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Omega Therapeutics announces $126 million in series C financing for developing ‘programmable epigenetic medicines’ against a range of disease conditions
Omega Therapeutics (Omega, Cambridge, MA) is a development-stage company that owns the platforms Omega Epigenomic Programming™ Platform and Omega Epigenomic Controllers™, to examine Insulated Genomic Domains (IGDs). IGDs acquire specific 3D DNA architecture, bringing together regulators for epigenetic expression. Omega’s platforms have mapped 15000 IGDs as ‘zipcodes’ or genomic addresses to new drug targets. These targets also include the present class of ‘undruggable proteins’. By doing this, Omega is able to provide therapeutics for precise up/down regulation of single or multi-gene expression with controlled durability, at the pre-transcriptional stage, without altering the genetic code. Omega plans to apply its technology to oncology, regenerative medicine, inflammation, autoimmune, metabolic and rare genetic diseases.
For its technology and vision, Omega has raised $126 million in series C funding from Flagship Pioneering (lead investor), followed by Invus, Fidelity Management & Research Company, funds and accounts managed by BlackRock, Cowen, Point72, Logos Capital and Mirae Asset Capital.
Omega’s pre-clinical program OTX-2002, has potently downregulated c-MYC expression in hepatocellular carcinoma, which has previously been tried without success by conventional wet lab approaches. OTX-2002 is now being advanced into Investigational New Drug (IND)-enabling studies. Omega further plans to use its funding towards developing novel candidates for regenerative medicine, inflammatory diseases, acute respiratory distress syndrome (ARDS) associated with COVID-19, alopecia, neutrophilic dermatoses, non-small cell lung cancer (NSCLC).
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