Semma Therapeutics developing stem cell therapy for Type 1 diabetes
Semma Therapeutics has announced the completion of a highly oversubscribed $114 million Series B financing. Proceeds will be used to bring the company’s lead development program of encapsulated stem cell-derived islets, through proof-of-concept in patients while continuing exploration of other regenerative medicine therapeutics.
“We are now well positioned, between Semma’s scientific progress and this recent financing, to bring Semma’s lead therapeutic through clinical proof of concept in patients with Type 1 diabetes, while we expand into related areas and build a leading regenerative medicine company,” Mark C. Fishman, M.D., chairman of the board at Semma Therapeutics, said. “We’re delighted that this accomplished group of investors share our mission to cure insulin-dependent diabetes.”
The Cambridge, Mass.,-based company is working on developing transformative stem cell-driven therapies, focusing on a new treatment for Type 1 Diabetes Mellitus, T1DM, patients who currently depend on insulin treatments. The technology developed protects its stem cell-derived beta, SC-beta, cells from the patient’s immune system. In preclinical studies, SC-beta cells demonstrated comparability to beta cells within human islets both in vitro and in vino, effectively controlling diabetes.
“I’m very pleased and impressed to see how far the science has progressed at Semma; what the team has accomplished from a development perspective on both the biology side and engineering side is remarkable,” Douglas Melton, Semma Therapeutics founder, and board observer said. “Semma's scientists have very effectively dedicated themselves to systems that reliably generate cells indistinguishable from human pancreatic beta cells and to the invention of novel devices that are immunologically protective and surgically practical. We’re very encouraged and excited about the potential this program has for diabetic patients and their families.”
Eight Roads Ventures and Cowen Healthcare Investments are co-leading the financing, with investments coming from existing investors including MPM Capital, F-Prime Capital Partners and ARCH Venture Partners. In wake of this announcement, Semma also named Daniel Auerbach from Eight Roads and Kevin Raidy from Cowen to its board of directors.
“We are now well positioned, between Semma’s scientific progress and this recent financing, to bring Semma’s lead therapeutic through clinical proof of concept in patients with Type 1 diabetes, while we expand into related areas and build a leading regenerative medicine company,” Mark C. Fishman, M.D., chairman of the board at Semma Therapeutics, said. “We’re delighted that this accomplished group of investors share our mission to cure insulin-dependent diabetes.”
The Cambridge, Mass.,-based company is working on developing transformative stem cell-driven therapies, focusing on a new treatment for Type 1 Diabetes Mellitus, T1DM, patients who currently depend on insulin treatments. The technology developed protects its stem cell-derived beta, SC-beta, cells from the patient’s immune system. In preclinical studies, SC-beta cells demonstrated comparability to beta cells within human islets both in vitro and in vino, effectively controlling diabetes.
“I’m very pleased and impressed to see how far the science has progressed at Semma; what the team has accomplished from a development perspective on both the biology side and engineering side is remarkable,” Douglas Melton, Semma Therapeutics founder, and board observer said. “Semma's scientists have very effectively dedicated themselves to systems that reliably generate cells indistinguishable from human pancreatic beta cells and to the invention of novel devices that are immunologically protective and surgically practical. We’re very encouraged and excited about the potential this program has for diabetic patients and their families.”
Eight Roads Ventures and Cowen Healthcare Investments are co-leading the financing, with investments coming from existing investors including MPM Capital, F-Prime Capital Partners and ARCH Venture Partners. In wake of this announcement, Semma also named Daniel Auerbach from Eight Roads and Kevin Raidy from Cowen to its board of directors.