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Series B round brings $50mm to Cabaletta Bio

Executive Summary

Cabaletta Bio Inc. raised $50mm through its Series B round from first-time buyers Deerfield Management, Boxer Capital (Tavistock), Redmile Group, and Cormorant Capital, along with returning investors Adage Capital, 5AM Ventures, and an undisclosed public equity health care investor. Cowen was the placement agent. Cabaletta is developing chimeric autoantibody receptor (CAAR) T-cell therapies to treat B cell-mediated autoimmune diseases based on CART technology in-licensed from the University of Pennsylvania. Series B proceeds will help the company establish translational research and advanced manufacturing capabilities to support pipeline development, including work on lead candidate DSG3-CAART for mucosal pemphigus vulgaris (IND submission is expected later this year).
Deal Industry
  • Biotechnology
    • Gene Therapy, Cell Therapy
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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