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Edgewise Therapeutics Completes $95 Million Series C Financing to Advance Clinical Development of Muscular Dystrophy Program

Dec 08, 2020•almost 5 years ago

Amount Raised

$95 Million

Round Type

series c

Boulder

Description

Edgewise Therapeutics, a clinical-stage biopharmaceutical company developing orally bioavailable, small molecule therapies for musculoskeletal diseases, today announced the closing of a $95 million Series C preferred stock financing led by Viking Global Investors. Additional new institutional investors participating in the financing included Janus Henderson Investors, Surveyor Capital (a Citadel company), RA Capital Management, Cormorant Asset Management, Logos Capital and Wellington Management. All of the company’s existing investors, OrbiMed, Novo Holdings, US Venture Partners (USVP), Deerfield Management, New Leaf Ventures and CureDuchenne Ventures, also participated in the offering. Proceeds from the financing will be used to advance clinical development of Edgewise’s lead drug candidate, EDG-5506, for Becker muscular dystrophy (BMD) and Duchenne muscular dystrophy (DMD), as well as the company’s other rare disease programs

Company Information

Company

Edg 5506 For Bmd And Dmd

Location

Boulder, Colorado, United States

About

EDG-5506 is currently advancing in a Phase 1 randomized, placebo-controlled, double-blind, Single and Multiple Ascending Dose (SAD and MAD) trial. The study is designed to evaluate the safety, tolerability, pharmacokinetics (PK) and pharmacodynamics of EDG-5506 in adult healthy volunteers and adults with BMD. The study will enroll adult patients with BMD following appropriate safety, tolerability and PK results of EDG-5506 in healthy volunteers. To learn more about this study (NCT04585464), go to clinicaltrials.gov.

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