Frequency Therapeutics completed a $62 million round C financing

Frequency Therapeutics completed a $62 million round of financing led by Perceptive Advisors, Deerfield Management and others, with investors such as Axel Capital also involved in round C. To date, Frequency has financed a total of $147 million.The funds raised in this round will be used by Frequency to develop FX-322, a cutting-edge drug for the treatment of hearing impairment, through the Progenitor Cell Activation (PCA) platform. Frequency is a clinical biotech company focused on using the body's innate biological properties to repair or reverse the damage caused by a range of declining diseases. Frequency's lead project, FX-322, is a potentially first-class treatment for hearing recovery and is currently being studied in Phase 2a.Frequency pioneered a new small molecule therapy designed to activate existing ancestral cells in the body to create healthy functional tissues and organs. This method avoids problems possible with stem cell therapy by temporarily activating the ancestral cells that are already in the target position of the tissue and preprogramming to produce specific cell types. Potential applications of Frequency's PCA platform include diseases such as gastrointestinal, skin and bone diseases, and its previous inner ear reconstruction sensory cell therapy has affected more than 30 million people in the United States alone.Frequency also recently announced a partnership agreement with Astellas Pharma for global development of FX-322, which includes $80 million in advance payments and $545 million in sales.“ This financing comes at an important time for Freequency as we prepare to advance our leading clinical candidate, FX-322, to a Phase 2a study of neuroreceptic hearing loss, which currently has no approved treatment. David Lucchino, President and CEO of Frequency, said, "With the support of such an important investor, we are confident that FX-322 will complete clinical research and development to bring new treatments to hearing loss disorders." " " we are focusing on working with life sciences companies that are applying revolutionary approaches to developing drugs in areas where treatment is currently inadequate. Joseph Edelman, CEO of Perceptive Advisors, said, "We greatly appreciate Freequency's organizational capabilities, as the company has an effective team to innovate treatments for hearing loss and to expand into other areas where there are many patient needs. "we are using innate biology to develop local treatments that reduce the complexity of regenerative medicine. "We are excited about the potential of our company's PCA platform to produce new drugs and are pleased to continue to support new and existing investors who continue to support us in developing transformative therapies for patients," said Marc Cohen, Executive Chairman of Frequency.About Perceptive AdvisorsIs a private hedge fund sponsor headquartered in New York, USA. The company invests in public equity markets around the world, primarily using long/short stock strategies as hedging techniques and investing at the same time. Perceptive Advisors typically invests in biotechnology and life sciences.About Deerfield Management Deerfield Management is a venture capital firm that specializes in seed round financing and invests in early- and late-stage startups. The company focuses on investing in healthcare, pharmaceuticals and biotechnology. Deerfield Management is headquartered in New York and has offices in Shanghai, China, and Epalinges, Switzerland.About Axil Capital Axil Capital is a leading financial institution in India, designed to provide professional and customized solutions to clients in the investment banking and institutional equity sectors, and is a wholly owned subsidiary of Axis Bank, one of the largest private banks in India. Axis Capital provides investors, companies and governments with financial needs in areas such as equity capital market mergers and acquisitions, private equity, structured finance and equities. (Arterial network)