Entrada Therapeutics, a US-based drug delivery platform developer, has raised $116m in its series B round from a consortium including CureDuchenne Ventures, the investment arm of CureDuchenne, a national nonprofit dedicated to curing Duchenne muscular dystrophy.
Fund manager Wellington Management led the round and was joined by VC firms Redmile Group, TCG Crossover, Greenspring Associates, Point72 and Moore Strategic Ventures, Qatar Investment Authority, investment bank Goldman Sachs and one undisclosed global investment firm. Existing investors, VC firms 5AM Ventures, MPM Capital, and Agent Capital also participated in the financing along with corporate venturing units Roche Venture Fund and Merck’s MRL Ventures Fund.
The company said the money would help treatment multiple neuromuscular diseases, led by Duchenne muscular dystrophy (DMD).
Founded in 2016, Entrada has developed intracellular technology intended to help medicines access both small and large cells in order to treat genetic diseases.
In December 2018, Entrada Therapeutics raised $59m in series A funding, following commitments from the corporate venturing units of pharmaceutical firms Merck & Co and Roche.
Venture capital firm 5AM Ventures and healthcare investment firm MPM Capital co-led the round, which also featured Agent Capital. The corporates participated through Roche Fund and MRL Ventures Fund, a subsidiary of Merck’s Merck Research Laboratories division.
Entrada was incubated in 5AM Ventures’ 4:59 Initiative and had previously raised an undisclosed amount of seed capital from 5AM, Roche Venture Fund and MRL Ventures Fund.
