Secretome Therapeutics Raises $30M Series A for Duchenne Heart Therapy

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Secretome Therapeutics, a clinical-stage biotechnology company working on therapies derived from neonatal cardiac progenitor cells, has closed a $30 million Series A financing. RA Capital Management was the sole investor in the round.

The capital will support company operations and continued work on Secretome’s pipeline, including its lead candidate STM-01. That program is an nCPC-derived therapy being developed for cardiomyopathy associated with Duchenne muscular dystrophy, along with other rare forms of cardiomyopathy that stem from neuromuscular disease. Secretome expects to use the proceeds to move STM-01 toward pivotal Phase 2 and Phase 3 development in Duchenne muscular dystrophy, a condition with few disease-modifying options available today.

The company was founded in 2018, originally under the name NeoProgen, as a spinout from the University of Maryland, Baltimore. With this round closed, its total disclosed funding now sits at about $50.4 million.

Alongside the financing, David Lubner has joined Secretome’s board of directors. Lubner brings more than 25 years of senior executive and board-level experience across life sciences, and previously served as chief financial officer of Ra Pharmaceuticals before its acquisition by UCB in 2020.