Semma Therapeutics, a Cambridge, MA-based biotechnology company focused on the development of novel regenerative medicines, completed a $114m Series B financing.
The round was co-led by Eight Roads Ventures and Cowen Healthcare Investments with participation from existing investors MPM Capital, F-Prime Capital Partners and ARCH Venture Partners, existing strategic partners Novartis, Medtronic and the JDRF T1D Fund, and new investors ORI Healthcare Fund, Wu Capital, 6 Dimensions Capital and SinoPharm Capital. In conjunction with this financing, Daniel Auerbach from Eight Roads and Kevin Raidy from Cowen joined Semma’s board of directors.
The company intends to use the funds to bring its lead development program, encapsulated stem cell-derived islets, through clinical proof-of-concept in patients and to continue exploration of other regenerative medicine therapeutics.
Founded in 2014, Semma has developed proprietary technologies that enable the generation of billions of functional, insulin-producing beta cells which have the potential to control blood sugar in people living with diabetes.
The company’s initial focus is on new treatments for Type 1 Diabetes Mellitus (T1DM) patients who currently depend on insulin treatments.
Semma has developed a cell delivery technology that 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 vivo, effectively controlling diabetes.
The company is headquartered in Cambridge, MA, with operations in Providence, RI.