Castle Creek Biosciences, Inc., an Exton, Pa.-based late-stage gene therapy company, received $75m in equity and debt funding.
Paragon Biosciences led the $55m equity investment with participation from Fidelity Management & Research Company and Valor Equity Partners. A $20m venture loan was provided by Horizon Technology Finance Corporation (Nasdaq:HRZN).
The company plans to use the funding to advance and expand:
- its gene therapy pipeline, led by the Phase 3 clinical development of FCX-007 (NCT04213261),
- its gene therapy candidate for the treatment of RDEB, and
- its current good manufacturing practices (cGMP) infrastructure located in the greater Philadelphia region.
Led by John Maslowski, Chief Executive Officer, Castle Creek Biosciences is a privately held company that develops and commercializes gene therapies for patients with rare and serious genetic diseases. The company’s lead gene therapy candidate, FCX-007, is being evaluated for the treatment of recessive dystrophic epidermolysis bullosa (RDEB), the most severe and debilitating form of epidermolysis bullosa (EB).
Castle Creek is also advancing clinical research evaluating a diacerein topical ointment, CCP-020, for the treatment of epidermolysis bullosa simplex (EBS) and other forms of EB. In addition, the company is developing FCX-013, a gene therapy for the treatment of moderate to severe localized scleroderma.