Magenta Therapeutics Adds $50 Million for Stem Cell Development

By | May 11, 2017

Cambridge-based Magenta Therapeutics, a biotech company developing therapies to improve and expand the use of curative stem cell transplantation, has announced completion of a $50 million Series B financing; in-licensing of a clinical-stage program from Novartis to support the use of stem cell transplantation in a variety of disease settings; and a strategic partnership with Be The Match BioTherapies, an organization offering solutions for delivering autologous and allogeneic cellular therapies. Founded by internationally recognized leaders in stem cell transplant medicine, Magenta Therapeutics was launched in 2016 by Third Rock Ventures and Atlas Venture.

“Magenta has quickly established itself as a nexus of innovation in stem cell science, catalyzing interest in this area of medicine with the recognition that improvements will have profound impact on patients,” said Jason Gardner, chief executive officer, president and cofounder of Magenta Therapeutics. “We aspire to accelerate products that could unleash the potential of transplantation to more patients, including those with autoimmune diseases, genetic blood disorders and cancer. The resounding interest in Magenta from such a high-quality set of investors is a testament to our solid progress since launch, including building a world-class team and a robust pipeline, and generating promising early data.” (Source: Magenta Therapeutics Website)

For more detailed information, visit https://www.magentatx.com/news/press-releases/magenta-therapeutics-advances-stem-cell-transplantation-strategy-50-million-series-b-financing-licensing-clinical-stage-stem-cell-expansion-program-strategic-partnership-mat/