Edgewise Therapeutics, a Boulder, Colo.-based preclinical company developing small molecule therapies for musculoskeletal diseases, closed a $50m Series B financing round.
The round was co-led by Novo Holdings A/S and U.S. Venture Partners (USVP) with participation from Deerfield Management, New Leaf Venture Partners, and Cure Duchenne Ventures, as well as existing founding investor OrbiMed Advisors.
Joining the Board of Directors will be Kenneth Harrison, Ph.D., Principal at Novo Ventures and Jonathan Root, M.D., General Partner at USVP; Robert Jackson, M.D., Partner and CSO at Deerfield will join as a Board Observer.
The company intends to use the funds for the advancement of its lead product candidate into clinical development for Duchenne and Becker Muscular Dystrophy (DMD and BMD) as well as expansion of its pipeline.
Founded in 2017 by Alan Russell, Ph.D., Peter Thompson, M.D. (Orbimed Advisors) and Badreddin Edris, Ph.D., (Springworks Inc.) and led by Kevin Koch, Ph.D., President and Chief Executive Officer, Edgewise Therapeutics is pioneering the development of first-in-class medicines for the treatment of high morbidity musculoskeletal diseases. Skeletal muscle is the largest organ system in the human body, regulating both force production to enable muscle contraction, locomotion, and postural maintenance and the metabolism of glucose, fatty acid and amino acid. By modulating these processes in skeletal muscle, the company is advancing therapeutic agents to reduce muscle damage, normalize muscle function, and decrease mortality.