BRIEF—Semma Therapeutics raises $114 million Series B financing

USA-based biotech start-up Semma Therapeutics, which is focused on the development of novel regenerative medicines, announced today the successful completion of a highly oversubscribed $114 million Series B financing.

Proceeds will be used to bring Semma’s lead development program, encapsulated stem cell-derived islets, through clinical proof-of-concept in patients and to continue exploration of other regenerative medicine therapeutics.

Semma’s proprietary technologies enable the generation of billions of functional, insulin-producing beta cells which have the potential to control blood sugar in people living with diabetes.

“We are now well positioned, between Semma’s scientific progress and this recent financing, to bring Semma’s lead therapeutic through clinical proof of concept in patients with Type 1 diabetes, while we expand into related arenas and build a leading regenerative medicine company,” said Mark Fishman, chairman of the board at Semma Therapeutics.