Entrada Therapeutics Raises $59 Million Series A to Advance Intracellular Biologics Platform
December 18, 2018
Series A co-led by 5AM Ventures and MPM Capital, along with other top investors
Dipal Doshi appointed as President and Chief Executive Officer
BOSTON, Mass., Dec. 18, 2018 – Entrada Therapeutics, a biotechnology company dedicated to transforming the treatment of devastating diseases through the intracellular delivery of biologics, today announced it has raised $59 million in a Series A financing. The financing was co-led by 5AM Ventures and MPM Capital, along with Roche Venture Fund, MRL Ventures Fund (MRLV) and Agent Capital.
“With this financing, Entrada is well-positioned to advance multiple programs through the application of our proprietary intracellular biologics platform,” said Dipal Doshi, President and Chief Executive Officer of Entrada Therapeutics. “Entrada has an opportunity to create the next generation of therapeutics for previously undruggable intracellular targets. Leveraging the exciting science from the lab of our Co-Founder, Dehua Pei, at The Ohio State University, we look forward to building a world-class team that will translate this platform intomeaningful therapies.”
Entrada was funded and incubated within 5AM’s 4:59 Initiative via a seed investment by 5AM Ventures, RocheVenture Fund and MRLV. Entrada’s proprietary intracellular biologics platform has the demonstrated ability to deliver a variety of modalities into the cytosol of the cell, allowing for the development of programs across several intracellular target classes. Entrada’s delivery vehicles boast improved bioavailability, biodistribution,metabolic stability and enhanced efficiency compared to previous gold standards. The Company is applying its platform to the delivery of intracellular enzyme replacement therapies, protein-protein interaction inhibitors and nucleic acids.
The first application of Entrada’s platform is focused on treating a rare and fatal mitochondrial disease with no approved treatments that is caused by mutations in a gene that codes for an intracellular enzyme. The Series A financing will allow Entrada to advance its lead program into human clinical trials. Additionally, the Company plans on broadening its rare, monogenic disease pipeline by identifying and progressing additional intracellular enzyme replacement therapies.
“Patients with severe, debilitating diseases still suffer without suitable treatment options,” said Kush Parmar, M.D., Ph.D., Managing Partner at 5AM Ventures. “Entrada has an executive team that is capable of tackling the challenges posed by the delivery of biologics into the cell. Entrada is focused on leveraging a highly validated biological mechanism to fundamentally change the standard of care for several of these diseases via multipleintracellular targets.”
“Entrada’s unique vision to transform the treatment paradigm of certain diseases via intracellular biologics delivery could result in innovative treatments for thousands of patients,” said Todd Foley, Managing Director at MPM Capital. “While there has been extensive development of biologics that address extracellular targets, there is a significant opportunity for novel biologics that address intracellular targets. Entrada’s strategy andtechnology address this profound unmet need.”
Read full press release here.