Scholar Rock, a Cambridge, Mass.-based biotechnology company focused on discovering and developing drugs that selectively modulate growth factor activation in the disease microenvironment, closed a $47m Series C financing.
The round was led by new investor Invus, with participation from new investor Redmile Group and existing investors Polaris Partners, Timothy Springer, ARCH Venture Partners, EcoR1 Capital, The Kraft Group, Fidelity Management and Research Company, and Cormorant Asset Management.
The company intends to use the funds to advance SRK-015, its lead clinical candidate for Spinal Muscular Atrophy (SMA) and other neuromuscular disorders, into clinical development in the first half of 2018, as well as to further progress additional development candidates in disease areas such as fibrosis, immuno-oncology, and anemias associated with iron restriction.
Scholar Rock plans to evaluate the potential of SRK-015 to improve muscle strength and motor function, both in SMA patients who are on therapies aimed at upregulating the production of the deficient SMN protein and as monotherapy in certain subpopulations of SMA patients.
Led by Nagesh Mahanthappa, PhD, President and Chief Executive Officer, Scholar Rock is discovering and developing a pipeline of innovative new medicines to treat a range of serious diseases in which growth factors play a fundamental role, including neuromuscular diseases, cancer and fibrosis.