Penn spinout Capstan Therapeutics, a biotechnology company dedicated to advancing in vivo reprogramming of cells through RNA delivery using targeted lipid nanoparticles (tLNP) co-founded by Penn’s Carl June, M.D., Bruce Levine, Ph.D. Drew Weissman, M.D., Ph.D., Hamideh Parhiz, PharmD, Ph.D., Steven Albelda, M.D., Ellen Pure, A.B., Ph.D., Jonanthan Epstein, M.D., and Haig Aghajanian, Ph.D., successfully raised $175M in an oversubscribed Series B financing round.
The financing was led by RA Capital Management, with participation from new investors Forbion, Johnson & Johnson Innovation – JJDC, Mubadala Capital, Perceptive Advisors, and Sofinnova Investments.
Proceeds from the financing will be used to advance Capstan’s lead chimeric antigen receptor T cell (CAR T) candidate, CPTX2309, through early clinical proof-of-concept in autoimmune disorders. It will also help to further develop Capstan’s tLNP pipeline. Read more here: