Castle Creek Biosciences is a portfolio company of Paragon Biosciences which led the 55 million equity investment from Fidelity Management amp Research Company and Valor Equity Partners along with a 20 million venture loan from Horizon Technology Finance Corporation Nasdaq:HRZN
Castle Creek Biosciences is leveraging its proprietary technology platform and commercial-scale manufacturing infrastructure to develop personalized gene therapies for rare diseases with high unmet needs The company plans to use the funding to advance and expand its gene therapy pipeline led by the Phase 3 clinical development of FCX-007 NCT04213261 its gene therapy candidate for the treatment of RDEB It will also use the funding to expand its current good manufacturing practices cGMP infrastructure located in the greater Philadelphia region
Clinical results from the ongoing Phase 1/2 clinical trial for FCX-007 continue to show positive trends in safety and wound healing in RDEB patients Current data from this clinical trial were presented at the inaugural World Congress on Epidermolysis Bullosa held in London during January of 2020 FCX-007 was administered to 10 non-healing chronic wounds of which eight achieved complete wound closure 12 weeks post-administration ) vs no wound closure in intra-patient matched non-treated wounds (0%) FCX-007 continues to be well tolerated up to 52 weeks post administration
We are proud to have the strategic support of world-class investors whose impact enables our efforts to transform the lives of patients and the future of medicine said John Maslowski Chief Executive Officer of Castle Creek Biosciences We are steadfast in our commitment to the epidermolysis bullosa community and will continue to keep patients caregivers and clinicians informed on the progress of our current programs including FCX-007 and diacerein topical ointment while we expand the scope of our gene therapy platform ”
Castle Creek Biosciences is led by a strong executive leadership team with a proven record of developing innovative and potentially life-changing treatments for conditions with the greatest medical need said Jeffery Aronin Chairman and Chief Executive Officer of Paragon Biosciences As investors we are excited by the progress that the team has made and are committed to growing the Castle Creek Biosciences platform to address multiple rare genetic diseases ”
About Castle Creek Biosciences Inc
Castle Creek Biosciences is a privately held company that develops and commercializes gene therapies for patients with rare and serious genetic diseases The company’s lead gene therapy candidate FCX-007 is being evaluated for the treatment of recessive dystrophic epidermolysis bullosa RDEB the most severe and debilitating form of epidermolysis bullosa EB The company is also advancing clinical research evaluating a diacerein topical ointment CCP-020 for the treatment of epidermolysis bullosa simplex EBS and other forms of EB In addition Castle Creek Biosciences is developing FCX-013 a gene therapy for the treatment of moderate to severe localized scleroderma Castle Creek Biosciences is a portfolio company of Paragon Biosciences For more information visit castlecreekbio com or follow Castle Creek on Twitter @CastleCreekBio
About Paragon Biosciences
Paragon is a life science innovator that invests in builds and advises bioscience companies Our mission is to serve patients living with severe medical conditions which do not yet have adequate treatments Paragon’s portfolio of independently-run bioscience companies focus on biopharmaceuticals AI-enabled life science products and advanced treatments such as cell and gene therapies We help people live longer healthier lives For more information please visit ParagonBioSci com
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