Capacity Bio Raises $35 Million Financing to Advance Mitochondria Platform
April 4, 2023
Rare Daily Staff
Capacity Bio, a company developing novel therapies to modulate a process to remove damaged mitochondria within the cell, completed a $35 million financing round.
RA Capital Management and Insight Partners co-led the financing and joined existing investor Remiges Ventures. As part of this financing, RA Capital Management Principal Cristina Ghenoiu, and Insight Partners managing director at Insight Partners Dylan Morris joined the board of directors.
The financing will be used to support the acceleration of Capacity Bio’s first-in-class mitophagy agonist and is expected to enter clinical trials in 2024. The financing will also advance Capacity’s preclinical programs focused on new mitochondrial modulators.
Mitochondria, known as the powerhouses, are organelles that regulate energy and cell death. Mitophagy is a normal process that is essential for maintaining cellular functions by removing damaged mitochondria through a degradation process known as autophagy.
Capacity Bio said it has discovered a novel cellular target that induces mitochondrial turnover, resulting in improved mitochondrial quality and performance. The company’s pipeline includes experimental therapies to treat neurodegenerative disorders, autoimmune disorders, myopathies, and genetic orphan indications.
“This financing is an important milestone for Capacity Bio, and we are excited to have the support and partnership of such seasoned investors,” said Ken Horne, CEO of Capacity Bio. “It will progress our lead mitophagy agonist into the clinic, as well as expand our pipeline of mitochondrial modulators.”
Photo: Ken Horne, CEO of Capacity Bio
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