# Casma Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/casma-therapeutics

- Industry: Biotechnology
- Headquarters: Cambridge, US
- Website: www.casmatx.com
- Total disclosed funding: $121M
- Latest round: Series C (Nov 15, 2022)
- Investors on record: 10

## About

Casma Therapeutics, Inc. is focused on developing innovative therapeutics that leverage the autophagy pathway to target and degrade disease-causing elements within cells, addressing complex health challenges across multiple disease areas.Founded in 2018 and based in Cambridge, US, Casma Therapeutics, Inc. specializes in therapeutics aimed at reprogramming the autophagy pathway. The company has closed 4 funding deals, with the most recent being a Series C round in November 2022, raising USD 46.00 mn. The firm’s leadership includes CEO Frank Gentile and Keith Dionne, with James Hurley recognized as a key founder. There is no information on any subsidiaries or parent companies.Casma Therapeutics specializes in innovative therapeutics focused on reprogramming the autophagy pathway to degrade disease targets. Their core product offerings revolve around the proprietary PHLYT™ (Phagosome-Lysosome Targeting) platform, which facilitates target-specific autophagic degradation of diverse disease-causing elements inside cells. This technology allows for the elimination of larger and more complex targets, such as organelles and protein aggregates, which traditional therapies may overlook. The end uses for these products span therapeutic applications in oncology, inflammation, neurodegeneration, and metabolic disorders, aiming to either arrest or reverse disease progression. The company primarily serves biopharmaceutical firms and research institutions engaged in drug discovery and development, with a focus on markets in North America and Europe.Casma Therapeutics generates revenue through strategic partnerships and collaborations with biopharmaceutical companies and research institutions. These partnerships typically involve licensing agreements where clients can access the PHLYT™ platform for their drug discovery efforts. Revenue is derived from milestone payments tied to the successful development of therapies using Casma's technology, as well as potential royalties once products reach commercial viability. The transactional structure is designed to incentivize long-term collaboration, focusing on both B2B interactions within the pharmaceutical sector. Specific pricing plans and detailed revenue figures related to these agreements have not been disclosed.In November 2022, Casma Therapeutics, Inc. raised USD 46 mn in Series C funding from investors including Amgen Ventures and Astellas Venture Management. The company plans to utilize these funds to advance its lead program for MYD88 mutant lymphoma through preclinical studies and into IND-enabling studies. Future growth targets include the launch of new products based on the PHLYT™ platform, with expansion plans primarily aimed at enhancing their market presence in both North America and Europe.

## Funding rounds

- Series C, Nov 15, 2022, $46M — Schroders Capital, Astellas Venture Management, Amgen Ventures, The Column Group, Third Rock Ventures, Eisai Co, Eventide Asset Management, Euclidean Capital, Mirae Asset Capital Markets, Ono Venture Investment
- Series B, Sep 10, 2020, $51M — Schroders Capital, The Column Group, Third Rock Ventures, Eventide Asset Management
- Series A, May 3, 2018, $24M — Third Rock Ventures

## Investors

- Third Rock Ventures (https://capitalatlas.ai/funds/third-rock-ventures) — Series A, Series B, Series C
- Schroders Capital (https://capitalatlas.ai/funds/schroders-capital) — Series B, Series C
- The Column Group (https://capitalatlas.ai/funds/the-column-group) — Series B, Series C
- Eventide Asset Management (https://capitalatlas.ai/funds/eventide-asset-management) — Series B, Series C
- Astellas Venture Management (https://capitalatlas.ai/funds/astellas-venture-management) — Series C
- Amgen Ventures (https://capitalatlas.ai/funds/amgen-ventures) — Series C
- Eisai Co — Series C
- Euclidean Capital — Series C
- Mirae Asset Capital Markets (https://capitalatlas.ai/funds/mirae-asset-capital-markets) — Series C
- Ono Venture Investment (https://capitalatlas.ai/funds/ono-venture-investment) — Series C