Magenta Therapeutics raises $52M series C

Magenta Therapeutics Inc. (Cambridge, Mass.) raised $52 million in an untranched, oversubscribed series C round led by Casdin Capital. New investors EcoR1 Capital, Eventide and Watermill were joined by existing investors Be the Match BioTherapies and Access Industries. Other undisclosed new investors also participated.

Magenta's lead product, MGTA-456, is in Phase II testing to treat hematologic malignancies and Phase I/II trials to treat inherited metabolic disorders in patients undergoing stem cell transplantation. MGTA-456 comprises LFU835-expanded umbilical cord blood hematopoietic stem cells for transplantation...