CAMBRIDGE, Mass., Jan. 05, 2022 (GLOBE NEWSWIRE) -- SalioGen Therapeutics, a privately held biotechnology company developing Gene Coding™, a new category of genetic medicine, today announced the completion of an oversubscribed and up-sized $115 million Series B financing.
The financing round was co-led by GordonMD Global Investments and EPIQ Capital Group. Additional new investors included Fidelity Management & Research Company LLC, funds and accounts advised by T. Rowe Price Associates, Inc., D1 Capital Partners, SymBiosis, the Cystic Fibrosis Foundation, the RD Fund (the venture arm of Foundation Fighting Blindness), and others. The round also included continued support from PBM Capital, which led the company’s Series A round. As part of the Series B financing, Craig Gordon, M.D., Founder, CEO and CIO of GordonMD Global Investments, has joined the Company’s Board of Directors.
“We are grateful to have support from a world-class group of committed investors. This investment will support our research and development efforts and accelerate the company’s ability to position multiple therapeutic programs for clinical development,” said Ray Tabibiazar, M.D., chief executive officer and chairman of SalioGen. “Grounded by a shared mission to transform the treatment paradigm for patients with inherited diseases, the team and advisory boards we’ve built have unparalleled expertise to usher in the first applications of Gene Coding.”
SalioGen’s Gene Coding platform is designed to turn on, turn off or modify the function of any gene in the genome. Gene Coding is applied through SalioGen’s Exact DNA Integration Technology™ (EDIT™), which is based on mammal-derived genome engineering enzymes collectively called Saliogase™. With this portfolio of enzymes, the technology can integrate new DNA sequences of any length directly into a defined location in the genome, without the use of viral vectors. The Gene Coding platform is designed to address the limitations of current genetic medicine approaches, including gene editing and viral vector-based gene therapies, and to realize the potential of genetic medicines to reach broader patient populations.
Dr. Gordon added, “I am delighted to join SalioGen’s Board of Directors and excited to be leading the Company’s Series B financing. This step forward will enable our talented team of executives and advisors to realize the full potential of SalioGen’s groundbreaking platform for millions of patients.”
Proceeds from the financing are expected to be used to continue building out the Gene Coding platform, expand the company’s team, establish manufacturing and automation capabilities critical for Gene Coding and accelerate the advancement of its preclinical programs.
About SalioGen Therapeutics
SalioGen Therapeutics has launched Gene Coding™, a genetic medicine platform, to develop durable, broadly applicable genetic medicines, using its Exact DNA Integration Technology™ (EDIT™) platform. EDIT is based on the novel mammal-derived genomic engineering tool, for use in potentially curative genetic medicines. SalioGen is focused on developing therapies for more patients with inherited diseases that are beyond what is addressable with current technologies, initially focusing on inherited macular disorders and inherited lipid disorders.
This press release contains forward-looking statements. Words such as “may,” “believe,” “will,” “expect,” “plan,” “anticipate,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. Forward-looking statements are based upon current estimates and assumptions and include statements regarding the Series B financing accelerating SalioGen’s ability to position multiple therapeutic programs for clinical development, SalioGen’s team of executives and advisors realizing the potential of SalioGen’s platform for millions of patients, plans to use the proceeds from the financing to continue building out the Gene Coding platform, expand the company’s team, establish manufacturing and automation capabilities critical for Gene Coding and accelerate the advancement of SalioGen’s preclinical programs, and the potential of SalioGen’s Gene Coding approach, including its use in potentially curative genetic medicines. While SalioGen believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict, that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the ability of SalioGen to position multiple therapeutic programs for clinical development, the ability of SalioGen to continue building out its Gene Coding platform, expand the company’s team, establish manufacturing and automation capabilities critical for Gene Coding and accelerate the advancement of SalioGen’s preclinical programs as planned, the ability of SalioGen to use its Gene Coding platform and Exact DNA Integration Technology in potentially curative genetic medicines. All forward-looking statements are based on SalioGen’s expectations and assumptions as of the date of this press release. Actual results may differ materially from these forward-looking statements. Except as required by law, SalioGen expressly disclaims any responsibility to update any forward-looking statement contained herein, whether as a result of new information, future events or otherwise.
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