Dyne Therapeutics Announces $115 Million Financing to Advance Pipeline of Modern Oligonucleotide Therapeutics for Serious Muscle Diseases
WALTHAM, Mass., August 10, 2020 – Dyne Therapeutics, a biotechnology company focused on developing life-transforming therapies for patients with serious muscle diseases, today announced the closing of a $115 million equity financing led by new investors Vida Ventures and Surveyor Capital (a Citadel company). Additional new investors, including Wellington Management Company, Logos Capital, Franklin Templeton and an undisclosed institutional investor were joined by existing investors Atlas Venture, Forbion and MPM Capital.
“We are excited to have such strong support from outstanding new and existing investors who share the Dyne team’s vision of building the world’s leading muscle disease company,” said Joshua Brumm, president and chief executive officer of Dyne. “Importantly, this capital allows us to leverage our FORCETM platform and advance our pipeline of modern oligonucleotide therapeutics aimed at transforming the lives of individuals living with serious muscle diseases.”
The financing accelerates the development of Dyne’s pipeline of muscle disease therapies, including its lead programs in myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD), as well as additional indications, including cardiac and metabolic muscle diseases.
“Dyne’s FORCE platform has the potential to deliver life-changing outcomes for patients with debilitating muscle diseases,” said Stefan Vitorovic, co-founder and managing director of Vida Ventures. “We are excited to partner with Dyne and its stellar team as the Company advances its programs and pursues its bold vision.”
About Dyne Therapeutics
Dyne Therapeutics is building a leading muscle disease company focused on advancing innovative life-transforming therapeutics for patients with genetically driven diseases. The Company utilizes its proprietary FORCE™ platform to overcome the current limitations of muscle tissue delivery with modern oligonucleotide therapeutic candidates. Dyne is developing a broad portfolio of therapeutics for muscle diseases, including lead programs in myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD). For more information, please visit www.dyne-tx.com, and follow us on Twitter, LinkedIn and Facebook.
Ten Bridge Communications