Castle Creek Raises $75 Million to Advance Gene Therapy Programs
March 25, 2020
Rare Daily Staff
Castle Creek Biosciences said it completed a $75 million financing that will be used to advance and expand its gene therapy pipeline and expand its manufacturing capacity.
Paragon Biosciences led a $55 million equity investment with participation from Fidelity Management & Research Company and Valor Equity Partners. In addition, Horizon Technology Finance Corporation provided a $20 million venture loan.
Castle Creek Biosciences most advanced product candidate is FCX-007, an experimental gene therapy in late-stage development for the treatment of recessive dystrophic epidermolysis bullosa (RDEB), a severe skin disease characterized by very fragile skin that is prone to chronic blistering and wounds from normal friction or irritation.
RDEB impacts children from birth and has a high mortality rate. There are currently no approved treatment options for RDEB.
John Maslowski, Chief Executive Officer of Castle Creek Biosciences
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