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Maryland Inno: Baltimore startup Vita Therapeutics raises $31M to advance treatment for genetic diseases
October 12, 2022
Baltimore's Vita Therapeutics announced the completion of a $31 million series B funding round on Wednesday, propelling the cell therapy company toward a clinical trial and the development of new treatments for rare diseases.
The round, led by Cambrian BioPharma and Solve FSHD, will pay for the studies Vita needs for a human clinical trial for VTA-100, a treatment for a genetic disease called limb-girdle muscular dystrophy that weakens the muscles of a patient's arms and legs. CEO Douglas Falk hopes to start a Food and Drug Administration approved human trial for the drug in 18 months. The round is part of a recent expansion of the cell therapy industry in Maryland, with biotech company Orgenesis partnering with Johns Hopkins University to create a cell therapy research center, while the Maryland Stem Cell Research Fund saw its budget more than double in the past year.
Along with the lead up to a human clinical trial, the series B round will also fund the development of a new treatment, VTA-120, for patients with facioscapulohumeral muscular dystrophy (FSHD), a genetic disease that impacts the muscles of the face, shoulders and upper arms. The company currently has around 30 staff and hopes to add around 10 more employees in the next year to spearhead the clinical trial. Vita Therapeutics previously raised $32 million in a series A round in 2021.
Read the full story from Maryland Inno.