Secretome Therapeutics, a clinical-stage biotechnology company developing therapies derived from neonatal cardiac progenitor cells (nCPC), announced the closing of a $30 million Series A financing led solely by RA Capital Management. The funding will support advancement of the company’s lead therapy candidate, STM-01, for Duchenne muscular dystrophy-associated cardiomyopathy and other rare cardiomyopathies linked to neuromuscular disease.
The Plano, Texas-based company plans to use the proceeds to support operations and advance STM-01 toward pivotal Phase 2 and Phase 3 clinical development. STM-01 is an nCPC-derived cellular therapy designed to target inflammatory and fibrotic pathways while supporting myocardial function in Duchenne muscular dystrophy patients, an area with limited disease-modifying treatment options.
As part of the financing, biotechnology industry veteran David Lubner joined Secretome’s Board of Directors. Lubner brings more than 25 years of experience in the life sciences sector, including previous leadership roles as Executive Vice President and Chief Financial Officer of Ra Pharmaceuticals prior to its acquisition by UCB in 2020. He also previously served as CFO of Tetraphase Pharmaceuticals, PharMetrics, and ProScript. Lubner currently serves on the boards of Crescent Bio and Dyne Therapeutics, along with several private companies.
The company also announced that Matthew Hammond, Ph.D., MBA, Partner at RA Capital Management, will serve as a Board Observer. At the same time, Dr. Charles Edwards stepped down from Secretome’s Board of Directors following his contributions during a key growth period for the company.
Secretome is also advancing STM-21, a secretome-based therapeutic currently in preclinical development, along with additional nCPC-based therapies targeting cardiac disease and heart failure indications.
KEY QUOTES:
“RA Capital’s investment represents an inflection point for Secretome, and a validation of our science, team, and clinical development strategy. Moreover, with this financing, Secretome can develop STM-01 expeditiously as a potential gold standard therapy for patients and families affected by Duchenne muscular dystrophy. We are grateful for the deep financial, operational, and strategic expertise that David Lubner brings to our Board as Secretome enters its next major stage of growth. On behalf of the company, I also want to thank Dr. Charles Edwards for his long-standing support of our mission and team, and the many contributions he has made to Secretome.”
Vinny Jindal, President and CEO, Secretome Therapeutics
“Secretome is emerging as a leading immunology and inflammation (I&I) company in the area of cardiac disease, and a leader in the development of progenitor cell-based therapeutics. We believe in STM-01 will be a disease-modifying and best-in-class cellular therapy for patients with DMD, and the first of a broader pipeline of nCPC-based therapies from Secretome.”
Matthew Hammond, Partner, RA Capital Management
