While 2022 was a challenging year for life sciences companies to raise money from venture capital firms, Exton’s Castle Creek Biosciences was one of ten companies in the region to secure a big venture capital deal, writes John George for the Philadelphia Business Journal.
In May, Castle Creek raised $112.8 million. These funds will go towards finishing the late-stage testing of its experimental treatment for a rare gene skin disorder called recessive dystrophic epidermolysis bullosa. The company also plans to advance its other drug products.
Castle Creek is a portfolio company of Paragon Biosciences, who took interest in its stock financing. Other supporters included Fidelity Management & Research Co. and Valor Equity Partners.
Read more about Castle Creek Biosciences in the Philadelphia Business Journal.