Dyne Therapeutics 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. The financing will be used to accelerate 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.
“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 FORCE platform and advance our pipeline of modern oligonucleotide therapeutics aimed at transforming the lives of individuals living with serious muscle diseases.”
Dyne Technologies is utilizing its proprietary FORCE platform to overcome the current limitations of muscle tissue delivery. The company’s therapies consist of three components: a proprietary antibody, a clinically validated linker, and an oligonucleotide payload attached to the antibody using the linker. This highly targeted approach is designed to promote muscle health.
“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.”