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Coins are scattered and stacked behind a graph trending upwards. The PepGen logo is in the top left-hand corner of the image.

PepGen, a company developing next-generation oligonucleotide therapies for neuromuscular and neurologic diseases, today announced the closing of an oversubscribed $112.5M crossover financing, led by a strong syndicate of investors.

Proceeds from the financing will be used to advance PepGen’s lead programs: EDO51 for Duchenne muscular dystrophy (DMD), entering Phase 1 clinical trials in 2022, and EDODM1 for myotonic dystrophy type 1 (DM1), entering clinical trials in early 2023, as well as a large pipeline of additional oligonucleotide candidates. The funds will also enable the expansion of PepGen’s team in Boston.

 

This financing comes on the heels of PepGen's $45M Series A, led by RA Capital and announced in December 2020. We are thrilled to be joined by this strong syndicate as we rapidly move towards the clinic with our lead programs in DMD and DM1.

James McArther, PhD, President and CEO of PepGen

The company’s lead program in DM1, EDODM1, blocks the toxic CUG repeats that form hairpin loops in DMPK messenger RNA leading to myotonic dystrophy type 1, a progressive muscle disease that causes myotonia and worsening muscle loss. Similar to DMD, the long-term impacts of DM1 are overwhelming for families that live with this disease. PepGen’s approach delivers a peptide-conjugated antisense oligonucleotide to restore cellular function to multiple muscle tissue types. Clinical trials are expected to begin in early 2023.

 

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