Semma Therapeutics Raises $114M in Series B Financing
Summary
Semma Therapeutics, a Cambridge, MA-based biotechnology company focused on the development of novel regenerative medicines, completed a $114m Series B financing.In conjunction with this financing, Daniel Auerbach from Eight Roads and Kevin Raidy from Cowen joined Semma’s board of directors.The company intends to use the funds to bring its lead development program, encapsulated stem cell-derived islets, through clinical proof-of-concept in patients and to continue exploration of other regenerative medicine therapeutics.Founded in 2014, Semma has developed proprietary technologies that enable the generation of billions of functional, insulin-producing beta cells which have the potential to control blood sugar in people living with diabetes.The company is headquartered in Cambridge, MA, with operations in Providence, RI.