Secretome Therapeutics, a biotechnology company advancing therapies derived from neonatal cardiac progenitor cells (nCPCs), today announced the successful closing of a $20.4 million round of financing. This funding will enable Secretome to initiate clinical trials for its lead asset, STM-01, and further advance its innovative pipeline.

Key Upcoming Milestones

The capital raised in this round will support operations through mid-2026 and fund key initiatives, including:

• Clinical Trials: Launching two Phase 1 trials of STM-01 in HFpEF (heart failure with preserved ejection fraction) and DCM (dilated cardiomyopathy), with proof-of-concept data expected in Q3 2025.
• Manufacturing Scale-Up: Transitioning STM-01 manufacturing to 3-dimensional bioreactor technology.
• Pipeline Development: Advancing STM-21 and other preclinical programs to address inflammatory conditions.
• Regulatory Engagement: Defining the regulatory pathway for STM-01 in orphan indications.
• Intellectual Property: Submitting patents on next-generation cell and secretome products following the issuance of composition patents for STM-01 and STM-21.

Advancing STM-01 into Clinical Development

Secretome plans to initiate two multiple-ascending dose Phase 1 trials of STM-01 by the end of 2024:

• The first trial, led by Dr. Sanjiv Shah, founder of the world's first dedicated clinical program for HFpEF at Northwestern University Feinberg School of Medicine, will evaluate STM-01 in patients with HFpEF.
• The second trial, an investigator-sponsored study led by Dr. Arshed Quyyumi, Co-Director of Emory University’s Clinical Cardiovascular Research Institute, will study STM-01 in patients with non-ischemic DCM.

“We are grateful to have investors who share our vision and whose support enables Secretome to become a world-class drug development company,” said Vinny Jindal, Co-Founder, President, and CEO of Secretome Therapeutics. “Stem cells have shown extraordinary therapeutic potential, but challenges that include manufacturing inconsistencies have limited their broader application. Our neonatal CPC platform delivers unmatched consistency and potency, positioning Secretome to become a clear leader in this emerging area of medicine.”

About Secretome Therapeutics

Secretome Therapeutics is developing therapies derived from neonatal cardiac progenitor cells (nCPCs) to address life-threatening cardiovascular diseases and conditions driven by inflammation. Our lead drug is STM-01, a first-in-class cellular therapy designed to reduce inflammation, inhibit fibrosis, and support tissue repair in DCM and HFpEF. We are also developing STM-21, a secretome-based therapeutic in preclinical development for inflammatory conditions, including skin wounds and co-morbidities of diabetes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241125920830/en/