Baltimore, MD, October 12, 2022 – Vita Therapeutics, a cell engineering company harnessing the power of genetics to develop novel cellular therapies to treat muscular dystrophies and cancers, today announced the completion of a $31 million Series B financing. The fundraise was led by Cambrian BioPharma and new investor Solve FSHD. New investors included Riptide Ventures and Cedars Sinai, which participated alongside TEDCO and other existing investors. Proceeds from the financing will be used to advance Vita’s lead pre-clinical program VTA-100 for limb-girdle muscular dystrophy (LGMD2A) to the clinic. It will also fund the development of Vita’s newest program, VTA-120 for the treatment of patients with facioscapulohumeral muscular dystrophy (FSHD), and to further expand Vita’s discovery pipeline. Since inception, Vita has raised a total of $66 million.
“The support from this strategic group of quality investors further validates Vita’s cell therapy platform and our mission to bring transformative therapies that target the root cause of disease to patients with muscle disorders and cancers,” said Douglas Falk, MS, Chief Executive Officer at Vita Therapeutics. “This syndicate’s confidence in our ability to further progress our programs is energizing and we are thrilled to have them as partners. We are making notable progress with our investigational IND-enabling studies for VTA-100 and are on track to reach the clinic with this important therapeutic candidate within 18 months. Additionally, we are excited to further expand our pipeline to include VTA-120 for the treatment of patients with FSHD. I’m incredibly proud of our entire team and the steady momentum we continue to have.”
Chip Wilson, Founder of lululemon athletica and of Solve FSHD noted, “Living with FSHD for over 30 years, my upper body muscles are quite wasted. We are hopeful that Vita’s cell therapy approach will stimulate muscle regeneration and help people like me to build up muscle faster than it breaks down.”
“Currently there are no treatments available for FSHD, and there is an urgent need to develop disease-modifying treatments that not only regenerate muscle but correct the genetic defect that otherwise leads to the muscle’s inability to repair itself,” added Eva Chin, Executive Director for Solve FSHD. “We are pleased to support Vita as they continue to expand their induced pluripotent stem cell (iPSC) technology towards FSHD and LGMD.”
“Vita Therapeutics aligns with Cambrian’s mission of building medicines that will redefine healthcare in the 21st century,” said Cambrian BioPharma Chief Executive Officer, James Peyer, PhD. “The team, as well as the scientific platform, continues to impress us as they aim to solve for treatments that go beyond symptom management to truly impact these diseases in a positive way.”
Vita Therapeutics’ current pipeline includes lead program, VTA-100 for the treatment of LGMD2A, VTA-120 for the treatment of FSHD, and VTA-300 targeting multiple cancers.