Design Therapeutics, a San Diego, CA-based developer of a new class of therapies for patients with serious degenerative disorders caused by nucleotide repeat expansions, closed a $45m Series A financing.
The round was led by SR One, with participation from Cormorant Asset Management, Quan Capital and WestRiver Group.
The company intends to use the funds to advance its lead therapeutic candidate into clinical development for the treatment of Friedreich’s ataxia, and support advancement of its discovery programs for multiple other degenerative diseases, including fragile X syndrome and myotonic dystrophy.
Co-founded by Pratik Shah, Ph.D., and Aseem Ansari, Ph.D., Design Therapeutics is a biotechnology company developing a new class of therapies for serious degenerative disorders caused by nucleotide repeat expansions. The company’s lead program is focused on the treatment of Friedreich’s ataxia and discovery efforts are ongoing in other degenerative diseases. Design Therapeutics has developed a novel program that unblocks transcription, thereby restoring the natural production and function of frataxin.
Joining Dr. Shah and Dr. Ansari on the Board of Directors, are lead investor Simeon George, M.D., chief executive officer of SR One, and co-lead investor Stella Xu, Ph.D., managing director at Quan Capital, as well as Rodney Lappe, Ph.D., a seasoned R&D leader and the former chairman of Mirati Therapeutics.