Press Release

Capstan Therapeutics Announces $175 Million
Oversubscribed Series B

March 20, 2024

San Diego – March 20, 2024 – Cooley advised Capstan Therapeutics, a biotechnology company dedicated to advancing in vivo reprogramming of cells through RNA delivery using targeted lipid nanoparticles (tLNP), on the close of its $175 million oversubscribed Series B financing. Lawyers Ken Rollins, Edmond Lay and Heidi Wang led the Cooley team advising Capstan.

The financing was led by RA Capital Management, with participation from new investors Forbion, Johnson & Johnson Innovation – JJDC, Mubadala Capital, Perceptive Advisors and Sofinnova Investments, as well as existing investors Alexandria Venture Investments, Bristol Myers Squibb, Eli Lilly and Co., Leaps by Bayer, Novartis Venture Fund, OrbiMed, Pfizer Ventures, Polaris Partners, and Vida Ventures.

Capstan will use proceeds from the financing round to further develop its tLNP pipeline, as well as advance the company’s lead in vivo chimeric antigen receptor T cell candidate, CPTX2309, to early clinical proof of concept in autoimmune disorders.

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