Capstan Therapeutics has secured $175m oversubscribed Series B financing to advance its lead in vivo chimeric antigen receptor T cell (CAR-T) candidate, CPTX2309, for treating autoimmune disorders.
RA Capital Management spearheaded the funding round, which saw contributions from new investors Forbion, Johnson & Johnson Innovation – JJDC, Mubadala Capital, Perceptive Advisors and Sofinnova Investments.
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The funding round also received support from current investors such as Alexandria Venture Investments, Bristol Myers Squibb, Eli Lilly and Company, Pfizer Ventures, Polaris Partners and Vida Ventures.
The company will use the new investment to facilitate the progression of CPTX2309 through the early stages of clinical proof-of-concept trials.
The therapy engineers CAR-T cells in vivo by delivering an mRNA payload that encodes for an anti-CD19 CAR to CD8-expressing T cells.
The therapeutic strategy behind CPTX2309 aims to reset the immune system by inducing rapid and profound B cell depletion in both blood and lymphoid tissues. This is achieved without the complexities associated with conventional ex vivo CAR-T therapies.
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By GlobalDataCPTX2309 is made using the company’s targeted lipid nanoparticle platform.
Apart from progressing the CAR-T cell therapy development, Capstan will also use the funds to develop its tLNP pipeline.
Capstan Therapeutics president and CEO Laura Shawver said: “This Series B financing brings together an exceptional syndicate of investors that recognise the potential of Capstan’s in vivo CAR-T technology.
“We are grateful for the support of both new and existing investors as we enter a critical phase of execution, with the ultimate goal of bringing new therapeutic modalities to patients.”
Forbion general partner Nanna Luneborg will join Capstan’s board of directors.
RA Capital Management managing director Nandita Shangari stated: “We are proud to support Capstan and their mission to lead in vivo CAR-T.
“Our conviction in Capstan is a result of the confluence of a differentiated platform technology that enables efficient T cell engineering, the platform’s ideal application in a large autoimmune market being disrupted by ex vivo CAR-T therapy, and a seasoned management team that is working tirelessly to advance this technology into patients.”
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