Therapy Areas: Oncology
Casma Therapeutics Raises USD 46m in Series C Funding
17 November 2022 - - US-based biotechnology company Casma Therapeutics, Inc has closed a Series C financing round of USD 46m, the company said.

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.

Casma will use proceeds to advance its lead program for MYD88 mutant lymphoma through preclinical and into IND enabling studies.

Casma Therapeutics, Inc. is developing novel cellular degradation approaches based on the autophagy pathway to open new target areas for drug discovery and development that will profoundly impact the lives of patients.

Autophagy is a conserved cellular process that contributes to overall cellular homeostasis.

The autophagy machinery targets large and complex disease targets such as organelles, protein aggregates and large signaling complexes and before directing them to the lysosome for elimination.

By selectively degrading disease targets by autophagy, Casma expects to arrest or reverse the progression of disease in multiple oncology, inflammation, neurodegeneration, and metabolic disorders.