Cabaletta Bio Secures $38 Million Series A Financing to Advance DSG3-CAART Cell Therapy for Mucosal Pemphigus Vulgaris

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that U.S. biotechnology company Cabaletta Bio has completed a $38 million Series A financing round. The round was led by 5AM Ventures, with participation from Adage Capital Management and the University of Pennsylvania.

Cabaletta Bio is a biopharmaceutical company dedicated to developing cell therapies for B cell-mediated autoimmune diseases. Cabaletta’s therapeutic platform generates highly selective chimeric autoantibody receptor (CAAR) T cells. The high target specificity of these T cells enables the elimination of pathogenic B cells without impairing normal B cell function, thereby preserving healthy B cells that are vital for immune defense against infections. This approach represents an ideal combination of efficacy and safety.

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CAAR T-cell therapy is based on the revolutionary chimeric antigen receptor (CAR) T-cell technology developed at the University of Pennsylvania, making it one of the first CAR T-cell therapies to be commercialized. Dr. Steven Nichtberger, Co-founder and CEO of Cabaletta, stated, “CAAR T cells are built upon the groundbreaking chimeric antigen receptor (CAR) T-cell technology pioneered by researchers at the University of Pennsylvania, which has received FDA approval for the treatment of certain B-cell-mediated cancers. Over the past 18 months, Cabaletta has launched a series of CAAR T-cell therapeutic products and secured licenses to foundational intellectual property. We have assembled leading scientists, clinicians, and experts to accelerate the discovery, development, manufacturing, and regulatory approval of our cell therapy products.”

Following the completion of this financing round, Cabaletta entered into an exclusive license agreement and two multi-year sponsored research agreements with the University of Pennsylvania to develop CAAR-T therapies. Additionally, the company executed a services agreement with the Commonwealth of Pennsylvania, enabling Cabaletta to engage expertise in scientific, clinical, and manufacturing domains to advance the first CAAR product for mucous membrane pemphigus vulgaris (mPV) from proof-of-concept toward development.

mPV is a rare autoimmune disease that causes painful blisters on mucous membranes and increases the risk of severe infections. Current treatments for this condition primarily involve immunosuppressants, which are fairly effective but can lead to very serious side effects. The company’s flagship product is designed to selectively eliminate the B cells responsible for mPV, specifically those targeting desmoglein 3 (DSG3). The funds raised in this round will be primarily used to advance DSG3-CAART into clinical development.

5AM Ventures, founded in 2002 and headquartered in California, USA, is a venture capital firm dedicated to providing funding for early-stage life sciences companies. Its investment portfolio includes companies in the biopharmaceutical, life sciences, medical technology, and research instruments sectors.

Adage, founded in 2001 and headquartered in Boston, Massachusetts, is an asset management firm and venture capital institution. The company primarily engages in early-stage and late-stage venture capital investments, as well as private equity investments. Adage’s founders, Phil Gross and Robert Atchinson, both previously worked at Harvard Management Company, where the team they managed delivered annualized returns that outperformed the S&P 500 Index by 4.5%. Currently, Harvard Management Company has entrusted Adage with $1.8 billion in assets under management and holds a minority stake in the firm. Adage’s total assets under management currently stand at approximately $28 billion.