrada Therapeutics Inc., a privately-held biotechnology company dedicated to transforming the treatment of devastating diseases using intracellular biologics, today announced the successful completion of a $116 million Series B financing.
The Series B financing was led by Wellington Management Company. Wellington Management was joined by Redmile Group, TCG Crossover, Greenspring Associates, Point72, Qatar Investment Authority (“QIA”), Moore Strategic Ventures, Goldman Sachs, CureDuchenne Ventures and one undisclosed global investment firm. Existing investors 5AM Ventures, MPM Capital, Roche Venture Fund, MRL Ventures Fund and Agent Capital also participated in the financing.
“We are pleased to have such strong support from outstanding investors,” said Dipal Doshi, President and Chief Executive Officer of Entrada Therapeutics. “Their commitment is a testament to the potential of the Company’s platform and pipeline. This investment will allow us to advance our research and a growing pipeline of intracellular oligonucleotide, antibody and enzyme-based therapeutics which we hope will transform the lives of patients living with devastating diseases.”
The Company plans to use the investment proceeds to advance its diverse pipeline to the clinic. Included in this pipeline are several of Entrada’s oligonucleotide programs for the treatment of multiple neuromuscular diseases, led by Duchenne muscular dystrophy (DMD). In addition, Entrada is applying its proprietary Endosomal Escape Vehicle (EEV)TM platform to expand beyond neuromuscular diseases into additional therapeutic areas.
“Initially funded and incubated within 5AM's 4:59 Initiative, Entrada continues to translate world-class research into the development of intracellular biologics that have the potential to become best-in-class therapeutics,” said Dr. Kush Parmar, Chairman of Entrada’s Board of Directors. “We are grateful for the support of this well-regarded group of investors as this funding will advance our lead neuromuscular programs into clinical development and help us realize our mission in the coming years.”
About Entrada Therapeutics
Entrada Therapeutics’ mission is to transform the treatment of devastating diseases and improve patients quality of life by developing intracellular biologics. Leveraging its proprietary Endosomal Escape Vehicle (EEV)TM platform, Entrada is creating a diverse and expanding pipeline of oligonucleotide, antibody, enzyme, protein and peptide programs to efficiently target and engage underlying drivers of diseases. The Company’s novel approach addresses current challenges associated with both large and small molecule therapeutics and represents a fundamental advancement in the field of intracellular biologics. For more information about Entrada’s pipeline and the broad therapeutic potential of the Company’s EEVTM platform, please visit www.entradatx.com.
Source: Entrada Therapeutics Inc.