On November 15, 2022 Casma Therapeutics, Inc., a biotechnology company engaging the autophagy system to provide innovative new medicines, reported the closing of a Series C financing round of $46.0 million (Press release, Casma Therapeutics, NOV 15, 2022, View Source [SID1234624110]). New investors participating in the round include Amgen Ventures, LLC, Astellas Venture Management, Eisai Co., Ltd., Euclidean Capital, Mirae Asset, and Ono Venture Investment. Current investors Eventide Asset Management, LLC, Schroders Capital, The Column Group, Third Rock Ventures, and other funds also participated in the financing. Dr. Hiromichi Kimura, Investment Director of Astellas Ventures, has joined the board of directors. Dr. Tomotaka Okino of Ono Venture Investment and Amgen Ventures have joined as board observers.
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Casma will use proceeds to advance its lead program for MYD88 mutant lymphoma through preclinical and into IND enabling studies.
"The closing of this financing has strengthened our resources to continue advancing our drug pipeline focused on autophagy-based degradation," said Keith Dionne, Ph.D., Chief Executive Officer of Casma Therapeutics, Inc. "We are thrilled to welcome several top-tier investors who recognize the potential of our biological platforms and therapeutic assets targeting well-known high-value and traditionally undruggable targets."
"Casma’s autophagy-based degradation platform, PHLYT, is unique and impressive," commented Dr. Kimura. "Along with a rich pipeline of autophagy degraders, the company has also established a highly qualified team with extensive scientific experience in drug development. We expect that this round of funding will accelerate development of Casma’s pipeline assets, especially its degrader for MYD88 mutant tumors."