Castle Creek is a portfolio company of Paragon Biosciences, which took part in this preferred stock financing.
This financing round saw continued support from Fidelity Management & Research Company, Valor Equity Partners, with new participation from a group of healthcare-focused investors.
The financing is expected to offer enough capital for the company to complete a Phase 3 study and issue topline results of its lead ex vivo product candidate for recessive dystrophic epidermolysis bullosa (RDEB), a progressive, debilitating rare genetic skin disorder.
It will also enable Castle Creek to advance its in vivo work to submit an Investigational New Drug (IND) application to the US Food and Drug Administration for hereditary tyrosinemia type 1 (HT1), its first indication using the in vivo gene therapy technology.
The company’s dual technology platform of ex vivo and in vivo technologies is the basis for developing novel gene therapies for a wide range of genetic diseases with limited or no treatment options.
Castle Creek Biosciences president and CEO Matthew Gantz said: “This important investment acknowledges the long-term strategic potential of our versatile dual technology platform and in-house manufacturing capabilities, as well as our unwavering commitment to patient communities.
“Castle Creek is uniquely positioned and committed to accelerating the expansion of our cell and gene therapy pipelines for each target indication.”
Castle Creek Biosciences chairman Jeff Aronin said: “Castle Creek’s lentiviral platforms have the potential to unlock transformative gene therapies.
“Phase 1/2 data shows the lead ex vivo candidate corrects the genetic defect of the most burdensome RDEB wounds. Additionally, robust preclinical data suggest the initial in vivo therapy could set a precedent as a single-dose curative treatment for an inherited, metabolic liver disease.”