Comet Therapeutics, a Cambridge, Mass.-based company built around the ability to re-engineer Coenzyme A (CoA)-related metabolism, raised $28.5m in Series A funding.
The round was co-led by Canaan and existing investor Sofinnova Partners, with participation from existing investor Inkef Capital and new investor BioInnovation Capital.
The company intends to use the funds to develop a broad portfolio of drug candidates.
Led by David de Graaf, Ph.D., president and CEO, Art Taveras, Ph.D., Chief Scientific Officer, Enej Kuscer, Ph.D., Co-founder and Chief Technology Officer, Comet Therapeutics is the leader in CoEnzyme A (CoA) science and intermediate metabolism. Its proprietary CoMET™ Platform is the foundation of a pipeline of next-generation therapeutics to treat conditions in which dysregulated CoA plays a role.
Potential applications including metabolic disorders, neuro-metabolic diseases, immuno-metabolic conditions and other life-threatening diseases.
Concurrent with the financing, Comet’s Board of Directors is expanding to include:
– Roel Bulthuis of INKEF Capital;
– Colleen Cuffaro, Ph.D., of Canaan;
– Anthony Walsh, Ph.D., of BioInnovation Capital.
They join existing board members:
– Henrijette Richter, Ph.D., of Sofinnova Partners, Paris;
– Drs. Ben Machielse, independent director; and
– Peter Van Vlasselaer, Ph.D., and
– David de Graaf, Ph.D., president and CEO of Comet.