Magenta Therapeutics will develop a novel drug for bone marrow transplantation

| By | Clinical Trials, Drug Development

Magenta Therapeutics, a biotechnology company developing novel medicines to bring the curative power of bone marrow transplant to more patients, announced the completion of a $52 million Series C financing.

Proceeds from the financing will be used to advance Magenta’s integrated portfolio of novel therapeutics, which are designed to address major unmet needs in bone marrow transplantation. This includes Magenta’s targeted bone marrow transplant conditioning programs, stem cell mobilization and stem cell expansion programs. The funding will also support further development of Magenta’s most advanced clinical product candidate, MGTA-456, a cell therapy that is currently being studied in a Phase 2 clinical trial in patients with inherited metabolic diseases.

Magenta Therapeutics, headquartered in Cambridge, USA, creates a platform focused on critical areas of unmet need,  pioneering an integrated approach to extend the curative power of bone marrow transplant to more patients, by making the process more effective, safer, and easier.

SOURCE: magenta
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